The Institut Català de Finances (ICF) and the Ministry of Enterprise and Employment’s Directorate General of Industry are rolling out a new €100 million financing facility to drive the recovery of the industrial sector in Catalonia and its green and digital transformation.

The loans are aimed at SMEs and large companies with investment plans which help to reinvigorate industry, one of the Catalan economy’s most strategic sectors. Specifically, this facility is designed to finance investment programmes involving upgrading and setting up new industrial sites or expanding existing ones. Eligible purposes include adding to production capacity, shifting towards a greener and more efficient industrial and energy model, supporting job creation or maintenance, driving value chain operations and boosting exports. The facility additionally features loans to fund working capital requirements.

“Access to non-current financing from the ICF is crucial for companies to be able to undertake projects which enable them to grow and generate stable, quality employment,” said ICF CEO Víctor Guardiola. “We also need to drive the transition towards a new, more sustainable model of industry anchored in green and digital transformation.”

“Sustainability and digitalisation are and will increasingly be key factors in the competitiveness of industrial firms,” noted Director General of Industry Natàlia Mas. “So this new credit facility seeks to help rework production processes by adding to the technological capabilities of industrial companies and baking sustainability into their business models. The idea is to support greater digitalisation and energy efficiency, promote the circular economy and eco-innovation and also enhance industrial safety.”

Funding 80% of investment

The loans will range from €100,000 to €3 million depending on their purpose and recipient. In general, for SMEs the loans will cover up to 80% of the investment with a minimum of €100,000 and a ceiling of €2 million per project. For large companies, the loans will usually be up to 80% of the investment with a minimum of €200,000 and a ceiling of €3 million per project.

As for the term, loans for investment projects can be repaid over at most 10 years with the option of an interest-only period of up to two years.

The facility also includes working capital loans which may be up to 100% of the amount applied for. For SMEs, the loans will range between €100,000 and €500,000 while for large companies they will be between €200,000 and €1 million. The term for working capital is up to five years and includes an interest-only period lasting up to one year.

Transactions approved under this facility are backed by a Ministry of Enterprise and Employment guarantee at 80% of the outstanding exposure for SMEs and 70% for large companies.

Businesses can apply for a loan on the ICF website (www.icf.cat).

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