COVID-19 grants

Financing solutions for your business

Have you been granted an ICO COVID-19 line of credit already?
If you have an ICO COVID-19 endorsement and you need to extend its term, contact your adviser.
At BBVA, we want to help reduce the impact of the coronavirus on your business. If you have a company or are self-employed, you can benefit from the financing we offer, which is backed by the State guarantee facilities managed by the ICO.
Financing conditions subject to compliance with the eligibility criteria imposed by the ICO and the provision of the information needed for the study and justification of the purpose. Financing subject to approval by BBVA, S.A. and, where applicable, by the ICO, and to the availability of the ICO guarantee facilities.
Check on the ICO website - Covid19 Guarantee Line. Guarantee Facility of the State of Ministry of Economic Affairs and the Digital Transformation, managed by ICO.

What do you need the financing for?

Financing for everyday life.

The financing is intended for the payment of salaries, invoices, taxes, expiring financial obligations or other needs that arise from the day-to-day operation of your business and assets in these difficult times.

What is it?

If you are going to use our financing for the day-to-day expenses of your business during the pandemic, we offer:

  • A repayment period of up to 8 years with a maximum two-year grace period for long-term financing.
  • Additional liquidity to deal with other commitments, such as paying employees, taxes or suppliers.

Who is eligible?

  • Only SMEs and self-employed workers can benefit from this financing, with an SME being defined as a company with fewer than 250 employees, turnover not in excess of €50 million or having a general balance sheet of under €43 million. It also cannot own more than 25% of another non-SME, or be more than 25% owned by another non-SME.
  • In addition, an endorsement guarantees 80% of the new (or renewed) loan granted to self-employed workers and SMEs.

Financing for acquisitions and improvements.

The financing is intended for the acquisition of materials, equipment, machinery, facilities or new investments, to remain committed to the future growth of your company despite the economic situation resulting from the pandemic.

What is it?

If you are going to allocate our financing to your future projects and investments during the pandemic, you can benefit from:

  • Convenient repayment terms in the current situation: up to 8 years with an optional grace period.
  • Flexibility in the type of product or financing that you may be most interested in.
  • For investments made after July 28, 2020.

We will also strive to speed up the processing.

Who is eligible?

These facilities are earmarked for the operations of self-employed workers, SMEs and large companies in any business sector with registered offices in Spain, which invest in Spain, and that:

  • Were not in default on December 31, 2019 and were not subject to insolvency proceedings on March 17.

Would you like more information?

ICO Guarantee Facility
Request information