ICO COVID-19 grants

Financing solutions for your business

At BBVA, we want to help reduce the impact of the coronavirus on your business with the ICO credit facility

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, and intended to offset the financial effects of COVID-19.

Financing conditions subject to compliance with the eligibility criteria imposed by the ICO. Applicants must first provide the information needed to study and justify the stated 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. State Financing Facility from the Ministry of Economic Affairs and the Digital Transformation, managed by ICO.

What is it?

  • If you're going to use our grants for your everyday business expenses during the pandemic, we offer:

    • A repayment period of up to 8 years, with a maximum 24-month grace period for long-term financing.
    • Additional liquidity so you can deal with other commitments, such as paying employees, taxes or suppliers.
  • If you are going to allocate our COVID-19 grants and ICO facilities to your future projects and investments during the pandemic, you can benefit from:

    • Convenient repayment terms in the current situation: up to 10 years with an optional grace period.
    • Flexibility in the type of product or financing that might interest you most.
    • For investments made after July 28, 2020.

    We will also strive to speed up the process.

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 will back 80% of the new (or renewed) loan granted to self-employed workers and SMEs.
  • 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.

Some questions that may come up

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