COVID-19 grants

Financing solutions for your business

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 line managed by the ICO.

Transactions closed from March 17, 2020, may be added retroactively.

What type of financing is it?

Our grants, supported by the ICO Guarantee Facility, are tailored to your needs:

  • Repayment period of up to 5 years with a one-year grace period for long-term financing.
  • Maintenance of the amount to finance working capital.
  • Additional liquidity so you can deal with other commitments, such as paying employees, taxes or suppliers.
  • We will also strive to speed up the formalities of the process.

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, a guarantee will back 80% of the new (or renewed) loan granted to both self-employed workers and SMEs, with BBVA paying the cost of the guarantee for each transaction. 

Facility available until September 30, 2020, or until the maximum amounts of the initial tranche have been exhausted. 

Financing conditions subject to compliance with the eligibility criteria imposed by the ICO. Financing subject to approval by BBVA, S.A. and, where applicable, by the ICO, and to the availability of the ICO guarantee facilities.

What can the grants be used for?

The financing may be used to pay salaries, invoices, taxes, maturing financial obligations or other liquidity needs. In other words, the basics to keep businesses and jobs going in these difficult times.

How are the grants requested?

The application is made through the usual BBVA adviser, who will answer any questions and specify how to send in the necessary documentation. You can also request that we call you or look for branches that are open in your location.

Note that this financing is available for companies, public entities (national, regional or local) and self-employed workers in any sector that have registered offices in Spain.

What documentation is required?

In order to comply with the documentation requirements specified for self-employed workers and SMEs by the Instituto de Crédito Oficial (hereinafter ICO), here is a list of the documents that are required to process the guarantee facility under Royal Decree-Law 8/2020 of March 17.

Documentation to be provided to BBVA:

  • Annual Accounts for 2019 (preliminary or approved) for SMEs (if not available, those for the last financial year to be closed) and 2019 annual tax return for self-employed workers (economic activity).
  • Form 390, annual VAT return, for 2019. 
  • Audit Report for 2019 if required for the company. 
  • Certificate showing that you are up to date with your tax and social security obligations (available online at

Additional documentation for BBVA to send to ICO:

  • Verification from the Public Bankruptcy Registry, certifying that the financed party is not in bankruptcy proceedings at the time of the application (available online at
  • Justification of how the company will use the guaranteed funds (salaries, suppliers, tax obligations, financial obligations, rentals and other financing needs, etc.). You will receive this document from BBVA for your signature.  
  • Permission from the customer for ICO to check the CIRBE (credit rating) on 12/31/2020. You will receive this document from BBVA for your signature.  
  • Appendix Declaration of Aids subject to the de minimis regulation. You will receive this document from BBVA for your signature.  

In the case of non-SME companies or operations exceeding €1,500,000, or when the de minimis regime is not applicable, it will be necessary to provide more documentation to the ICO. BBVA advisers will specify in each case what additional documents have to be provided. 

Download a PDF with the required documentation.

ICO Guarantee Facility Request information