ICO RRM

New ICO RRM (Recovery and Resilience Mechanism) Facilities

  • ICO Green RRM.
  • ICO RRM Businesses and Entrepreneurs.

ICO-funded financing solutions for your company.

No minimum or maximum amount per transaction and a repayment term of up to 20 years.

Discover the benefits of the new MRR ICO Facilities

With the new ICO RRM Green Facilities for Business and Entrepreneurs (Recovery and Resilience Mechanism), you can finance your projects according to the characteristics of each of the facilities under special conditions.

Self-employed persons and companies that carry out business activities in Spain may apply for these facilities.

What does the RRM ICO Green Facility consist of?

(Recovery and Resilience Mechanism)
  • Total amount
    It has 22 billion euros to finance investment projects for the self-employed and private companies with the aim of supporting the green transition.
     
    Purposes
    Only investment projects included in one of the activities listed in Annex VI of Regulation (EU) 2021/241 of the European Parliament may be financed. Therefore, these loans will be used to finance investment projects in the areas of:
     
    • Development of sustainable transportation projects.
    • Energy efficiency.
    • Renewable energies.
    • Decarbonization of industry.
    • Water management.
    • Circular economy.
    • Adaptation to climate change.

What is the ICO MRR Facility for Businesses and Entrepreneurs?

(Recovery and Resilience Mechanism)
  • Total amount
    It has 8.15 billion euros to finance investment projects for the self-employed and private companies. Within this line, 1.0 billion euros are reserved for companies in the tourism sector.
     
    Purposes

    These loans will be used to finance investment projects, as well as to cover certain expenses related to such investment, the latter not exceeding 50% of the total amount involved.

    In more detail, its purposes include the development of new products or services, new organizational processes or innovation, or investments aimed at increasing the category of the establishment, provided that they are associated with improved energy efficiency or water resource management.

    This facility may not be used for liquidity needs.

What do the two types of ICO MRR Facility have in common?

(Recovery and Resilience Mechanism)
  • Payees
    Customers who are self-employed workers or private companies, regardless of their size. 
     
    Percentage of financing
    Up to 100% of the financing needs* of investments financed by companies or self-employed individuals with Spanish Tax Identification Number (CIF/NIF) within and outside the borders of Spain may be financed.
    No minimum or maximum amount per transaction.
     
    *VAT or similar taxes on the financed investment may not be financed under these ICO MRR Lines.
     
    Financing
    The following types of financing are available:
     
    • Fixed or variable rate loan.
    • Fixed-rate leasing.

     

    Interest rate
    Every two weeks, the ICO updates the maximum APRs corresponding to each period, which will vary according to the repayment and interest-only periods (term of the financing arrangement).
     
    Repayment and interest-only period
    End-customers who are self-employed workers or private companies, regardless of their size, are eligible. For the purposes of compliance, adherence at CIF/NIF level will always be taken into account; with the sole exception of the computation of State aid.
    Repayment term of up to 20 years.

Some questions that may come up

These are the common requirements that all transactions have to satisfy:

  1. The financing cannot be used for refinancing or restructuring.
  2. The financing cannot be used to cover the same costs as those covered by other grants/loans/guarantees from European funds.
  3. The recipient of the financing must be up to date with the repayment obligations of other loans or advances charged to the General State Budget.
  4. The beneficial owners of the final recipients of the funds must be identified [as per Article 22.2.d) .iii) of Regulation (EU) 2021/241 of the European Parliament and of the Council of 12 February 2021].
  5. All the projects and investments financed must be economically viable.
  6. All the transactions financed with NGEU (Next Generation) funds must show that they comply with the DNSH (Do No Significant Harm) principle. This principle is a condition defined by the Commission that requires a self-assessment to ensure that the investment or reform does not adversely affect one or more of the six environmental goals defined in Regulation 852/2020: Climate Change Mitigation. 
  7. The interest rate subsidy on these transactions will be in addition to the State aid received over the last three financial years, with a ceiling of up to €300,000, in accordance with Article 13 of Law 38/2003, of November 17, 2003.

ICO RRM Green and Businesses and Entrepreneurs
Apply