ICO SGR-SAECA Guarantee Facility

• Payees: Self-employed workers, public and private companies (companies, foundations, NGOs and Public Administrations), that receive the guarantee of a Mutual Guarantee Company or SAECA (Sociedad Anónima Estatal de Caución Agraria. For investments outside of the national territory, including both companies based in Spain and those with their headquarters in a foreign country and at least 30% Spanish capital. 
  
• Validity: Convenio ICO 2020 facilities available soon.
• Investments bankable.      
  Investments in or out of the national territory, up to 100% of the investment project, VAT included, or needs of liquidity.

• Maximum amount: 
  • Up to 100% of the investment to finance, more the VAT or tax of analogous nature, or up to 100% of needs of liquidity, with an amount maximum of 2 million euros, in one or in several operations, so much formalized in the modality of loan as of leasing.
• Term of the operations: 
  The customer can choose between:
  • 1 year, with no grace period or a 1 year grace period.
  • 2 years, with no grace period or a 1 year grace period.
  • 3 years, with no grace period or a 1 year grace period.
  • 4 years, with no grace period or a 1 year grace period.
  • 5 years, with no grace period or a 1 year grace period.
  • 6 years, with no grace period or a 1 year grace period.
  • 7 years, with no grace period or a 1 or 2 year grace period.
  • 8 years, with no grace period or a 1 or 2 year grace period.
  • 9 years, with no grace period or a 1 or 2 year grace period.
  • 10 years, with no grace period or a 1, 2, or 3 year grace period.
  • 12 years, with no grace period or a 1, 2, or 3 year grace period.
  • 15 years, with no grace period or 1, 2, or 3 year grace period.
• Interest rate: Fixed or Variable, with the differential varying depending on the term of the operation. 
  
• Voluntary early repayment: 
  Total or partial (reducing the fee) early repayment is possible. In general, there is a 1% voluntary early repayment fee for FIXED-RATE transactions. For VARIABLE RATE transactions, it will vary depending on the remaining life of the transaction. These fees vary if the transaction is within the Law 41/2007, on regulation of the mortgage market, depending on when the termination occurs. 
  

• Fees for the customer: 
  The RGC/SAECA may charge an appraisal fee that will not be greater than 0.50% of the guaranteed amount. The Mutual Guarantee Society (SGR in Spanish) can charge customers a fee of up to 4% of the amount guaranteed as the Mutual Society Fee, paid just once at the beginning of the operation. This amount is reimbursed to the customer once the relationship with the RGC ends.

BBVA financing through the Lines ICO-2020. The granting of the operations is subject to the fulfillment of the requirements established in each of the ICO FACILITIES and to the previous authorization of the financing on the part of BBVA