• Investments in the production, development or implementation of new or substantially improved products, processes or services; the implementation of new or improved production/delivery methods; organisational or process innovations involving technological, industrial or commercial risk (certified by an external expert); or the financing of intangible assets (such as intellectual property), especially when they are not used as collateral.

• The company must be a “fast-growing” company: less than 10 years of activity since the first sale, and it must have grown by more than 20% annually in staff or turnover over three consecutive years, with at least 10 employees at the beginning of the period.

• The company must have high innovation potential or be R&D&I-intensive, meeting at least one of the following criteria:
  • Annual R&D&I expenses ≥20% of the transaction amount, and it declares it will increase them to at least this amount.

  • Commits to allocating ≥80% of the amount to R&D&I activities.

  • Has received grants, loans or guarantees from European R&D&I programmes in the last 36 months (without overlapping costs).

  • Has won R&D&I awards from EU institutions or bodies in the last 36 months.

  • Has registered technological rights (patents, utility models, etc.) in the last 36 months, and the transaction aims to exploit them.

  • Has received investment from venture capital or a business angel (individually or as a partner) in the last 36 months.

  • Requires an investment exceeding 50% of its average annual turnover over the past 5 years to enter a new market or product.

  • R&D&I expenses represent at least 10% of total operating costs in one of the last three years.

  • Is a Small Mid-Cap and R&D&I expenses represent: at least 15% of operating costs in one of the last three years, or at least 10% annually in each of the last three years.

  • Has incurred R&D&I expenses in the last 36 months, recognised as part of general support measures approved by the European Commission. The transaction must cover incremental expenses and not duplicate already financed costs.

  • Has been designated as an innovative company by an EU institution, and the transaction aims to maintain or develop its activity.

That the financing is allocated to at least one of the following purposes:

• New business models based on digital technologies, such as servitisation.

• Digitalisation of the supply chain: inventory management, monitoring, interaction with suppliers, etc.

• Innovation in products/services: integration of digital technologies to develop or improve offerings, including climate transition.

• Customer relations: use of digital technologies to improve customer management.

• Business development: expansion into new markets through the adoption of digital technologies.

• Cybersecurity and data protection.

• Improvement of internal processes through advanced technologies (AI, blockchain, drones, biotechnology, etc.).

• Digital training and upskilling: for existing workers and hiring of new digital profiles.

• Support for service providers that enable the digitalisation of value chains.

Between 100,000€ and 2,2 M€.

Up to 10 years, including a grace period of up to 2 years.

12-month EURIBOR plus a spread of up to 2.62%.

Arrangement fee of at most 0.50% of the loan amount

In addition to the guarantees provided by the holder, the European Investment Fund will assume in front of the ICF, 70% of the credit risk plus 90 days of ordinary interest.