ICO-PROINMED Program offers Spanish companies M € 2000

ICO-PROINMED Program offers Spanish companies M € 2000

This initiative is intended to finance investment projects in medium-sized enterprises

Instituto de Credito Oficial (ICO) has made available to Spanish companies an envelope, 2.000 million euros to finance investment projects in medium-sized enterprises.

The investments will be financed the acquisition of new productive assets in general, in Spain or abroad.Productive assets to be understood by those assets directly or indirectly, to perform the main activity of the company described in the objects of the same.

The maximum amount will be financed 100% of the investment (including VAT and IGIC). The amount of funding will be at least 6.Means new fixed assets investment which does not have those older than six months from the date of signature of the financing contract.

This funding may be requested until March 31, 2009. The employer must provide documentation that each institution considers necessary to study the operation.Credit institutions are adhering to this program: BBVA, Banco Sabadell, Caja Cantabria, La Caixa, Caja Madrid and Banco Pastor.

000,000 euros or the equivalent in U.S. dollars and a maximum of 75,000,000 euros or the equivalent in U.S. dollars.

May request the aid companies with registered office and tax in Spain, with a total volume of assets or more than 43 million and 300 million euros and a turnover between 50 and 300 million euros, not consolidated companies in a group or proportionally larger.