Development grants

Innovation Fund

Funding for innovation projects

Up to 600.000€

Beneficiaries
 Small and medium-sized enterprises (SMEs) of the Autonomous Community of Euskadi, that develop an innovative activity, using financing in the production or development of new or substantially improved products, processes or services that are innovative and where there is a risk of failure technological or industrial.

Purpose

Long-term fund to finance innovation projects, through the granting of loans 100% guaranteed by Elkargi

Intended for

 Small and medium-sized enterprises (SMEs) of the Autonomous Community of Euskadi, that develop an innovative activity, using financing in the production or development of new or substantially improved products, processes or services that are innovative and where there is a risk of failure technological or industrial.

Destination of financing 

Property, plant and equipment (except land and buildings), Intangible assets and Current assets. Personnel expenses corresponding to the people who develop the projects.

Loan conditions 

Funder: Innovation Fund Amount: From € 155,000 to € 600,000 Interest rate: 2.1% fixed (1.2% + 0.90% Elkargi guarantee commission)

Term: 5 years

Lack: 1 year Fees: monthly or quarterly

Repayment alternatives:

First year of grace and 25% annual linear First year of grace, 10% the second year and 30% annual linear in the rest Possibility of final installment (bullet) of up to 30%

Guarantee conditions

Formalization Commission: 0%

Subscription and payment of shares: 4% of the amount of the guaranteed operation. Refundable at the time of the regular cancellation of the same.

No commission will be applied for cancellation, early repayment or additional expense

More information

http://www.elkargi.es/es/producto/fondo-innovacion

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