ICO launches 'ICO Growth' to boost financing and expansion of Spanish SMEs

During his participation in the Financing Commission of the Chamber of Spain, Illueca pointed out that, despite the solidity of Spanish companies, they have lower debt ratios than their counterparts in the European UnionThis situation, he explained, could limit their ability to undertake new investment projects, stressing that national SMEs "need more and better access to financing" to achieve growth based on increased productivity.

In response to this need, the ICO has developed 'ICO GrowthThis program, managed entirely digitally by the entity itself, seeks to establish "cooperation with Mutual Guarantee Societies and banks" in operations starting at €50.000, intended to finance both the growth and international expansion of companies.

The range of operations eligible for financing under the 'ICO Crecimiento' program is broad, covering everything from the expansion and renovation of facilities, machinery, and equipment to the acquisition or development of new intangible assets. It also includes the purchase of shares to facilitate generational succession, the expansion of production capacity, the acquisition of treasury stock in the case of family businesses, and the maintenance of working capital.

Illueca emphasized the ICO's intention to directly address the difficulties SMEs face in accessing credit, positioning 'ICO Crecimiento' as a key element to unleash their investment potential and their leap into the next generation. foreign markets.