Castile-La Mancha Institute of Finances – ICMF Food and Agricultural Companies Sector
The Community of Castile-La Mancha
A line of financing the purpose of which is to provide financial support for continuing the work of modernisation and adapting to new market demands, given the importance of the food and agricultural sector in the region’s economy.
Aimed at Castile based food and agricultural sector PYMES (Small and Medium-Sized Companies) that meet the following conditions:
- Less than 250 employees
- An annual turnover of no more than 50 million Euros, with an overall annual balance sheet that is not in excess of 43 million Euros.
- Without participations of 25% or more held by any one company, or group of companies, that do not meet the small and medium-sized company conditions indicated above, excepting should such be public participation companies, venture capital companies or institutional investors, always insofar as such do not exercise any direct or indirect control over the company.
Modality: Loan
Repayment terms:
- 5 years without a grace period or with a 1 year grace period
- 7 years without a grace period or with a 1 or 2 year grace period
- 10 years without a grace period or with a 1 or 2 year grace period
Rate of interest:
- Variable:
ICMF reference rate (Euribor 3M) + 1.75%
Amount of financing:
- Between 20,000 and 2,000,000 Euros in one or more operations.
The amount of the financing for each project on the part of BS will be up to 50% of the new financeable investment, excluding VAT or any other tax associated with the investment.
Charges:
- Free of charges:
This line of financing will be available up until 31st December 2010, or until all of the available funds have been taken up.