ICO Transport 2008 Line
Financing line of authorised proffesionals for public transport of passenger and cargo by road
Financing line for investment projects in new fixed assets for use in activity and facilitating financing in preferrential conditions for professionals and companies authorized to perform public transport of passengers and cargo by road.
Aim
For financing:
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Not for financing:
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- If the project presented includes real estate investment, the sum of the land plus buildings cannot exceed 80% of the project total
- If the project presented includes investment in intangible assets (R&D expenses, administrative concessions, goodwill, patents, transfer rights and software), the sum of these items cannot exceed 50% of the total.
Requirements
The beneficiaries of the financing should be professional with authorization to perform passenger and cargo road transport with a public service transport card issued by the corresponding autonomous region.
Conditions
- Types : loan or leasing
- Maximum amount :
Up to 80% of the investment, excluding VAT and taxes linked to the investment, up to a maximum amount of 600,000 euros per beneficiary and year.
In the category of leasing , up to 100% of the asset can be financed, combining ICO conditions and the conditions of Banco Sabadell - Repayment terms :
- 5 years with no grace period
- 5 years including 1-year grace period
- 7 years with no grace period
- 7 years including 2-year grace period
- Interest rate :
Variable, EURIBOR to 6 months + 0.75 points (determined by the ICO on a fortnightly basis) - Fees :
with no assessment or establishment fees. - Early cancellation :
No penalty, but can only be done on the date of interest rate review