Financing for SMEs and midcaps: Cervera Program

Partially refundable loan for individual R&D projects developed by companies that collaborate with Technology Centers

The Ministry of Science, Innovation and Universities together with the Center for Industrial Technological Development (CDTI) has launched the Cervera Funding Program with a total budget of 600 million euros for the innovation of small and medium-sized enterprises and technology centers. These financial resources are distributed in 500 million in partially refundable loans for SMEs and midcaps, 80 million euros for a fund that provides guarantees to facilitate loans to companies and 20 million euros in the form of a grant for a specific call aimed at Technology Centers. The Cervera Program (500 million) is a call that will remain open all year round and that will finance individual R&D projects developed by companies that collaborate with Technology Centers of the state level within the technologies considered to be priorities by Cervera. At least 10% of the project budget must be allocated to the outsourcing of Technology Centres.The companies that may be beneficiaries of Cervera must be SMEs or medium-sized companies. Cervera, has defined a total of 27 priority technologies which in turn can be classified into 10 thematic areas:

1. Safe and healthy eating
2. Eco-innovation or ecological innovation
3. Smart manufacturing
4. Deep Learning and Artificial Intelligence
5. Advanced Materials
6. Technologies for health
7. Energy transition
8. Intelligent Mobility
9. Information Security
10. Advanced Mobile Networks

Features of the Cervera aid

• It has a fixed interest rate: 1-year Euribor.
• Loan (financial coverage) up to 85% of the approved budget.
• Return in 7 or 10 years including a grace period of between 2 and 3 years.
• It has a 33% non-refundable tranche
• You can order a 35% down payment of aid with a limit of 250,000€, without requiring additional guarantees.
• The company must finance at least the 15% of the project budget with own resources.
• You will be requested a 5% guarantee about the reimbursable tranche granted.