The fund, a substitute for the Reindus 2020 Program (focused on supporting industries affected by Covid-19), will be active from the beginning of July for the acceptance of applications.
Objective
Promote industrial investments, by companies that are not part of the public sector and with registered office and establishment in Spain, that contribute to promote industrial development, strengthen industrial competitiveness and maintain the territory's industrial capacities.
Type of funding
- Ordinary loans
- Participatory loans
- Temporary and minority equity participation
- Mixed formulas
The maximum funding intensity to be received by the beneficiary companies will be 75% of the total of the bankable project, with a minimum amount of 200,000€ and a maximum of 60M euros. The funding provided by the FAIIP is compatible with any other funding, both public and private.
Main funding conditions
- Maximum duration of 10 years, including a grace period in the amortization of the principal of up to 3 years, for ordinary and participatory loans.
- The maximum period until the first term of the purchase and sale of the share will be 5 years, for equity shares.
- 10% bank guarantee of the amount disbursed of the financing, for ordinary and participatory loans. -Financing costs will be determined based on variables such as the type of project or the type of operation, and are generally defined as:
- 12-month Euribor plus a fixed spread of between 1.5 and 4.5%, for ordinary loans.
- 12-month Euribor plus a fixed spread of between 2.5 and 5.5%, for participatory loans.
- Fixed revaluation of between 5 and 8%, for equity investments.
Beneficiaries
Commercial companies and private cooperative societies, that develop or go to develop a productive industrial activity and industrial services. These companies may be beneficiaries regardless of their size.
Main requirements
Beneficiary companies, both commercial and cooperative, must:
- Have a registered office or effective establishment in Spain.
- Belong to the private sector.
- Develop a productive industrial activity and industrial services:
- Industrial-scale production activities
- Industrial-scale valuation activities
- Complementary activities to industrial production
- Industry service activities.
On the other hand, projects must: - Be started prior to the date of application. In the case of projects initiated after the date of application, the financed investments must begin within a maximum period of 1 year, starting from that date.
Eligible projects
- Creation of industrial establishments
- Transfer of industrial facilities
- Improvements and/or modifications of production and process lines
- The productive implementation of < <Industria Conectada 4.0>> technologies and actions along the lines oriented to environmental sustainability
Deadline for submitting applications
The fund will remain active continuously, starting from the first week of July 2021.
From Intelectium, we are experts in applying for and managing grants and grants. We operate under a completely success-oriented model, in which we don't charge initial set up fees to start working, but we are at risk and only get paid if we get funding for the company. Get in touch with us hither for expert advice.
