Depending on the point of view you analyze it, whether from the startup or from ENISA the ideal time to apply for Enisa varies
In the first case, the best time to apply for an ENISA loan is when you have the closing of a capital round confirmed or very well under way. Why?
Because ENISA is an entity that makes co-investment loans, which means that it co-invests with private investors, whether they are business angels or venture capital funds. You can apply for the loan before closing the round, but at the time of approval, it will be conditioned on the closing of the round and submission for registration in the corresponding commercial register.
Also, it can be requested before converting a convertible loan, but, in this case, you should keep in mind that the maximum amount you can request is approximately the equivalent of the company's own funds after the conversion event. In other words, if you came from a situation of having negative own funds in the amount of 150K€ and you convert a 200K€ loan into capital, your net worth will remain at 50K€ and that will be the maximum that the agency could be willing to approve you.
In the second case, that is, viewed from the organization's point of view, up to the present and despite the fact that there are plans to change this, ENISA's main lines of funding operate on the basis of a budget approved by the Council of Ministers every year.
In years when there is political stability, the budget is usually approved during the second quarter of the year. In these cases, the ideal is apply for the loan in January-February, with which it can be expected that the disbursement will take place between June and September. But, in other years, the budget has even been approved in August or September. This means that, if you submitted an application at the beginning of the year, at best you can count on a pre-approval, which will be approved when the budgets are approved, at which point you will be asked to update the company's accounts. In this context, the risk of submitting an application too early is that you consume the funds from the capital increase and when the time comes for disbursement, your net worth will be well below the amount of loan you have requested.
In the case of the Digital Entrepreneur, Agroinnpulse or Audiovisual and Creative Cultural Industries loan lines, since they have specific annual budgets, they can be requested at any time of the year and have fairly fast approval and disbursement periods, so it is advisable to submit them in the first months of the year, before the budgets corresponding to the period in question run out.
We help you get help from Enisa
If you want to assess whether the different Enisa lines can fit your company or project, we can advise you without obligation. At Intelectium, we work under a successful model in obtaining public aid. We help you to identify which grants are the best fit for you and to prepare all the necessary documentation to carry out the procedure correctly until you obtain funding. You can contact us through our form or by sending an email to comunicacion@intelectium.com
