On October 26, the Council of Ministers approved the agreement for the signing of three agreements between the Ministry of Industry, Trade and Tourism and Enisa.

‍

This firm has made it possible to release 2018 funds, destined to finance startups and SMEs through participatory loans, without requiring additional guarantees to those of the business project itself and with amounts from 25,000 euros to 1.5 million euros.

‍

What is ENISA?

Enisa It is a state public entity that provides financial support for small and medium-sized Spanish companies who want to promote their innovative projects.

‍

They serve as financial alternative to diversify funding sources which a startup can go to. In this sense, they are defined as the complement to other possible sources of public or private investment.

‍

‍The ENISA funding modality is participatory loans (a half way between bank lending and venture capital) that provides entrepreneurs with long-term resources without having to interfere with the management of the beneficiary companies. These participatory loans do not require guarantees and their interest rates are always linked to the economic evolution of the companies that receive them, making them more flexible and “soft” for entrepreneurs.

‍

What funding lines does ENISA have?

Enisa has 3 lines of funding for entrepreneurs:

• Young entrepreneurs line: Aimed at newly created SMEs and startups, founded by young people (under 40). The bankable amount is 25,000 to 75,000 euros. Through this line, Enisa hopes to support the business project in its most initial phase, so the company must have been incorporated, at most, during the 24 months prior to the application. The company's partners must contribute at least 50% of the loan through equity or through their own funds.

• Entrepreneur line: Aimed at supporting the early stages of SMEs promoted by entrepreneurs. This line has no age requirements, but it does have a maximum of months of incorporation. The company that requests it must not exceed 2 years of life and must have its own funds that are (at least) equivalent to the amount of the loan requested. For this line, Enisa finances 25,000 to 300,000 euros.

• Growth line: Created for companies that want to expand their business or achieve competitive improvement. There is also no age limit for your request. This is a loan that helps the applicant company to take a qualitative step, for this reason, the bankable amount ranges from 25,000 to 1.5 million euros. The beneficiary company's own funds must also be, at a minimum, equivalent to the amount of the loan. Approved loans for an amount greater than 300,000 euros will require external auditing of the financial statements for the last closed year.

‍

ENISA History

Since its creation, the public entity ENISA has granted more than 5,900 loans to entrepreneurs for an amount exceeding 892 million euros. In 2017 alone, 605 transactions worth 69.2 million euros were approved.

‍

More: Enisa Report