BBVA will lead the ICO lending business in Castile-La Mancha in 2023.

BBVA has led the 2023 BBVA ICO lending business in Spain and thus maintains its “commitment” to companies in the region. The company highlights that more than 21 million euros have been channeled through ICO lines for companies and entrepreneurs.

Thus, the bank is the “leader with a market share” of 32.7% in 2023. BBVA has carried out, through ICO Companies and Entrepreneurs Lines, a total of 1,570 operations in Spain, in which it has allocated 682 million to finance and develop investment projects and the general needs of the activities of these companies. It should be noted that it is the ICO that provides the necessary liquidity and it is the banks that take on the risk of the operation.

This line is designed to improve the liquidity needs of these companies for operating expenses, payroll, payments to suppliers, procurement of goods, as well as to improve the technological needs or purchase of vehicles, passenger cars and industrial vehicles. The maximum amount per client and year is limited to 12.5 million euros for one or more transactions.

Likewise, financing can be formalized under various terms, such as loans, leasing, rent or a line of credit. It is compatible with assistance received by autonomous communities or other institutions and has a repayment period of up to 20 years, with a three-year grace period for the principal amount. In 2023, the ICO decided to include a level of sustainability as a requirement to qualify for these intermediation lines, meaning these loans are also in line with the bank’s strategy in line with the Sustainable Development Goals (SDGs).