One of the biggest challenges a SME has to face when it wants to reach new markets is the funding of its internationalization. Exporting represents an important cost in terms of commercial prospecting, samples dispatch, qualified languages staff, international certification, trips, international exhibitions, etc. But fortunately, companies can get some helps available when exporting: The ICO Credits (Initial Coin Offering).
What are the ICO Credits?
These are credit lines for companies in order to finance the internationalisation and exportation process of the national companies. Credits are requested through banking institutions assigned with each program. They are in charge of the processing, study and approval of requests according to conditions set by the ICO. They also bear the risk.
What are the credit lines available for the exporter activity?
International ICO 2018
These are funds designed for Spanish or mixed companies with at least 30% of Spanish capital, which make productive investments in the international markets and/or need to cover their cash flow requirements.
The Section II of the credit line is destined to the complementary allocation of Supplier, Buyer and Financial Credit to companies.
ICO Exporters 2018
They are funds for self-employed people and Spanish companies which need to get cash flow by the anticipation of receipts which come from their exportations or by the cover of the production cost of the goods they intend to export.
ICO International Channel 2018
This is a financing intended for self-employed people and companies to support their internationalisation process.
The main news this product incorporates regarding the ICO International Service or ICO Exporters is that credits can be requested in the local bank or in international entities which have headquarters in the countries where the investment projects or the export activity occurs.