The Government launches ICO Crecimiento: ICO's first 100% digital direct financing tool for Spanish SMEs

08 septiembre 2025

  • ICO Crecimiento is aimed at SMEs that, due to their specific profile (innovative nature, strong investment in intangibles or level of indebtedness) face greater barriers to accessing financing. With this initiative, the ICO seeks to complement the private sector, covering unattended financing niches, and with extended repayment terms.
  • With ICO Crecimiento, ICO is strengthening its role as a national promotional bank, with the aim of adding value to the financing of the business sector in all economic contexts.
  • The process will be carried out through the ICO online portal: a fast, simple and transparent system which, as it is connected to organisations such as the Tax Agency, the Bank of Spain and the Social Security, reduces administrative barriers to promote business activity
  • ICO Crecimiento also has a network of commercial advisors throughout the country that guarantees close and personalised support for companies

The Ministry of Economy, Trade and Business, through the Official Credit Institute (ICO), presents ICO Crecimiento, the new 100% digital direct financing tool aimed at SMEs with viable projects, growth potential and job creation capacity which, due to their specific characteristics or profile, have not been served by the usual financial channels.
 
This initiative has been developed by the ICO within the framework of the Addendum to its Strategy 2022-2027, with the aim of strengthening its role as a national promotional bank, providing added value to business financing in all economic cycles and not only in crisis situations. 

In the current context of economic growth, the ICO seeks to cover "market failures" with its activity, complementing the private sector, and for SMEs with growth potential to obtain the necessary financing to deploy their projects. 

To this end, the ICO focuses the ICO Crecimiento product on SMEs, innovative sectors, companies with models based on intangibles, or with high but sustainable debt ratios, which, although viable, find it difficult to access traditional bank financing.

The launch of ICO Crecimiento took place today in Barcelona during the Jornada Crecimiento empresarial. Prioridad hacia delante conference, where the Minister of Economy, Trade and Enterprise, Carlos Cuerpo; the President of ICO, Manuel Illueca; and the President of PIMEC, Antoni Cañete, held a meeting with the business community.


 

ICO Crecimiento: investment and liquidity to boost business expansion

ICO Crecimiento aims to prevent any company from becoming stagnant in its growth and expansion process. The programme has a flexible and scalable design, allowing it to finance both investment projects and business-related liquidity needs.

The financing will have repayment terms of between 5 and 10 years, with grace periods. The interest rate is linked to EURIBOR plus a margin ranging from 1.75% to 0.75%, depending on the risk of the transaction. In co-financing operations with another financial institution, the interest rate applied may be lower, thus reinforcing the complementarity of this programme with the private sector.

ICO Crecimiento is aimed at SMEs that are at least four years old and have had their annual accounts for the last two financial years audited, or have a public guarantee. 
The programme has an initial budget of €1 billion and applications can be submitted until 31 December 2027.

With this initiative, the ICO is expanding its direct financing services, which until now have focused on large investment projects, to include SMEs, in line with programmes developed by other public banks such as Bpifrance in France and CDP in Italy.

Fast, accessible and secure application process:  ICO online

One of the pillars of ICO Crecimiento is its 100% digital nature through ICO online, a comprehensive platform that allows companies to manage all operations (from application to notarised signature) remotely, intuitively and securely. 

Digitised workflows, an internal rating system and rigorous risk control make for highly effective traceability.

This platform contemplates automated validation models, connected to other bodies such as the Tax Agency, the Bank of Spain or the Social Security, with the aim of reducing administrative obstacles and barriers to promote business activity.


 

ICO closer: Territorial Support and Proximity Network

 ICO Crecimiento also brings with it a network of 21 ICO sales advisors distributed throughout the country, who will be responsible for establishing a human point of contact with companies, providing them with personalised support and actively disseminating information about ICO's new 100% digital direct financing in all regions and target sectors. 

Delegates will guide companies in the preparation of their business plans and application process. Through their work, the delegates ensure that companies have close and accessible support from the ICO in all the Autonomous Communities.