The main financial instrument that the SRP makes available to innovative Asturian entrepreneurs is the Innovative Entrepreneurs Growth Fund, of 2 million euros, destined to the concession of subordinated loans.
The entities that will benefit from this line of funding are micro-companies and small innovative and technological companies, or companies with a differential product, with high growth potential, with the aim of fostering an entrepreneurial spirit and encouraging the attraction, drive and consolidation of this type of company within Asturias.
Outstanding features of these loans
- Maximum funding amount: 75% of the investment (€50,000.00 – €200,000.00).
- Repayment periods between 5 and 7 years, with a maximum possible grace period of 2 years included within the instalment period.
- Fixed-rate interest: minimum Euribor + 2 and maximum Euribor + 3.
- Variable-rate interest: maximum of 4 additional points on the fixed-rate interest.
- No commission on the opening, study, early redemption, etc.
- Payment in line with the project features.
- During the loan application period it is necessary to present an annual account audit.
- Guarantees: Generally, the viability of the project itself, and complementary collaterals are assessed according to the specific features of the project analysed.
- The loan could be capitalized.
With regards to the specific support offered to innovative entrepreneurs, we work in coordination with the European Business and Innovation Centre of the Principality of Asturias (CEEI).