Bank Statement Loans For Self Employed

Bank Statement Loans For Self Employed Learn about the types of loans for freelancers and SMEs and loans that can be accessed with the 2019 financing of the ICO (Official Credit Institute), a good option to obtain financing in the situation of access difficulty by the self-employed and SMEs to bank credit. The ICO 2019 lines can be processed in the main financial entities.

In 2019 they remain very similar to those in 2019, with the following being most relevant for SMEs and the self-employed: ICO Empresas y Emprendedores 2019, ICO Garantías SGR SAECA 2019, ICO commercial credit 2019, ICO Internacionalización 2019 and ICO Exportadores 2019, which is divided into short-term exporters on the one hand and in the medium and long term on the other.

The public credit lines of the Instituto de Crédito Oficial, known as ICO 2019 lines, constitute once again a possible financial alternative for self-employed workers, entrepreneurs and SMEs, given the persistence of the scarcity of credit in financial markets that is maintained since the arrival of the crisis. Therefore, throughout this article we will see:

  1. What are ICO Credits
  2. Where to Request the ICO Lines
  3. Main ICO lines for self-employed workers, SMEs and entrepreneurs:
  • ICO Business and Entrepreneurs Line 2019

  • ICO Line Guarantee SGR 2019

  • ICO Commercial Credit Line 2019

  • ICO Line International Channel 2019

  • ICO International Line 2019

  • ICO Exporters Line 2019

Knowing, that yes, that as several of you come to us commenting it is quite complicated to get an ICO credit. But it is true that, with all its limitations, ICO 2019 loans are an option that self-employed workers and SMEs must consider as a possible solution to their financial problems.

Bank Statement Loans For Self Employed

Bank Statement Loans For Self Employed

Bank Statement Loans For Self Employed

Where to request the ICO Lines
The ICO lines are normally requested and processed at the offices of the main banking entities:


At the bank branch where, as in any other loan application, they will analyze the operation, they will require the necessary documentation and they will value the guarantees and guarantees to present. The support of a financial consultant can be of great help to you to know how to prepare all the necessary documentation.

The ICO 2019 lines are similar to those of 2018, maintaining the main lines of financing whose maximum amount of the main lines is 12.5 million per applicant. In general, the changes introduced since 2013, which pursued simplification, unifying several of the previously existing lines, the commitment to finance liquidity needs, internationalization and the differentiation of interest rates according to the terms of amortization.

The most relevant lines of loans for self-employed workers, entrepreneurs and SMEs are:

  1. ICO Business and Entrepreneurs Line 2019
  2. ICO Line Guarantee SGR SAECA 2019
  3. ICO Commercial Credit Line 2019
  4. IDAE Energy Efficiency Line 2019
  5. ICO International Line 2019
  6. Exporters Line 2019

They will be valid throughout the year 2019.

ICO Business and Entrepreneurs Line 2019
Directed to: self-employed, public and private entities (companies, foundations, NGOs, Public Administration), that make productive investments in Spain and / or need to cover their liquidity needs regardless of their social or fiscal domicile and if the Most of its capital is Spanish or foreign. Individuals, communities of owners and groupings of communities of owners can also apply for financing through this Line to rehabilitate housing and buildings or reform their common elements.

Maximum amount: 12.5 million euros per customer, in one or more transactions.

Modality: When the destination is Investment, it can be requested under the loan or leasing modality and when it is Liquidity it will be requested under the loan modality.

Maximum financing: up to 100% in investment projects.

Affordable concepts:

– Liquidity: circulating needs such as current expenses, payroll, payments to suppliers, purchase of merchandise, etc.

– Technological needs

– Acquisition of new or second-hand fixed assets

– Tourisms and industrial vehicles

– Adaptation and reform of facilities

– Acquisition of companies

– Rehabilitation or reform of buildings, common elements and homes (VAT or similar taxes included) in the case of communities of owners, groups of owners’ associations and individuals.

Amortization and grace period:

1-6 years old with 0 or 1 year of main lack

7-9 years with 0, 1 or 2 years of lack

Of 10, 12, 15 and 20 years with 0, 1, 2 up to 3 years of lack.

Interest rate: you can choose between a fixed interest rate (according to the bi-weekly price reported by the ICO) or a variable rate (reviewed every six months by the Credit Institution in accordance with the provisions of the financing agreement)

Commissions: the Credit Institution may apply a commission at the beginning of the operation. The cost to the client of this commission plus the interest rate may not exceed the maximum APR that the Credit Institution can apply to the operation based on its term.

Processing: directly in a bank or savings bank that collaborates with the ICO. The credit entities will be responsible for the study, processing and approval or denial of the operation.

Guarantees: to be determined by the financial entity in which the operation is requested. They can be mortgage guarantees, personal guarantees, joint or joint guarantees.

Compatibility: with other aid from the C.C.A.A. or other institutions, respecting the maximum limits established by the EU.

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