Instituto de Crédito Extends ‘Icref Financia100’ Line with Increased Funding and Advantages for Self-Employed and Companies

The Board of Directors of Instituto de Crédito adopts this agreement due to the high demand from companies and the self-employed for a line that was endowed with 12 million and has already granted almost 11

The Autonomous Community and financial institutions have agreed to expand the ‘Icref Financia100’ line by 50 percent, with which the self-employed and companies can obtain loans for investments or working capital of up to 300,000 euros with flexible and advantageous conditions, in addition to providing financing for projects who have difficulties accessing traditional credit due to lack of guarantees or other circumstances.

In the renewal of the ‘Icref Financia 100’ line in 2022, improvements were established such as the increase in the amount of the credits, going from a maximum amount per applicant of 100,000 to 300,000 euros, or with the elimination of the opening commission of 0 .5 percent for sustainable projects. These improvements, together with other circumstances such as the tightening of access to credit in the traditional market, have led to a greater number of applications, and almost 11 of the 12 million with which it was endowed have been granted.

This has led the Board of Directors of the Institute of Credit and Finance of the Region of Murcia (Icref) to approve today to extend the credit of this line for the self-employed and companies, contributing another three million to Icref and the same amount to entities financial institutions (Banco Sabadell, Cajamar, Caja Rural Central, Caja Rural Regional, Caixabank, Abanca and Bankinter). In this way, the total endowment of ‘Icref Financia100’ is 18 million euros and one hundred percent of the credit is guaranteed by the Aválam Reciprocal Guarantee Society.

Advantageous conditions

In the case of requesting financing to make an investment, the maximum repayment term is ten years, while if it is used for working capital, the maximum term is five years. Depending on the purpose of the operation, there is the possibility of enjoying a grace period of two years. This means that during that period you can pay less monthly fee, by not paying loan installments.

The opening commission is 0.5 percent, except for sustainable projects, which is free, and the interest rate applied is the one-year Euribor value, plus a differential between 1 and 2 points, 0.5 points less than in the previous edition of this line of credit. In addition, to adapt to the circumstances of each applicant, the credit repayment terms can be monthly, quarterly or semi-annual.

Those interested can obtain information on this line of credit at any office in the Region of Murcia of the six collaborating financial institutions, or through Aválam. You can also request more information by calling 968 375325 and 968 375323.