ENISA for Startups

Participatory loan

Financing

La línea está diseñada para apoyar a startups y pymes innovadoras en cualquier fase de vida del proyecto.

Modality

Préstamo participativo no convertible a capital.

Amortización

Hasta 9 años de amortización con carencia de hasta 7 años.

Interest

Aplicado en dos tramos. El primer tramo será de Euribor +2 o +3,75% y el segundo de un 8% máximo adicional en función de la rentabilidad de la empresa.

Guarantees

They do not require personal guarantees or guarantees, which makes it much more interesting than a traditional bank loan

Amortization

9 years, with a 7 year grace period

Funding

The company must make or have recently made a capital injection

Modality

Participatory loans

Interest

Applied in two sections. The first tranche will be Euribor + 3.25% and the second will be an additional 6% maximum depending on the company's profitability.

Guarantees

They do not require personal guarantees or guarantees, which makes it much more interesting than a traditional bank loan

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ENISA funding is very suitable for innovative startups and SMEs and is fully complementary to bank funding. They are among the first lines that entrepreneurs turn to to finance their company in the earliest stages and to be able to grow their project. Enisa's equity loans are ideal to accompany private investment rounds or capital increases carried out by partners, since Enisa works to equal or almost equal the amount of equity that the company has. It is highly advisable to have funding from Enisa so that entrepreneurs do not dilute their share of shares and control over the company so much.

During 2019, Enisa received more than 1,900 requests to access its participatory loans, reaching its historic record, which resulted in the approval of 514 participatory loan transactions for an amount close to 80 million euros.
Beneficiaries of Enisa participatory loans
The ENISA funding lines are designed for small and medium-sized Spanish companies that use innovation as a central factor in their business strategy. The National Innovation Company, S.A. (ENISA) has funding lines for startups and SMEs in stages of growth or consolidation with viable and profitable business models. ENISA grants are generally intended to finance the improvement of the company's competitiveness in its different growth needs, through the provision of participatory loans without guarantees and with a variable interest rate depending on the company's profitability. Enisa is the public entity that approves the most participatory loans in Spain.
What type of financing does Enisa offer?
The main characteristic of Enisa loans is that they do not require personal guarantees or guarantees, so an exhaustive viability plan must be drawn up to justify the project presented. The main advantage of Enisa's equity loans compared to a traditional bank loan is the lack of requirement for personal guarantees and the long repayment and grace periods.
What are the requirements for obtaining an Enisa loan?
The requirements for obtaining an Enisa loan are to have established the commercial company and to be a startup or SME, in accordance with European Union regulations. Mainly, it limits access to companies with more than 250 employees and with a turnover of more than 50 million euros. Beneficiary companies must carry out their main activity and have their registered office in Spain. In addition, your business model must provide some innovative element with respect to the sector in which it is located or have a very differentiated element that gives it a competitive advantage over the competition. Companies linked to the financial and real estate sectors, in general, cannot access Enisa's funding. Although there are exceptions and increasingly so, because companies are starting to be born that make technology for these sectors and help to transform them, and those companies could get their loans. Therefore, it is always important to assess the fit of the application with an expert consultant to help you maximize your options for obtaining funding.
The funding is conditioned on the fact that the company makes or has recently made a capital contribution equal to or greater than the aid requested.
Can you request more than one Enisa loan?
Yes. New financing can be requested whenever changes and growth occur in the company. Through new capital increases or considerable growth in its cash flow.
Does Enisa finance the business project 100%?
No, Enisa avoids being the majority financier of business projects and is a co-investor organization. Therefore, a good time to apply for Enisa is after a capital increase or investment round.
What differences does Enisa have compared to a bank loan?
- It does not require endorsements or personal guarantees.
- It has up to two years of grace period.
- The variable interest percentage of the loan is calculated based on the company's income.
How to present an Enisa?
To obtain an Enisa participatory loan, it is necessary to prepare a financial report and projections. Once this material has been presented and the admissions phase has passed, you enter the analysis stage, where you are assigned an Enisa analyst who asks you details and progress of the company to finish performing a rating on your company and assess whether it is eligible. to get an Enisa loan. It is very important to prepare a good report and financial projections, as well as the subsequent monitoring and justification before the analyst. Therefore, it is advisable to have the expert figure of a consultant to request it and increase your chances of achieving it and/or obtaining a greater amount.
ENISA has 6 different lines of funding:
Young Entrepreneurs
Up to 75,000€
Aid for newly established startups and SMEs founded by young entrepreneurs (up to 40 years old). Through this line, ENISA addresses the investments required by the business project in its most initial phase.
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Entrepreneurs
Up to 300,000€
Aid aimed at supporting startups and SMEs during the early stages of the life of their project (without age limit).
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Growth
Up to 1.5M€
Help offered to support innovative startups or SMEs that want to expand their business or achieve competitive improvement.
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Digital Entrepreneurs
Up to 1.5M€
Aid aimed at supporting and promoting women's digital entrepreneurship projects and reducing the gender gap.
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Agro SME AgriInnpulso
Up to 1.5M€
Aid aimed at supporting startups and SMEs that are part of the value chain of the agri-food sector.
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Audiovisual and Cultural and Creative Industries
Up to 1.5M€
Help aimed at channeling all the innovative potential of culture, and of audiovisual creations, as well as video games.
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Other services
Public funding R+D+I
Is your project technology-based or innovative?
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Public funding in co-investment
Are you raising or have you just closed a capital increase?
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Fundraising
Are you looking for a private investment round for your startup?
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