What nobody tells you about how to get an Enisa: Can you apply for an Enisa through a convertible loan?

Is it possible to obtain an Enisa with a round of financing made through a convertible loan?

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The literal answer is NO, since ENISA will force you to convert it into capital. However, this does not mean that the application process cannot be started before carrying out such a conversion. If everything else is fine, approval will be conditional on the conversion of the loan into equity.

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That said, it should be noted that the amount of the loan that ENISA can approve for a company cannot exceed the amount of the company's own funds at the time of approval. Therefore, before considering the possibility of applying for an ENISA by way of capitalizing a convertible loan, it must be ensured that the own funds after the conversion will be positive and greater than the amount of the requested loan.