The Best Business Loans in Spain in just one more click
Compare the best options on the market and choose the one which best adapts to your day to day needs.
Further Below: Our Guide To Business Loans in Spain, Everything you need to know.
Our Rating: 9.5/10
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✔️ From 1000€ to 50000€
✔️ Available for almost any purpose
✔️ Great for clients with a stable income
✔️ Fast process, money in 2-3 days
✔️ Website not in english, but with english support
We explain everything you need to know to finance your business, from types of credit or grants to which documents to submit, and how to get the best business loans at the moment:
Visit our general loans in Spain ranking & guide.
The Government has published in the BOE the Royal Decree Law 8/2020, of March 17, of urgent measures to face the economic and social impact of the COVID-19. This text includes different social, health and economic measures to solve this crisis.
In relation to financing measures to help companies and self-employed workers in the face of the crisis of this pandemic, we find the following points in CHAPTER III:
Approval of a line for State funding coverage
Extraordinary line of insurance coverage for export companies
In addition, the BOE also includes other measures that affect SMEs and the self-employed, such as the deferment of tax obligations, among other measures.
In order to obtain financing for our company it is important to take into account that each type of business will be able to access a different type of financing. The characteristics of each company will define the way in which we can get money. These are the different forms of business that exist:
Every business loan is a world and its characteristics will vary greatly depending on the type of credit and profile of our company, as well as our negotiating power. Although the parameters to be watched to know if we are facing a good offer will always be the same:
The evolution of technologies applied to finance, known by the English term fintech, has favoured the creation of new companies that grant loans to companies with all kinds of financial products. These are the different current alternatives to which we can turn if we want to apply for a loan to revitalize or launch our business:
Many factors influence the decision to opt for one lender or another, especially those specific to our business and its peculiarities. An analysis of our capital needs and our payment capacity will allow us to compare between the loans for companies that fit our profile.
The requirements for obtaining financing will not only vary with the type of loan we go to, but also with the entity with which we decide to apply for the credit. However, there are some basic conditions that all companies must meet in order to obtain loans:
These conditions may be more or less strict, i.e. annual income must be more or less high depending on the entity or type of credit, and there may also be additional requirements for contracting financing.
In the case of loans that are applied for in the name of a legal entity (a company), the documentation that lenders will ask for will be different. The entities will ask us for certain documentation that shows how our business is financially:
Depending on the entity, the delivery of these documents may be online or in person, although more and more entities allow sending the documentation through a courier. Likewise, more documentation can be requested in accordance with the analysis and risk policies of each lender.
Unlike loans, lines of credit give us an amount we can freely dispose of, paying only the interest on the principal we have used. This financial tool is very common among companies. In this way, we can have a reserve fund in case we need financing at times when we do not have working capital.
The ICO credit lines were created to promote the financing of companies by the banks, since, during the years of recession, these decreased the concessions considerably, although currently with the improvement of the economic situation the ICO lines are gradually disappearing.
It is a new form of financing for the self-employed and SMEs by which we can pay the invoices of one or more suppliers later. In this way it will be the lender who pays our supplier and we will pay the lender either in full later or in monthly installments the amount of the supplier’s invoices along with the interest generated.
In this case it will be private investors who decide whether to invest in our project or not. The amount that we can obtain depends on the crowdlending platform we go to, although it is usually around 100,000 euros. The term in which we will pay the credit also depends on the company we go to and the amount of our application.
It is exactly the opposite of factoring, that is, if we are suppliers we can, through this product of financing for companies, collect an order before delivering it in order to have liquidity and, once we collect the order when delivering it, we will return the money that the lending institution advanced to us.
These products offer us financing for our company if we have a property that we can use as a guarantee of payment. In the case of loans with mortgage guarantee for businesses, we can obtain a maximum percentage amount of the appraisal value of the property that we deposit as a guarantee. The time of analysis and granting of these loans is longer than the previous ones due to the appraisal processes involved.
They are platforms that have become popular in recent years thanks to the advance of new technologies. These types of platforms allow private investors and professionals to invest in our project. In return, these investors will get a share of our company and will get profits according to the benefits of our business. This is a way to obtain economic resources without having to go into debt.
Similar to equity crowdfunding, but with the difference that it is the managers of the Business Angels who decide as a group where they will invest and not each investor on a personal basis. This type of income generation for the company usually occurs in large projects and we must take into account that these investors will be part of our company.
In its English acronym, the 3 F’s (Friends, Family & Fools) could be translated as Family, Friends and Fools who help us invest in our business. The conditions of each investment will be agreed upon in a particular way with each one.
This is a measure to which more and more companies are resorting. With this method the company issues securities that would be equivalent to a piece of a loan with a return that will be given when it is “repurchased” at the end of the agreed term. This is known as fixed income investment and can be issued through banks or, if the company is large enough, through the stock market.
This alternative is only possible for self-employed people who want to start a business and consists of collecting all the unemployment benefit that we are entitled to if we use the capital to create a new company.
There is a lot of government support to start or grow the business. On the website Portal Pyme of the Ministry of Industry, Trade and Tourism they have a list of all current aid for companies.
These are platforms that help companies and entrepreneurs to find sponsors interested in our project. With this type of funding for companies, we will be able to publish our projects for sponsors to invest in. In exchange, we will reward the collaboration with a symbolic gift, which is usually greater the more money they contribute.
What is this page for: on this page we explain the different types of loans for companies that are available on the market, which entities and platforms can offer us financing and what we have to do to obtain liquidity without overpaying.
Source: the information obtained about the new providers of loans for companies has been obtained from the online portal of the Spanish Confederation of Small and Medium Enterprises (CEPYME).
Methodology: all the information about the financing products has been collected through online research and mystery shopping.
About FUNDGECKO: this online financial comparator aims to provide relevant information on personal finance. Through this website all users can, free of charge and without any obligation, compare and choose between the best current financial products, know all the significant information to be able to contract the product that best suits their economic situation in a responsible and informed way.
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