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Company Requirements

To be able to apply for this financing line, your company must meet the following requirements

• Have at least one facility, production branch, or business operation branch located in the Valencian Community.
• Demonstrate at least two years of operation as of the application date.
• Have at least one employee or one self-employed individual affiliated with the company.
• Be in possession of all licenses, authorizations, and permits necessary for the project’s execution and comply with applicable national and EU regulations, particularly regarding competition, public procurement, and the environment.
• Not be subject to any of the following situations:
  • Entries in delinquency records.
  • Negative equity as of the application date.
  • Continuous losses in the last two fiscal years.
• Achieve an estimated credit rating of no less than B on the Standard & Poor’s scale, in accordance with IVF’s internal procedures. When the transaction is 100% guaranteed by AFIN-SGR, the guarantor’s rating is considered; for advance payments for services to the Generalitat, the rating of the Generalitat Valenciana itself is considered.
• Definition of SME, for the purposes of the maximum loan amount:
  • SME: fewer than 250 employees and annual revenue ≤ 50 M€ or annual balance sheet total ≤ 43 M€.
  • Small business: fewer than 50 employees and revenue or balance sheet total ≤ 10 M€.
  • Microenterprise: fewer than 10 employees and annual revenue or balance sheet total ≤ 2 M€.
  • The data is aggregated with that of affiliated and related companies. A company is not considered an SME if 25% or more of its capital or voting rights is controlled by public entities.
• The following are not eligible: public-law entities, public universities, autonomous agencies, public enterprises, public commercial companies (those in which more than half of the share capital belongs directly or indirectly to a public administration), public foundations, and companies in which these entities hold a majority stake.
• Excluded sectors of activity:
  1. Illegal economic activities.
  2. The production and trade of tobacco products and distilled alcoholic beverages, and related products.
  3. Production and trade in weapons and ammunition of any kind, unless they form part of or are ancillary to explicit European Union policies.
  4. IT sector: research, development, or technical applications of software or electronic data solutions intended to support the restricted sectors listed above, online gambling, online casinos, or pornography; or that seek to facilitate illegal access to data networks or the illegal downloading of data.
  5. Companies that focus their activities on the financial or real estate sectors, except for PROPTECH companies and those whose business consists of providing workspaces to startups or technology-based companies.
  6. Financial intermediation, insurance, and banking services, except for FINTECH and INSURTECH.
  7. Cryptocurrency brokerage.
• Intragroup lease rule: If the financing is used to acquire or construct production facilities to subsequently lease them to a group company, the IVF considers the CNAE of the lessee, provided that (a) the lessor’s revenue from third parties outside the group is less than 10% of its total revenue and (b) the lessee provides a security deposit to the lessor for at least 100% of the loan’s principal and ordinary interest. Group as defined in Article 42 of the Commercial Code.

Limits

The following limits apply to this financing line

• Mixed-activity business: A company that operates simultaneously in both excluded and non-excluded sectors may be eligible, provided that it ensures—through the separation of activities and the distinction of costs—that the excluded activities do not benefit in any way from the funding.
• There is no de minimis limitation.