ENISA Loans: Funding With No Guarantees for Your Company

The main difference is how long the company has been trading. ENISA Entrepreneurs is aimed at companies incorporated within the last 24 months, with a maximum loan of €300,000. ENISA Growth is aimed at established SMEs with more than 24 months of trading, with funding of up to €1,500,000 for expansion, international growth or R&D investment. Neither line requires personal guarantees or collateral, and the grace and repayment terms are similar.

Yes. This is one of the main advantages of ENISA participating loans. No personal guarantees from the shareholders and no bank collateral are required. ENISA assesses above all the viability of the business plan, the strength of the founding team and the company's financial structure. That makes these loans one of the most accessible forms of public funding for startups and SMEs with no assets to pledge as security.

ENISA takes 2 to 4 months on average from the date the complete application is filed. During that period an ENISA analyst reviews the business plan and may ask for further documents or clarifications. Tecnocim handles those exchanges immediately so the process is not delayed. Once approved, signing the loan before a notary usually takes a further 2–4 weeks.

Yes. ENISA participating loans are compatible with most public grants: CDTI grants, ACCIÓ programmes, Kit Digital, Next Generation EU, R&D&I tax deductions and Social Security contribution reductions. Because a loan is a debt instrument rather than a grant, it does not usually count as State aid for cumulation purposes. Tecnocim advises you on how to combine ENISA with other incentives to maximise the total funding for your project.

ENISA participating loans carry interest in two tranches: a low fixed rate (Euribor plus a margin) and a variable rate linked to the company's results (return on equity). If the company makes no profit, only the fixed tranche is payable, and it is significantly lower than a conventional bank loan. The grace period of up to 7 years also lets the company grow without the pressure of repaying principal in the early years.

The ENISA application has 4 stages: 1) register on the ENISA online platform and complete the form; 2) prepare the business plan with 5-year financial projections; 3) file the application online with the corporate, tax and financial documentation; 4) assessment by the ENISA committee (3–6 months). Tecnocim prepares the business plan and all the documentation, and follows the file through to the decision.

ENISA Entrepreneurs is aimed at recently created SMEs (less than 2 years old), with loans from €25,000 to €300,000. ENISA Growth is for established companies that need to fund their expansion, with amounts from €25,000 to €1,500,000. Both lines offer participating loans with no personal guarantees or collateral. ENISA Young Entrepreneurs is a third line, for applicants under 40.

ENISA takes 3 to 6 months on average from the date the complete application is filed. Calls usually open early in the year and are decided in the order applications are received. Filing early, with impeccable documentation, cuts the waiting time considerably.