650 million euros in 2022 for the FUND FOR SUPPORT OF PRODUCTIVE INDUSTRIAL INVESTMENT (FAIIP)

At IMPULSO, we are pleased to remind you that the FUND FOR SUPPORT OF PRODUCTIVE INDUSTRIAL INVESTMENT (FAIIP) has a budget of 650 million euros in 2022. This fund, promoted by the Ministry of Industry, Trade and Tourism and managed by the State Company SEPI DESARROLLO EMPRESARIAL, S.A., S.M.E. (SEPIDES), is structured as the evolution of the REINDUS program.

The objective of this fund is to stimulate industrial development, strengthen competitiveness, and maintain the territory’s industrial capacities.

At IMPULSO, we have a success rate close to 100% in managing this fund over the last 20 years, thanks to our significant specialization in industrial projects, which we can bring to your industrial project.

Below, we summarize the main characteristics of these grants:

BENEFICIARIES

The FAIIP will finance private commercial companies and cooperatives that develop or will develop a productive industrial and industrial services activity, classified under Section C-Divisions 10 to 32 of the National Classification of Economic Activities (CNAE 2009).

Also activities classified under section 38.3x, if they have waste management authorization at the time of application, and the project to be carried out is classified as belonging to recovery operations: R2, R3, R4, R5 (excluding soil cleaning), R6, R7, R8, R9, R11, according to definitions established in Annex II of Law 22/2011, of July 28, on waste and contaminated soils.

Activities complementary to industrial production (CNAE 82.92, 52.10, 33 with exceptions and always related to industrial activity)

Industrial services activities (CNAE 71.12 and 71.20)

TYPES OF PROJECTS

• Creation of industrial establishments.
• Relocation of industrial establishments.
• Improvements and/or modifications of production lines. Including the productive implementation of ‘Connected Industry 4.0’ technologies and actions on lines aimed at environmental sustainability

ELIGIBLE COSTS

• Civil works: urbanization and piping, expressly excluding land.
• Construction: acquisition, construction, expansion, or adaptation of industrial buildings, as well as their facilities and equipment not directly linked to the production process.
• Production machinery and equipment, excluding external transport elements, furniture, and tools. These may be new or used.
• Intangible assets: Specific software linked to the production process; patents, licenses, trademarks, and similar; research and development, only to the extent that they are directly linked to the production process and to the production machinery and equipment included as fundable concepts in the application.
• Costs for in-house staff and external collaborations necessary for the design and/or redesign of processes, directly linked to the machinery and equipment included in that budget item.
• Credit rating costs associated with the financing application, if required.
• Account audit expenses in the case of companies not obliged to audit (during the life of the financing).
• Audit expenses associated with the justification of the investment within the framework of the financed project.

PROJECT REQUIREMENTS

• Investment execution period: Both budget items that have been executed and not paid from 6 months prior to the application date, and those executed up to 2 years after the financing formalization date, will be eligible for financing.
• Investments in Production machinery and equipment and specific production-linked software must be at least 50% of the Eligible Budget.

TYPE AND INTENSITY OF SUPPORT

The maximum amount granted for each operation is up to 75% of the eligible project budget, with operation amounts ranging between 200 thousand and 60 million euros.

Financing will be provided through ordinary loans, participating loans, temporary and minority capital participation, or mixed formulas combining the above, with long-term operations (up to 10 years) and long grace periods (up to three years for ordinary and participating loans). The cost of financing will be applied based on the company’s financial rating, the project, the type of operation, and any bonus that may apply for meeting industrial impact criteria, established within the following ranges:

• Between 1.5% and 4.5% for ordinary loans.
• Between 2.5% and 7.5% for participating loans.
• Between 4.5% and 8% for capital participation.
• Possible to apply a 0.5% bonus if certain requirements are met.

SUBMISSION DEADLINE

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BUDGET ALLOCATION:

Budget allocation for the year 2022 of 650 million euros.

15/03/2022