Smalle Technologies Obtains a Neotec Loan

2018-08-14T09:18:23+00:00 March 4th, 2013|

The Centre for Industrial Development (CDTI) has conceded Smalle Technologies a Neotec loan worth 180,000 Euros to develop its project.

Neotec loans can only be conceded to technology-based companies which have their own lines of R&D and spend a minimum of 15% of their expenditure to that aim. They are conceded after an extensive evaluation by the CDTI which lasts several months. The interest rate on the credit is Euribor at 1-yr + 0.10%, and the credit is paid back when the company has a positive cash flow. The company is only obliged to pay back part of the principal after the eighth year, a minimum of 12.5%, so that the loan is paid back in full after 15 years. Nevertheless, the loan will be conceded after a capital increase of at least 80,000 Euros by Smalle.