The guarantee facility for businesses and self-employed people operating in Ceuta now has published terms. The Council of Ministers’ agreement of 15 September, published in the BOE on 22 September, develops Royal Decree-Law 22/2026, which Congress has ratified. It is intended to facilitate finance for liquidity, working capital and investment connected with keeping a business going or restoring its activity. The overall ceiling of €50 million concerns the principal covered by guarantees: it is not a direct grant distributed among applicants, and it does not mean a loan will be approved automatically.
Publication of the agreement must not be confused with the ICO facility becoming operational. The agreement gives the Official Credit Institute (ICO) thirty working days from its adoption to put the facility into effect. Before assuming applications can be processed, check the ICO’s operational announcement and whether the chosen lender has joined. The agreement published in Spain’s Official State Gazette (BOE) sets out the terms discussed below.
What the guarantee covers — and what it does not
The Spanish state, through the ICO, partially guarantees finance granted by credit institutions and specialised credit establishments supervised by the Bank of Spain. The lender still decides whether to grant the finance under its own credit-risk policy. The public guarantee covers unpaid principal only; it does not cover ordinary or default interest, fees or debt-recovery costs.
For small and medium-sized enterprises (SMEs), the guarantee may cover 80% of principal; for large businesses, 70%. This protects part of the lender’s exposure. It does not forgive the borrower’s debt: if repayments are missed, the business remains liable. Nor does it make the loan free of charge. The agreement says the ICO guarantee itself is not remunerated and rules out specified arrangement and early-repayment fees, but the cost of the borrowing must still be assessed against the lender’s actual offer.
There are two purposes. The liquidity and working-capital route addresses temporary needs connected with payroll, invoices and other payments, including certain financial or tax liabilities falling due. The investment route supports projects in Ceuta linked to the continuation or recovery of the business. In either case, the use of the funds must be genuine, evidenced and compatible with the applicable state-aid rules.
Who may qualify in Ceuta
The agreement is aimed at businesses and self-employed workers carrying on an economic activity in the autonomous city. A registered office, workplace or commercial, industrial or service establishment in Ceuta can establish that connection. The rules provide for a Spanish Tax Agency (AEAT) certificate confirming the registered office or census registration. Where a professional or digital activity has no establishment shown in the tax census, additional evidence may be used: for example, an opening licence or notification, a lease or other right to use premises, invoices, and contracts related to the activity actually carried out in Ceuta.
The definition of a business is broad. It includes craft and family activities, partnerships and associations that regularly undertake economic activity. However, financial and insurance-sector businesses are excluded under the definition used by the agreement, subject to its express clarifications for risk-and-damage assessment activities and insurance brokers. For this purpose, a self-employed worker carries on an activity habitually, personally and directly on their own account; employing staff does not, by itself, disqualify them.
Other conditions should be checked before approaching a bank. The applicant must be up to date with tax and Social Security obligations, must not appear in default in the Bank of Spain’s CIRBE credit register at the specified points, and must not fall within the sanctions, disqualifications, insolvency situations or “undertaking in difficulty” exclusions set out in the agreement. Where the applicant belongs to a group, the relevant group conditions must also be examined.
Liquidity and working capital: purpose, ceiling and term
This route is designed to help sustain employment and alleviate the economic effects of the events of 30 and 31 July 2026. It can finance temporary business payments such as wages, suppliers and liabilities falling due while activity recovers. The agreement sets a maximum nominal amount of €2,812,500 per loan and a maximum term of five years, always subject to EU state-aid rules and the lender’s assessment.
Renewals unrelated to those events are not eligible. There is a presumption of connection for certain transactions entered into from 30 July until the ICO facility’s launch is published on Banc@ico. That presumption is not automatic approval: the purpose and supporting records still need scrutiny. The general restriction on using a new transaction to repay existing finance early also matters. The specific exception for renewals linked to the events must not be treated as a general permission to refinance any debt.
Lenders may not charge arrangement or repayment fees covered by the agreement. A useful application identifies each cash-flow need against a particular invoice, payroll obligation or other payment, instead of presenting an unexplained lump sum. Tax and accounting support for freelancers and SMEs can help organise this evidence before discussions with the bank.
Investment: a new transaction tied to activity in Ceuta
The second route covers finance for investment in the autonomous city related to maintaining, recovering, adapting or relaunching economic activity. It may take the form of a loan, lease or rental arrangement, but it must be a new transaction entered into after the lender signs its agreement to participate in the facility. The financed assets or investments must be tied to the applicant’s industrial, commercial or service establishment in Ceuta.
This route excludes amendments, renewals and extensions of existing transactions, as well as new finance used to repay earlier debt ahead of schedule. The maximum amount of finance is €12.5 million per business. The permitted amount in an individual case still depends on the purpose, term, state-aid framework and bank approval. The ordinary maximum term for both the transaction and the guarantee is seven years; for certain agricultural investments or conversions it may be ten years. Ten years is not a standard term available to every applicant.
The project memorandum should state what is being acquired, where it will be used and how it relates to the Ceuta establishment. Quotes, contracts and cash-flow forecasts help the lender evaluate the project and demonstrate the use of the funds. A lender may not make the guaranteed loan conditional on buying its other products.
Keep the different dates separate
Eligible lenders may seek guarantees for finance agreements entered into within the window specified by the rules: from 30 July to 15 December 2026. Guarantees may be granted until 31 December. Separately, the agreement gives the ICO thirty working days from 15 September to make the facility operational. These are distinct milestones. The fact that a transaction date falls within the permitted window does not prove that every bank can process an application today. Nor is 31 December a reason to leave preparation until the last moment.
After a transaction is signed, the lender must notify the ICO and apply for the guarantee within the following month. The customer should confirm the lender’s participation, the chosen route, the documents required and the guarantee-processing steps, and retain the offer, contract and correspondence. The 2026 Spanish tax calendar helps track ordinary tax deadlines; this financing process requires separate monitoring.
ICO guarantees and AEAT direct aid are different measures
Royal Decree-Law 22/2026 also introduced direct aid for certain self-employed people, businesses and entities without legal personality in Ceuta. The Spanish Tax Agency’s online office provides the application procedure. Its FAQs say applications for that direct aid run from 14 September to 30 November 2026. The measure has its own census, activity and prior-return requirements, as well as a responsible declaration about the harm suffered. That application period belongs to the direct aid, not to the guarantee facility.
Direct aid is a transfer subject to its own eligibility rules and amounts; a guarantee partially backs finance that must be repaid. Qualifying for one does not establish eligibility for the other. An awarded grant, a bank liability and a public guarantee must also be tracked separately in the accounts: their legal nature, documentation and follow-up differ. Before combining measures, check their compatibility and state-aid limits, including de minimis rules where applicable.
How to prepare an evidence-based application
- Identify the applicant and its link with Ceuta. Gather census registration, registered-office details or alternative proof of real activity. If a group is involved, document its structure.
- Distinguish the purpose. For liquidity, match temporary cash needs to payments and cash flow. For investment, specify the assets, establishment, budget and project timetable.
- Check eligibility. Review tax and Social Security standing, CIRBE records, previous aid, insolvency circumstances and sector exclusions before signing declarations.
- Examine the bank’s offer. Ask for total borrowing cost, term, any additional security, the relevant route, guarantee percentage and confirmation that the lender has joined and can process the facility.
- Keep an audit trail. Retain the documents submitted, the lender’s decision, the agreement and guarantee correspondence. Track any direct aid separately.
Preparation does not guarantee approval, but it can reveal a missing document or an incompatibility early. If you run an activity in Ceuta and need to organise the tax, accounting and financial file before approaching a lender, ask Advixy to review your circumstances. The first step is to test whether the proposed use fits the relevant route; only then should the documentation for the lender be assembled.
Frequently asked questions about the Ceuta ICO guarantees
Is the guarantee facility already open at every bank?
No. Publication of the terms does not show that every lender has joined or is operational. The agreement tasks the ICO with implementing the facility. Check the ICO’s announcement and ask the particular lender whether it can process transactions under this facility.
Will the state pay 80% of any self-employed person’s loan?
No. The 80% figure is the share of principal that may be guaranteed for eligible SME transactions. Coverage depends on eligibility, the financing route and the bank’s decision; the borrower must still repay the finance.
Can an investment loan be used to cancel an earlier debt?
No. The agreement excludes new investment-route transactions used to repay previous finance early. It also excludes amendments, renewals and extensions of existing transactions under that route.
Are AEAT direct aid and the ICO guarantee the same application?
No. Direct aid is requested through the AEAT procedure and has separate requirements. The guarantee is arranged through finance granted by an eligible lender and administered with the ICO. The two measures have different deadlines and economic effects.
Official sources consulted
- BOE-A-2026-19684, terms of the Ceuta guarantee facility, published 22 September 2026.
- BOE-A-2026-18429, Royal Decree-Law 22/2026 of 1 September.
- BOE-A-2026-19420, ratification of Royal Decree-Law 22/2026.
- Spanish Tax Agency, support measures for Ceuta businesses and self-employed people.
- Spanish Tax Agency, FAQs on the direct aid.
Official sources consulted on 25 September 2026. This is general information, not an assessment of a particular transaction or confirmation that a specific lender is operational. Finance and aid depend on the applicable conditions, the evidence submitted and the decisions of the competent bodies and lenders.
