ENISA is one of the main public funding channels for growing companies, including innovative startups and SMEs across Spain. The National Innovation Company offers participative loans with more flexible conditions than traditional banks, making it a key player within the national entrepreneurial ecosystem.
Any SME with a growth project can co-finance its initiatives with ENISA it is not required any guarantees nor collateral allowing partners to complement investments with additional capital without putting any assets at risk.
Greater availability and flexibility
A significant change in 2025 is that ENISA has substantially increased its fund distribution capacity. While previously resources were allocated on a first-come, first-served basis and could run out during certain periods, they are now available throughout the entire year.
Additionally, the planned budget has tripled, reaching EUR 303 million, which will be allocated to startups and SMEs with growth projects.
The new funding program: ENISA Startups and SMEs
One of the most notable changes is the reorganization of the funding lines, aimed at supporting more growth projects.
The main innovation is the creation of the line Startups and SMEs, effective since August 2025. It replaces the old lines of Jovénes Emprendedores, ENISA Crecimiento and the new Startups lines and becomes the reference line. Its goal is to support innovative SMEs and startups presenting a viable project with growth potential.
Digital Women Entrepreneurs
For the past four years, this line has remained a strategic focus. It promotes female leadership in projects with a clear digital component and is aimed at companies in growth, consolidation, or internationalization stages.
To meet the requirements, the project must be led by at least one woman in the founding team, on the board of directors, or in relevant executive positions.
Other ENISA programs
ENISA maintains two vertical lines focused on strategic sectors. On one hand, the AgroInnpulso line, for companies in the agri-food sector and rural areas that incorporate technology or innovation into their value chain.
On the other hand, the Audiovisual and Creative Industries line supports SMEs in the audiovisual sector, video games, and the cultural and creative industries.
Exceptionally, the ENISA Dana line has also been activated, providing funds to SMEs affected by the DANA natural disasters.
Key conditions of the funding programs
ENISA loans range from EUR 25.000 up to EUR 1.500.000. For loans exceeding EUR 300.000, audited financial statements are required.
The variable interest rate combines two tranches: the first, Euribor (+4% or 6% depending on the operation’s rating), and the second tranche: Euribor (+4.5% or 6.5% depending on the operation’s rating and the company’s profitability).
Repayment terms can reach up to 7 years for the Startups and SMEs line, and up to 9 years for the others. Regarding grace periods, up to 5 years can be granted for the main line, and up to 7 years for the others.
Interests and principal are repaid quarterly, with the repayments gradually increasing over the years to ensure a balanced financial structure evolution.
There is an early repayment fee, charged as the equivalent of the second tranche of interest that would have accrued until maturity, calculated at the maximum rate, minus any interest already paid up to the early repayment date.
ENISA driving the entrepreneurial ecosystem
In 2025, ENISA reinforces its position as a key player in the Spanish innovation ecosystem, offering funding for growing startups and SMEs. Its model, based on flexibility and the absence of guarantees, consolidates it as an essential financing option to support projects in initial stages, funding rounds, and growth phases within an increasingly dynamic and competitive market. For more information, visit ENISA.
