Seed capital is the initial financing – in the form of capital or a shareholder loan – for the creation of a new company or the start-up of business activity in phases.
Our objective from the area of seed capital is to cover the financing needs of new or recently created business projects with a high growth potential for Navarra. These should be innovative and be differentiated from products or services already in existence in the market, that allow an attack on new market niches and the creation of skilled employment for Navarra.
Seed capital in Sodena
Sodena supports seed capital projects with the sole guarantee of the project itself, through shareholder loans for convertible projects with the following main characteristics:
Up to €100,000 with an average "ticket" of €50,000.
Convertible into capital. If there is a further round of external finance, the company value for Sodena would have a discount.
Timescale: 5 - 8 years with a grace period of 1-3 years.
Interest rate: fixed (Euribor+3%) + variable depending on the activity and the results. The sum of both interest rates will not exceed 10%. Formalisation fee of 0,5%.