The first Erasmus+ Master loan is now available in Spain from 15 July 2015 onwards. This agreement in Spain will provide

financial support for students from Spain taking their master's degree in one of the 33 Erasmus+ Programme countries or for students from these countries moving to Spain to study for their master's. Students can apply for the loans directly with Microbank (the social branch of La Caixa) in Spain.

More info.