Purpose
Funding for Small and Medium Enterprises and Professionals to cover their investment plans or to enhance their liquidity with working capital.
- Investment loan costs relate to costs of tangible and intangible assets (e.g. purchase of equipment, modernization of facilities, acquisition of software, etc.)
- Working capital expenditures can meet the current needs of businesses (e.g. purchase of raw materials & goods, salaries, rents, etc.)
This funding can not be used to refinance or restructure of existing business loans.
Amount and Duration of Finance
For Small Business and Professionals (with a turnover of up to € 2.5 million) from € 7.000 to € 900.000
- Investment loan from € 10.000- € 900.000 with a duration of 1 to 10 years
- Working Capital from € 7.000- € 900.000 with a duration of 1 to 7 years
For Medium size enterprises (companies with Turnover> € 2.5 million- € 50 million) from € 10.000 to € 1.875.000
- Duration from 1 to 10 years for amounts up to € 900.000
- Duration from 1 to 5 years for amounts up to € 1.875.000
Grace Period
- Up to 1 year for working capital
- Up to 2 years for investment loans
During the grace period only interest will be paid
Currency
Euro (€)
Interest Rate
Variable based on the :
- Euribor 1M / 3M (for Small Businesses and Professionals) and Euribor 3M / 6M (For Medium Size Enterprises)
The interest rates are charged with the interest margin and the contribution of L.128 / 75, which currently amounts to 0.60% .
The customer's final interest rate is determined on the basis of an assessment of its Creditworthiness.
Repayment
- For Small Businesses and Professionals: Monthly, 3-month interest installments (capital and interest)
- For Medium size enterprises: Monthly, 3-month, 6-month interest-bearing capital and interest)or installment (capital only) installments
Disbursements
One-off or Partial instalments. The allocation of the Program expires on 31.12.2023, unless the budget of the program is depleted earlier.
Collaterals
Reduced collateral requirements due to the offered guarantee of the Investment Guarantee Fund (EEGGF)