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What is it?

Up to 1.5MEur (per company) financing of working capital needs of Micro, Small and Medium Enterprises (SMEs) and, to a lesser extent, of Large Enterprises

Requirements for requesting the Loan

Presentation of a statement proving the negative impacts of the Covid-19 outbreak on the company's activity, namely the drop in sales by at least 20% in the last 60 days, compared to the same period last year (template provided by the bank).

Additional documentation required, namely balance sheet and non-debt certificates among other documentation

Non-eligible operations

- Financial restructuring and/or consolidation of existing credit;

- Direct or indirect replacement of financing previously agreed with the bank;

- Acquisition of real estate (some exceptions apply), used assets, vehicles that do not assume the character of "means of production" and vehicles for the transportation of goods purchased by road freight carriers on behalf of third parties.

- Financial transactions for activities related to exports, namely the creation and operation of distribution networks.

Loan Conditions

- Capital Reimbursement: Equal instalments (either monthly, quarterly or half-yearly and post-paid)

- Maximum Transaction Term: Up to 4 years

- Maximum Capital Grace Period: Up to 12 months

- Fixed Interest Rate (Option A): Euribor swap for the term of the operation + spread

- Variable Interest Rate (Option B): Euribor for 1, 3, 6 or 12 months + spread

- Spread: 1.928% -3.278%

- Mutual Guarantee: 80% (the bank can only request the Company a guarantee of up to 20% of the total loan amount)

More information

https://financiamento.iapmei.pt/inicio/home/pesquisa?texto=Covid

Call IAPMEI (213836237) or your bank

What is it?

Up to 1.5MEur (per company) Revolving Credit Facility for Micro, Small and Medium Enterprises (SMEs) and, to a lesser extent, for Large Enterprises

Requirements for requesting the Loan

Presentation of a statement proving the negative impacts of the Covid-19 outbreak on the company's activity, namely the drop in sales by at least 20% in the last 60 days, compared to the same period last year (template provided by the bank).

Additional documentation required, namely balance sheet and non-debt certificates among other documentation

Non-eligible operations

- Financial restructuring and/or consolidation of existing credit;

- Direct or indirect replacement of financing previously agreed with the bank;

- Acquisition of real estate (some exceptions apply), used assets, vehicles that do not assume the character of "means of production" and vehicles for the transportation of goods purchased by road freight carriers on behalf of third parties.

- Financial transactions for activities related to exports, namely the creation and operation of distribution networks.

Revolving Credit Conditions

- Maximum Transaction Term: Up to 3 years

- Maximum Capital Grace Period: Up to 12 months

- Fixed Interest Rate (Option A): Euribor swap for the term of the operation + spread

- Variable Interest Rate (Option B): Euribor for 1, 3, 6 or 12 months + spread

- Spread: 1.943% -3.278%

- Mutual Guarantee: 80% (the bank can only request the Company a guarantee of up to 20% of the total loan amount)

More information

https://financiamento.iapmei.pt/inicio/home/pesquisa?texto=Covid

Call IAPMEI (213836237) or your bank

Which taxes are eligible?

VAT ("IVA"), IRS and IRC

Which entities can benefit?

- Companies or freelancers with total revenue up to 10MEur in 2018

- Companies that initiated their activity on or after 2019

Payment in instalments

- Option A - three monthly instalments without interest

- Option B - six monthly instalments, with interest ("juros de mora") being applied only to the last three

- No guarantee requested

Extended Period for the IRC tax

- Postponement of the Special Payment on Account ("Pagamento Especial por Conta") from March 31 to June 30

- Model 22 (IRC Declaration + Payment/settlement) postponed to July 31

- First payment on account ("Pagamento por Conta") and the first additional payment on account ("Pagamento Adicional por Conta") from July 31 to August 31

More information

https://covid19estamoson.gov.pt/medidas-excecionais/#empresas

Which taxes are eligible?

Social Security

Which entities can benefit?

- Companies with up to 50 employees

- Companies with up to 250 employees that have had a 20% reduction of revenue

Delayed payment of Social Security regarding Feb/2020

On 2020/03/20 Social Security announced that the payment of the Social Security contributions regarding Feb/2020 were postponed until further notice

Payment in instalments

-Social Security contributions are reduced to 1/3 in March, April and May. The remaining amount is paid in instalments:

- Option A - three monthly instalments without interest

- Option B - six monthly instalments, with interest ("juros de mora") being applied only to the last three - No guarantee requested

More information

https://covid19estamoson.gov.pt/medidas-excecionais/#empresas

Extended Period

The General Assembly of Shareholders to approve 2019's accounts can be performed without any penalty until 2020/jun/30.

Telematic meetings

If the Bylaws allow for it, these meetings can be done remotely. Otherwise, you can include a revision of the Bylaws for the next General Assembly to allow for Telematic meetings in the future

More information

https://dre.pt/home/-/dre/130243053/details/maximized (Art. 18)

Estamos ON Portal

The Government launched the EstamosOn Portal to provide information on everything related to Covid-19 measures and incentives.

More information

https://covid19estamoson.gov.pt/medidas-excecionais/#empresas