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