The Credit Line to Support Business Sector and Recovery of Companies affected by fires, available from October 24, 2016, has an overall envelope of 10 million Euro and aims to support companies that suffered damage caused by the fires that affected several regions of the country in the summer of 2016, including the Autonomous Region of Madeira.

Eligible operations

Financing of investments in construction and replacement of equipment resulting from damage caused by the fires, as well as investments in fixed assets associated with mandatory relocation projects when companies are implanted in considered high-risk areas, situations to prove through statement to be issued by their local authority or other authority that will indicate;

working capital financing with a limit of 30% of the value of investment in fixed capital

Financial restructuring and / or consolidation loans and advances;

operations to liquidate or replace directly or indirectly, albeit under different conditions, funding previously agreed with the banks;

Acquisition of vehicles and goods in state of use.

Loans to enter under this line benefit from an independent guarantee on first demand provided by SGM, to guarantee up to 75% of the amount outstanding at each moment of time.

Full rebate of mutual guarantee fee corresponding to 1.5% of the outstanding principal at each moment of time.

Interest rate subsidy of 75% of the spread contracted for the operation, with a maximum limit of 3.25%

The companies and the bank shall negotiate with a maximum cap corresponding to Euribor (12 months) plus 25% of the spread contracted for the operation, with a maximum limit of 3.25%.

For further information consult the Disclosure Document.

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