Closed since june 14th 2019

The Credit Line to Support Revitalization of Albufeira Commerce Sector, available from April 15, 2016, has an overall envelope of 3.5 million Euro and aims to support companies in the trade sector located in Albufeira, who have suffered damage from the storm of November 2015. It is a line of credit with a mutual guarantee, counter-financed by the Fund for the Modernization of Commerce (Fundo de Modernização do Comércio), which also provides for the payment of fees charged by mutual guarantee companies.

Financing of investments in construction and replacement equipment resulting from damage caused by the storm, duly identified by the aggrieved company, validated by the City Council or other local authority which will be defined, and working capital, with the 20% limit investment value 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 70% of the amount outstanding at each point of time.

Full rebate of mutual guarantee fee, corresponding to 1.7% of the outstanding principal at each moment of time.

Interest rate subsidy at 1.75%

The companies and the Bank shall negotiate with a maximum cap corresponding to Euribor (12 months) plus a spread of 1.5% maximum.

For further information consult the Disclosure Document

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