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We are pleased to be working with the Malta Development Bank (MDB) and offering this lifeline to businesses who urgently need this service.
We are pleased to be working with the Malta Development Bank (MDB) and offering this lifeline to businesses who urgently need this service.
Financing |
SMEs – up to €2 million (up to €10 million subject to MDB Approval) Large Enterprises – up to €5 million (up to €25 million subject to MDB Approval) *Financing limits are determined according to set criteria. See next section below |
Interest Rate |
3% per annum over the three-month Euribor (no 0% flooring applicable) |
Interest Rate Subsidy |
Clients will also benefit from any Government interest rate subsidy |
Guarantee Fee |
Guarantee fees as approved by the EU Commission apply. |
Loan Term |
Minimum 18 months. Maximum 48 months. The term can be increased to 72 months with additional terms and conditions |
Moratorium |
6 months (Possible extension to 18 months depending on specific criteria.) |
Eligibility Period |
The applicability period of the CGS has been extended until 30 June 2022 in terms of the European Commission decision SA.100998 (2021/N). |
Financing |
SMEs – up to €2 million (up to €10 million subject to MDB Approval) Large Enterprises – up to €5 million (up to €25 million subject to MDB Approval) *Financing limits are determined according to set criteria. See next section below |
||
|
3% per annum over the three-month Euribor (no 0% flooring applicable) | ||
Interest Rate Subsidy | Clients will also benefit from any Government interest rate subsidy | ||
|
Guarantee fees as approved by the EU Commission apply. | ||
Loan Term |
Minimum 18 months. Maximum 48 months. The term can be increased to 72 months with additional terms and conditions |
||
Moratorium |
6 months (Possible extension to 18 months depending on specific criteria.) |
||
Eligibility Period | The applicability period of the CGS has been extended until 30 June 2022 in terms of the European Commission decision SA.100998 (2021/N). |
Businesses interested in applying for Izola Boost can find out more by sending an email to [email protected]
How is the total financing limit established?
The loan amount applied for should not exceed:
Double the annual wage bill of the beneficiary (including social charges as well as the cost of personnel working on the undertakings site but formally in the payroll of subcontractors) for 2019.
In the case of undertakings created on or after 1 January 2019, the maximum loan must not exceed the estimated annual wage bill;
OR
25% of total turnover of the beneficiary in 2019.
With appropriate justification the amount of the loan may be increased to cover the beneficiary’s liquidity needs, from the moment of granting of the facility, for the coming 18 months for SMEs and for the coming 12 months for large enterprises.
What can this loan be used for?
Eligible costs under these loans are:
The COVID Guarantee Scheme (CGS) shall not cover restructuring or rescheduling of existing facilities.
Who is eligible?
All loans are subject to acceptance under normal lending criteria as per the Bank’s Credit Policy and will require approval by the Bank.
Eligible enterprises are business undertakings established and operating in Malta, consisting of:
What information do you need to supply?
For eligibility assessment purposes, you will need to provide us with:
More Information
Further details about the MDB COVID-19 Guarantee Scheme can be found on the Malta Development Bank website.