Skip to content
Content ID: PR_WCS01_UCM01057335

2017 Drought Line - Animal Feed

Line of credit intended to support the cash flow needs of livestock operators to compensate for the increase in production costs due to drought, with an impact on animal feed.

Banco BPI | Support Credit Lines | 2017 Drought Line - Animal Feed

Banco BPI | Support Credit Lines | 2017 Drought Line - Animal Feed

Background

Under the agreement signed between Instituto de Financiamento da Agricultura e Pescas (IFAP), SPGM - Sociedade de Investimento, S.A., Agrogarante - Mutual Guarantee Scheme and BPI, the Guaranteed Line of Credit for Minimising the Effects of the 2017 Drought - Animal Feed, totalling 5 million euros, was introduced.

This line supports companies in the livestock sector experiencing difficulties due to the drought.

Mutual Guarantee Schemes (MGS) guarantee up to 70% of the amount financed.

Main Advantages

  • Financing solution with maturity adequate for recovering costs incurred with animal feed during the drought;
  • Allows early (total or partial) repayment of loan principal, exempt from early repayment fee.

Beneficiaries

Micro and Small and Medium Enterprises (SME) including sole proprietors who do not maintain regular accounting records.

Amount

Minimum Financing Amount: € 10.000

Maximum Financing Amount: calculated based on the number of livestock registered under the name of the beneficiaries.

Term

Term of Operations: up to 24 months, after contracting of the operation.

Guarantees

Mutual Guarantee: autonomous first-call guarantee, provided by the MGS and intended to cover up to 70% of outstanding principal at any time.

Other Guarantees: other guarantees required by BPI, to be established pari passu in favour of Agrogarante and IFAP. 


For more information, please go to any BPI Branch or Corporate Centre or contact us.

Logo_Garantia Mutua_IAPMEI

Observations

This information is provided for advertising purposes and does not constitute a contractual offer; you must read the pre-contractual and contractual information required by law.

Contracting subject to prior approval by the entities involved and subject to the conditions defined according to the risk profile of each operation.

Banco BPI, S.A., Rua Tenente Valadim, 284, Porto, Tied Insurance Intermediary no. 207232431 (registered with the Insurance and Pension Funds Supervision Authority on 31-10-2017 - more details on the registration available at www.asf.com.pt); authorised to carry on insurance business in the Life and Non-Life Branches with the insurers BPI Vida e Pensões - Companhia de Seguros Vida, S.A., Companhia de Seguros Allianz Portugal, S.A. and COSEC - Companhia de Seguro de Créditos, S.A. Banco BPI, S.A. is not authorised to receive premiums or enter into contracts on behalf of COSEC, Allianz or BPI Vida e Pensões and, as an insurance intermediary, assumes no responsibility for the coverage of risks inherent in the insurance contract.