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Content ID: PR_WCS01_UCM01057278

BPI Vitis Line

Credit line which allows for advance funding of up to 100% of the financial incentive to be received from the Institute of Finance for Agriculture and Fisheries (Instituto de Financiamento da Agricultura e Pescas - IFAP), for applications approved within the scope of the Vitis - Support Scheme for the Reconversion and Restructuring of Vineyards in mainland Portugal.

Banco BPI | Support Credit Lines | BPI Vitis Line

Banco BPI | Support Credit Lines | BPI Vitis Line

Background

The Support Scheme for the Reconversion and Restructuring of Vineyards in mainland Portugal (VITIS) is one of the so-called Market Support Measures established under the CAP - Common Agricultural Policy, specifically aimed at supporting the viticulture sector.

Advantages

  • It is possible to start carrying out the investment as soon as the application has been approved;
  • Obtain liquidity due to the advance funding of up to 100% of the project incentive.

Beneficiaries

Natural or legal persons, whether public or private, who cumulatively:

  • Are, or will, be involved in viticultural activity (viticulture) in mainland Portugal;
  • Are owners of agricultural parcels with vineyards or are holders of valid titles that grant the right to their normal commercial operation for a minimum period of 5 years.

Eligible operations

Projects approved by the Regional Directorates for Agriculture and Fisheries (Direcções Regionais de Agricultura e Pescas - DRAP) for individual and group applications submitted to the Vitis Programme for agricultural operations:

  • 2016/2017
  • 2017/2018 

Amount

Fixed Term Loan for Advanced funding of Financial Incentive

  • Minimum: € 10.000;
  • Maximum: up to 100% of the financial incentive component of the application - financial funding.

Bank Guarantee for Advanced Funding of Financial Incentive

  • Minimum: € 25.000;
  • Maximum: 100% of the amount of the financial incentive as advanced funding (mandatory).

Term

Period: Up to 24 months, counting from the date of the communication of the decision to approve the Vitis application.

Repayment: After payment of the financial funding by IFAP, in an amount equivalent to the advanced value, all within a maximum period of 24 months counting from the date of the communication of the decision to approve the Vitis application, depending on which occurs first.

Guarantees

Fixed Term Loan for Advanced Funding of the Financial Incentive

  • Mandatory consignment of the amount of the financial incentive to be received through the BPI IBAN;
  • Other guarantees required by BPI.

Bank Guarantee for Advanced Funding of Financial Incentive

  • Other guarantees required by BPI.

Other Conditions

Commitment to maintain the BPI IBAN to receive the financial incentive.

De minimis aid

The financial incentive awarded under the VITIS Scheme (Reconversion and Restructuring of Vineyards in mainland Portugal) uses de minimis aid.

However, the loan to be granted or the guarantee to be issued under the BPI Vitis Line does not use de minimis aid.


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

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.