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Content ID: PR_WCS01_UCM01057294

Capitalizar Mais Line

BPI, IFD and Mutual Guarantee Societies support investment by companies.

Background

The IFD 2016-2020 Mutual Guarantee Facility has been renamed: Linha Capitalizar Mais.

This is a loan facility agreed between IFD (Instituição Financeira de Desenvolvimento, S.A.), mutual guarantee schemes (Agrogarante, Garval, Lisgarante and Norgarante) and BPI, aiming at giving support to companies through the access to loans under more favourable conditions.

The overall amount of the line is € 1 billion, broken down as follows:

  • € 315 million for the Northern Region;
  • € 257 million for the Alentejo;
  • € 252 million for the Centre Region;
  • € 88 million for Lisbon;
  • € 9 million for the Algarve;
  • € 79 million for the Azores.

The Capitalizar Mais Line, within the framework of the Capitalize Program promoted by the Government, is designed to finance the investment and working capital of Small and Medium Enterprises (SMEs) in Portugal and in the Autonomous Region of the Azores, and it works with funds from Portugal 2020 Program. 

In December 2018, and following the Portugal 2020 reprogramming, the scope of the Protocol was extended, thus enabling the Refundable incentive component of IS Innovation to be financed.

In this context, the Innovation SI that operated in a Reimbursable Incentive regime partially convertible into Non-reimbursable Incentive, now has two incentive components:

  • Non-refundable Incentive  - to be disbursed with Portugal 2020 funds;
  • Refundable Incentive - under the form of bank financing with interest * and mutual guarantee commission subsidized.

* The integral interest subsidy is only guaranteed in the form of fixed interest rate. Effectively, in the variable interest rate modality (indexed to 12-month Euribor), the bonus will cease once the total amount of the bonus exceeds the amount that would result from the application of the fixed rate in force at the time the transaction was framed.

Advantages

  • Access to a subsidised credit line with Mutual Guarantee;
  • Financing amount: no limit (however, the value of the guarantee to be provided by SGM can not exceed € 4.000.000 per company);
  • Interest subsidized on financing operations in the scope of IS Innovation.
  • Possibility to complement investments made under Portugal 2020: ineligible investments and working capital.

* Total interest subsidy is guaranteed only in the form of fixed interest rate. Effectively, in the variable interest rate modality (indexed to 12-month Euribor), bonus will cease once the total amount of the bonus exceeds the amount that would result from the application of the fixed rate in force at the time the transaction was framed.

Beneficiaries

Small and Medium-sized Companies certified by IAPMEI, including Individual Entrepreneurs and micro companies.

Fisheries and fish processing sectors are excluded.

Eligible operations

Type of operations / financing:

  • Capitalizar Mais Line | General:
    - Fixed Term Loans
    - Equipment Leasing
    - Leasing Real Estate
  • Capitalizar Mais Line | SI Innovation:
    - Fixed Term Loans

 

Amount

Maximum amount of funding: no limit.

 

Term

Capitalizar Mais Line | General: Up to 12 years; 
Capitalizar Mais Line | SI Innovation: 8 years (10 years in case of projects to create new hotel establishments and tourist complexes).

Guarantees

On-first demand autonomous guarantee provided by SGM to 80% of the amount of the of the outstanding capital.

Other guarantees required by BPI, formed in pari passu with the Mutual Guarantee Companies and the Line Manager.

Type of Solution

Fixed Term Loans and Equipment Leasing to finance investment in tangible and intangible assets and, as a complement, working capital.

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