Covid-19 Social Sector Support Line


BPI, the Financial Management Institute for Social Security (IGFSS), Sociedade Portuguesa de Garantia Mútua (SPGM) and Mutual Guarantee Companies (MGC) support Social Economy Entities (SEE) with the objective of facilitating access to credit on more advantageous terms to these entities.


The Covid-19 Social Sector Support Line, protocoled between the Financial Management Institute for Social Security (IGFSS), SPGM, MGC (Garval, Lisgarante and Norgarante) and BPI, is a guaranteed line with an overall budget of €165 million, valid until 31 March 2021.

This line follows the various emergency measures defined by the international and national health authorities necessary to contain the spread of the virus, including the enforcement of restrictions on the circulation of people and goods, with a huge socio-economic impact on many sectors of activity in Portugal, particularly Social Economy Entities (SEE).

  • Access to credit under most advantageous protocoled terms;
  • No obligation for acquisition or pledge of shares of the Mutual Guarantee Company;
  • Simplification of the decision-making and contracting process: less time and less bureaucracy.

Social Economy Entities (SEE) that are Private Charitable Institutions or non-profit entities equated to Micro and Small and Medium Enterprises (SMEs), as defined in Recommendation 2003/361/EC of the European Commission, located in national territory.

Eligible Operations

Fixed-term loan

  • Operations intended exclusively for financing treasury needs.

Maximum funding per beneficiary: €500,000.


Maximum term: up to 6 years

  • Autonomous first-demand guarantee provided by MGC to guarantee up to 90% of the outstanding principal;
  • Neither BPI nor MGC can require the Client to provide any type of additional guarantee or collateral (personal or equity).


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



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; 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.