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Content ID: PR_WCS01_UCM01082665

Qualificação da Oferta 2018 Line - Turismo de Portugal

€ 120 million to support tourism companies, including € 30 million specifically allocated to the Algarve region.

Banco BPI | Qualificação da Oferta 2018 Line - Turismo de Portugal

Banco BPI | Qualificação da Oferta 2018 Line - Turismo de Portugal

Background

In August 2018, Tourism Promotion Support Line was renewed with the Turismo de Portugal, and such credit line's overall value was increased by € 120 million.

Purposes

  • Refurbishment, expansion and creation of:
    - tourism enterprises and local accommodations (excludes apartments)1;
    - recreational or entertainment ventures, equipment or activities;
    - catering and drinking establishments.
  • Refurbishment of establishments with the Lojas com História ("Historical Shops") distinction;
  • Entrepreneurship Projects in the Tourism Sector.

In addition, the Specific Line for Tourism Development (Apoio à Valorização) in the Algarve (Algarve Line), with an allocation of € 30 million (included in the overall allocation), which is also subject to the regime applicable to investment projects in low-density areas.

1 Local accommodation ventures and establishments are only eligible if created in low-density areas.
 

Advantages

  • Benefit from a 0% interest rate for the Turismo de Portugal tranche (except in case of accommodation establishments that do not involve the recovery of assets classified as a national monument or real estate of public interest);
  • Funding for projects promoted by Small and Medium-Sized Enterprises (SMEs) is not classified as de minimis aid, provided that the investments start only after the application for funding;
  • Possibility of awarding a performance bonus for projects with job creation developed by SMEs located in low density territories, which will allow the conversion of up to 20% of the Turismo de Portugal tranche into a non-repayable incentive;
  • Working capital of up to 10% of eligible investment (subject to de minimis aid) may be included in the financing.

Beneficiaries

  • Tourism companies of any size, including individual business owners, with tourist projects that can be included and that comply with the other framework conditions and access to this credit line.
  • The territorial scope of the projects is mainland Portugal and the Autonomous Regions.

Eligible Operations

Type of Operations:

  • Fixed-term loan

Amount

  • Maximum amount of financing of 75% of the eligible investment value, with the following limits:
    - General Line - maximum amount of € 2 million in the Turismo de Portugal tranche;
    - Entrepreneurship Projects - maximum amount of eligible investment of € 500.000.
  • Minimum amount: € 25.000.

Term

  • Operations up to 15 years.
  • Grace period: up to 48 months.

Guarantees

Guarantees to be agreed upon with BPI.

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.