Line Tourism 2021
This line aims to broaden the range of solutions currently offered to support the sustainable recovery of tourism, namely by strengthening the working capital of its stakeholders and promoting investments relevant to the sector.
Global Deadline
Up to 10 years
Financing
Up to 5.000.000,00€
Grace Period
Up to 48 months
Eligible Entities
Micro-enterprises
SMEs
Small MidCaps
MidCaps
Large Enterprises
Line Tourism 2021
This line aims to broaden the range of solutions currently offered to support the sustainable recovery of tourism, namely by strengthening the working capital of its stakeholders and promoting investments relevant to the sector.
Global Deadline
Up to 10 years
Financing
Up to 5.000.000,00€
Grace Period
Up to 48 months
Eligible Entities
Micro-enterprises
SMEs
Small MidCaps
MidCaps
Large Enterprises
Objectives and characteristics
- This credit line seeks to expand the range of solutions currently offered to support the sustainable recovery of Tourism, namely by strengthening the working capital of its stakeholders and stimulating investments relevant to the sector.
- Micro-enterprises
- SMEs
- Small MidCaps
- MidCaps
- Large Enterprises
- Beneficiaries Obligations
- Located in national territory
- IAPMEI certification for Micro and SMEs
- Main activity carried out under the following CAE codes: 49392, 551, 55201, 55204, 55300, 561, 563, 771, 79, 82300, 93110, 93192, 93210, 93292, 93293, 93294
- Fulfill the legal conditions required for carrying out their activity
- Have organized accounting and a balanced economic and financial situation
- Have a regularized situation with the Tax Authority (AT), Turismo de Portugal, the Financial System, and Social Security (SS) at the date of contracting the financing
- Fulfill the obligation to register with RCBE and all related legal obligations.
- Beneficiaries Obligations
- The beneficiary must not be subject to insolvency proceedings nor meet the criteria, under the law, to be placed under insolvency proceedings
- Have one year of positive equity as of the 2019 financial year. Companies unable to prove this condition in closed accounts may still access the line if this situation is regularized in an interim balance sheet by the date of their application
- Must not fall under the following categories:
- a) Entities headquartered or effectively managed in countries, territories, or regions with clearly more favorable tax regimes
- b) Companies controlled, under article 486 of the CSC, by entities (including fiduciary structures of any kind) headquartered or effectively managed in such territories, or whose ultimate beneficial owner resides there
- Note: In the case of companies with main activity under CAE 49392, a statement from the respective ROC/CC is required, confirming that at least 50% of the company’s 2019 turnover was related to tourist transport..
- How to Apply
- The company must contact a participating credit institution or Mutual Guarantee Society (SGM) and submit the financing/application request to the Line.
- Eligible Operations
- Specific Working Capital Line:
- Operations intended exclusively to finance treasury needs
- Specific Investment Line:
- Operations intended to finance investment in tangible and intangible fixed assets that contribute to the development of the company’s activity.
- Specific Bank Guarantees Line:
- Bank guarantees issued in favor of third-party entities, domestic or foreign, to ensure the proper execution of investments or events, or compliance with payment obligations.
- Specific Technical Guarantees Line:
- Financial guarantees and performance guarantees issued in favor of third-party entities, domestic or foreign, to ensure the proper execution of investments or events, or compliance with payment obligations.
- Specific Working Capital Line:
- Maximum Financing Amount
- Working Capital Line:
- Micro-enterprises: up to €250,000.00
- Small Enterprises: up to €750,000.00
- Medium Enterprises, Small MidCaps, MidCaps, and Large Enterprises: up to €1,500,000.00
- Investment Line:
- Up to €4,500,000.00
- Bank Guarantees Line:
- Maximum guarantee per operation of €5,000,000.00
- Technical Guarantees Line:
- Maximum guarantee per operation of €5,000,000.00
- Working Capital Line:
- Overall Financing Term
- Working Capital Line:
- Up to 6 years
- Investment Line:
- Micro or SMEs: up to 20 years
- Small MidCaps, MidCaps, or Large Enterprises: up to 10 years
- Bank Guarantees Line:
- Up to 10 years
- Technical Guarantees Line:
- Up to 10 years
- Working Capital Line:
- Grace Period
- Working Capital Line:
- Up to 18 months
- Investment Line:
- Up to 48 months
- Working Capital Line:
- Cumulative Operations
- Beneficiaries may submit more than one operation, either through the same institution/SGM or through several credit institutions.
- The total of all operations may not exceed the maximum amount defined per beneficiary.
- Maximum Mutual Guarantee
- Up to 80%
- Counter-Guarantee Fund Share
- 100%
- Credit Collateral
- Autonomous first-demand guarantee issued by the SGM
- Other guarantees may be requested in addition to the SGM guarantee.
- Mutual Guarantee Commission
- Guarantee commission up to 2%, payable monthly, quarterly, semi-annually, or annually in advance
- Micro and SMEs: up to 2%
- If no plafond is available under the EU de minimis aid scheme, the client may bear a rate higher than 2%, up to the market terms commission limit
- Of the amounts charged by the SGM to the client for the guarantee commission, 80% must be delivered by SGMs to the FCGM as a counter-guarantee commission
- Spread
- Interest paid in arrears, according to amortization schedule
- Fixed or variable interest rate, with the following maximums:
- Loans up to 1-year maturity: up to 1.25%
- Loans with 1–2 years maturity: up to 1.50%
- Loans with 3–6 years maturity: up to 1.85%
- Loans with 6–10 years maturity: up to 2.50%
- Loans with over 10 years maturity: up to 3%
Objectives and characteristics
Micro-enterprises
SMEs
Small MidCaps
MidCaps
Large Enterprises
Beneficiaries Obligations
Located in national territory
IAPMEI certification for Micro and SMEs
Main activity carried out under the following CAE codes: 49392, 551, 55201, 55204, 55300, 561, 563, 771, 79, 82300, 93110, 93192, 93210, 93292, 93293, 93294
Fulfill the legal conditions required for carrying out their activity
Have organized accounting and a balanced economic and financial situation
Have a regularized situation with the Tax Authority (AT), Turismo de Portugal, the Financial System, and Social Security (SS) at the date of contracting the financing
Fulfill the obligation to register with RCBE and all related legal obligations.
Beneficiaries Obligations
The beneficiary must not be subject to insolvency proceedings nor meet the criteria, under the law, to be placed under insolvency proceedings
Have one year of positive equity as of the 2019 financial year. Companies unable to prove this condition in closed accounts may still access the line if this situation is regularized in an interim balance sheet by the date of their application
Must not fall under the following categories:
a) Entities headquartered or effectively managed in countries, territories, or regions with clearly more favorable tax regimes
b) Companies controlled, under article 486 of the CSC, by entities (including fiduciary structures of any kind) headquartered or effectively managed in such territories, or whose ultimate beneficial owner resides there
Note: In the case of companies with main activity under CAE 49392, a statement from the respective ROC/CC is required, confirming that at least 50% of the company’s 2019 turnover was related to tourist transport..
How to Apply
The company must contact a participating credit institution or Mutual Guarantee Society (SGM) and submit the financing/application request to the Line.
Eligible Operations
Specific Working Capital Line:
Operations intended exclusively to finance treasury needs
Specific Investment Line:
Operations intended to finance investment in tangible and intangible fixed assets that contribute to the development of the company’s activity.
Specific Bank Guarantees Line:
Bank guarantees issued in favor of third-party entities, domestic or foreign, to ensure the proper execution of investments or events, or compliance with payment obligations.
Specific Technical Guarantees Line:
Financial guarantees and performance guarantees issued in favor of third-party entities, domestic or foreign, to ensure the proper execution of investments or events, or compliance with payment obligations.
Maximum Financing Amount
Working Capital Line:
Micro-enterprises: up to €250,000.00
Small Enterprises: up to €750,000.00
Medium Enterprises, Small MidCaps, MidCaps, and Large Enterprises: up to €1,500,000.00
Investment Line:
Up to €4,500,000.00
Bank Guarantees Line:
Maximum guarantee per operation of €5,000,000.00
Technical Guarantees Line:
Maximum guarantee per operation of €5,000,000.00
Overall Financing Term
Working Capital Line:
Up to 6 years
Investment Line:
Micro or SMEs: up to 20 years
Small MidCaps, MidCaps, or Large Enterprises: up to 10 years
Bank Guarantees Line:
Up to 10 years
Technical Guarantees Line:
Up to 10 years
Grace Period
Working Capital Line:
Up to 18 months
Investment Line:
Up to 48 months
Cumulative Operations
Beneficiaries may submit more than one operation, either through the same institution/SGM or through several credit institutions.
The total of all operations may not exceed the maximum amount defined per beneficiary.
Maximum Mutual Guarantee
Up to 80%
Counter-Guarantee Fund Share
100%
Credit Collateral
Autonomous first-demand guarantee issued by the SGM
Other guarantees may be requested in addition to the SGM guarantee.
Mutual Guarantee Commission
Guarantee commission up to 2%, payable monthly, quarterly, semi-annually, or annually in advance
Micro and SMEs: up to 2%
If no plafond is available under the EU de minimis aid scheme, the client may bear a rate higher than 2%, up to the market terms commission limit
Of the amounts charged by the SGM to the client for the guarantee commission, 80% must be delivered by SGMs to the FCGM as a counter-guarantee commission
Spread
Interest paid in arrears, according to amortization schedule
Fixed or variable interest rate, with the following maximums:
Loans up to 1-year maturity: up to 1.25%
Loans with 1–2 years maturity: up to 1.50%
Loans with 3–6 years maturity: up to 1.85%
Loans with 6–10 years maturity: up to 2.50%
Loans with over 10 years maturity: up to 3%
