Bank Related Matters
New Loans – Covid-19 Guarantee Scheme (CGS)
The government allotted a fund amounting to €350 million for the bank guarantees. This Scheme will facilitate commercial banks to fund up to €777.8 million worth of loans to Maltese businesses. The Malta Development Bank will administer the CGS to aid companies facing cash flow disruptions.
Eligible working capital costs include:
- Rental Costs
- Water and Electricity bills
- Trade Creditors
- Acquisition of Material or Stock
- Direct expenses of contracts which were cancelled or postponed
Small and medium sized business can benefit from a loan up to €2-€4 million while large business can benefit from a loan up to €5-€8 million. These loans come at lower interest rates with a repayment period of up to 6 years and a 6-12 months moratorium on both interest rates and loan repayments.
How can we assist you?
- Evaluate the current financial position
- Prepare the financial projections required by the Banks
- Guidance and support during the course of the application
- Possibility to apply for a three-month moratorium from banks for business or personal loans
We can assist you in applying for new loans or for moratorium on your existing loans.