Financing company creation projects by young Moroccan graduates and supporting their insertion into working life. The Government has set up “Moukawalati” to co-finance eligible projects with advance loans by the state, coupled with bank loans guaranteed by the CCG.
Eligible applicants
Young graduates meeting the following requirements:
To be a Moroccan national.
To be between 20 to 45 of age on requesting the bank loan.
to submit a viable creation or first installation project approved by the “ANAPEC”.
The project cost is between MD 50,000 to MD 5,000,000.
The number of entrepreneurs per project must not exceed 2, given that projects with a cost exceeding MD 250,000 must be submitted by 2 entrepreneurs.
Project financing:
Eligible investment projects are financed with interest-free advance loans and bank loans as follows:
Advance loan: 10% of investment project within the limit of MD 15,000 for projects not exceeding MD 250,000, and MD 30,000 for projects exceeding MD 250,000.
Bank loan: 90% maximum.
Repayment duration for advance and bank loans
Advance loans are repaid in annual instalments over a maximum of 6 years, including a deferment of up to 3 years. For bank loans, the repayment duration is 7 years minimum, including a deferment of depreciation of principal of 2 years minimum.
Securities:
Advance and bank loans are guaranteed pari-passu by the CCG and the bank through:
Guarantees relating solely to project elements.
Delegations of insurance contracts regarding these elements.
Delegation of life insurance.
The CCG also guarantees bank loans at up to 85% of loan principal and interest, with the possibility of granting the guarantee delegated to the bank.
Submitting applications:
Project applicants must submit their project file at the “Moukawalati” desk (desk list on www.moukawalati.ma) which pre-selects project files to be forwarded to the Regional Centre for Investment for the final selection.
Project files selected are forwarded to the “ANAPEC” which provides support to applicants to design a business plan.
Project applicants submit a loan application file to the bank which, in case of agreement, forwards a request to release advance funds to the CCG.
The CCG releases the advance loan within 10 working days maximum of receiving the request.
Object of Fund: