Joint-financing with banks of upgrading programmes for the benefit of Moroccan companies, to boost competitiveness in the face of foreign competition.
Eligible companies
Private companies in the industry and industrial services sector, meeting the following requirements:
To be a viable company with a minimum 3-year period of activity on the date of applying to the bank for financing.
To have a balance sheet not exceeding MD 70 million before investment, as well as an upgrading programme not exceeding MD 20 million.
To employ a minimum of 2 executives.
Eligible programmes:
The following operations can be financed by the “FOMAN”:
Investment programmes aimed at improving the competitiveness of companies. However, the purchase of equipment and/ or intangible assets must account for at least 30% of the programme.
Requirements of strategic redeployment as part of an investment plan for companies intending to reposition themselves on the market.
Financing upgrading programmes
The loan is granted jointly by the CCG on behalf of “FOMAN”, and by the relevant bank, according to the following contributions:
Stock capital and/ or self-financing: minimum 10% of cost of programme.
“FOMAN”: maximum 40%, within the limit of MD 5,000,000.
Bank loan: remainder of financing with minimum 30% of upgrading programme.
Terms of joint loans:
Duration: 5 to 12 years, including deferment of depreciation of principal of up to 3 years.
Interest rate: 2% VAT-exclusive per year for the “FOMAN” share. The bank loan rate is freely negotiable.
Securities
Pari-passu between the CCG and the bank.
Bank loan guarantee
The bank share may be secured through the CCG.
Submitting applications
Through the bank elected by the company.
Lead time for processing applications
10 working days maximum for upgrading programmes not exceeding MD 10,000,000.
20 working days maximum for programmes exceeding MD 10,000,000.
Object of Fund: