“ISTIMRAR” Guarantee Fund for Financial Restructuring
Object of fund:
Securing loans aimed at restructuring company bank debts.
Eligible companies
Private companies in the industry and industrial services sector, meeting the following requirements:
3 years of on-going activity when the application for guarantee is submitted.
To have undergone, within the last 12 months, a strategic and financial diagnosis by the “ANPME”, as part of the “FOMAN” scheme, which vouches for the viability of the company as well as the necessity to restructure its bank debts.
To have a balance sheet not exceeding MD 70 million for the last fiscal year.
To employ two executives minimum.
Not to be subject to legal bailout or receivership.
Eligible operations
Loans already granted to eligible companies to finance investment programmes and/ or running costs, the amount of which exceeds MD 500,000 without exceeding MD 10,000,000.
The fund guarantee does not apply to the following:
Bank debts relating to anticipated payment.
Loans financing pledges on public procurements.
Loans secured by a guarantee fund or trust.
Bank debts which have been the object of legal action.
Terms of consolidation loans
Duration: from 3 to 12 years, including depreciation deferment to be agreed between the company and the bank. Interest rate: fixed by the bank, but not exceeding the balanced average rate of Treasury Bonds of equal maturity within the last 6 months, increased by 125 base points.
Securities
Fund guarantee. Securities already subscribed to the bank and pertaining to eligible loans granted.
Quota of guarantee
50% of loan principal, within a limit of MD 5,000,000 per company, increased by interest for 6 months.
Commission for guarantee
O.25% VAT-exclusive per year on outstanding loan principal.
Submitting applications
Through the bank elected by the company.
Lead time to process applications for guarantee
14 calendar days from the date of submission of complete application file
Object of fund: