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Capitalizar Credit Line 2018

COVID-19, 200 Million euros

12th of March, 2020

The Capitalizar 2018 – COVID-19 Credit Line launched by the Government with a global allocation of 200 million euros, is intended for Portuguese companies whose activity is being affected by the economic effects resulting from the coronavirus outbreak, and in which there is a a drop in sales of at least 20% in the last 60 days prior to the submission of the request to the IC compared to the same period of the previous year.


Preferably Small and Medium Enterprises (SMEs) or other companies, located in the national territory, that meet the following requirements:

  • They carry out activities included in the 2018 Capitalizar Line CAE list;
  • No debts to FINOVA;
  • Present a positive net worth in the last approved balance sheet or certified interim balance sheet up to the operation’s framework date;
  • Absence of unsettled incidents with the Bank at the date of issuance of the contract;
  • Regularized tax and contributory status;
  • Statement explaining the negative impacts of the outbreak that justify the need to obtain funding (standard draft).

COVID-19 specific condition

Companies will have to declare that the company’s sales have decreased by at least 20% in the last 60 days prior to the presentation of the financing request at the Bank, compared to the same period of the previous year.

COVID-19 Working Capital COVID-19 Treasury Ceiling
“first come first served” allocation 160 million euros 40 million euros
Maximum amount per company 1.5 million euros 1.5 million euros
Eligible operations Intended to finance working capital needs, in the form of short and medium term bank loans Exclusively intended to finance treasury needs in a revolving regime, excluding guarantee operations
Deadline Up to a maximum of 4 years 1, 2 or 3 years, with the possibility of reducing the total or partial credit limit, without penalty
Grace period Maximum of 12 months n.a.
Period of use up to 12 months Continued use up to the contractual term and limit
Interest rate Fixed or variable plus spread Fixed or variable plus spread
Warranty and counter-warranty Guarantee provided by the Mutual Guarantee Societies (SGM) – Agrogarante, Garval, Lisgarante, Norgarante – intended to guarantee up to 80% of the outstanding capital. Benefit from a 100% FCGM counter-guarantee
Maximum Term for Decision on the Transaction by the Mutual Guarantee Operations up to €200M – 7 working days
Operations above €200M – 12 working days
Syndicated operation between the Guarantee Societies: plus 5 working days.
Period of validity Until May 31, 2020


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