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New instrument from Banco Português de Fomento facilitates companies' access to financing up to €25 million.
Banco Português de Fomento (BPF) has launched the Impulsar Portugal Line, with a global allocation of €1,500 million, to facilitate companies' access to bank financing through a mutual guarantee mechanism.
With financing that can reach up to €25 million per company, the new line aims to respond to different business needs.
The Impulsar Portugal Line will be in force until 31 December 2028 and encompasses four strategic pillars, with different investment purposes.
The Impulsar Portugal Line operates through a mutual guarantee system. In practice, a Mutual Guarantee Society (SGM) guarantees part of the financing granted by a banking institution to the company, and this guarantee is, in turn, counter-guaranteed by the Mutual Counter-Guarantee Fund (FCGM), managed by BPF. Therefore, it is not a direct loan from BPF to companies.
The objective is to facilitate companies' access to financing and support different stages and needs of their activity, through four intervention areas: treasury and working capital, strategic investment, new businesses, and technical guarantees.
The line is aimed at Sole Traders with organised accounting, Micro, Small and Medium Enterprises (SMEs), Small Mid Caps, and Mid Caps, provided they meet the general and specific conditions applicable to each sub-line.
The Impulsar Portugal Line was structured to respond to different financing needs, allowing companies to frame the operation according to their objective.
The Short Term pillar is intended for financing treasury and working capital needs, including operations such as current accounts, promissory notes, commercial paper, foreign discounts, factoring, and confirming.
The financing can reach up to €7.5 million per company, with mutual guarantee coverage of up to 50%, and a maximum term of 60 months.
The Strategic Investment pillar aims to finance medium and long-term operations related to the acquisition of companies or equity stakes, business succession, scaling up, and leasing, including situations of acquiring companies in financial difficulty or insolvency.
In this case, the financing can reach €25 million, with a guarantee of up to 70% and a maximum term of 144 months. A grace period of up to 36 months is also provided.
In operations acquiring equity stakes, the operation must result in obtaining control of more than 50% of the share capital and a majority of voting rights.
This aspect allows supporting investment in tangible and intangible fixed assets, including leasing, as well as working capital needs, for recently incorporated companies.
It is intended for micro-enterprises with four or fewer years of existence and a minimum of 15% equity. The financing can reach €1 million, with a guarantee of up to 80% and a maximum term of 120 months.
For these operations, a grace period of up to 24 months is provided, allowing for a better adaptation of financing conditions to the initial phase of the business.
The fourth mechanism, Technical Guarantees, is intended for issuing performance, tender, compliance, or payment guarantees, which can be provided directly to the final beneficiary or as a counter-guarantee for a provided guarantee.
The maximum amount per company is €2.5 million, and the guarantee coverage can reach 100% when provided directly to the final beneficiary, or up to 75% when provided in favour of credit institutions. The maximum term is 120 months.
* Up to 100% when the guarantee is provided directly to the final beneficiary and up to 75% when in favour of credit institutions.
Sole Traders with organised accounting, Micro, Small and Medium Enterprises (SMEs), Small Mid Caps, and Mid Caps can benefit, provided they meet the general eligibility requirements and the specific conditions of the pillar they are applying for.
General conditions include operating in national territory, having a regularised situation with the Tax Authority and Social Security, being in good standing with the financial system, and having no unresolved incidents with banks or the Mutual Guarantee System, among others.
There are also specific requirements depending on the operation. For Strategic Investment, for example, a minimum financial autonomy of 20% in the latest approved accounts is required. For New Businesses, companies must have four years or less of existence and a minimum of 15% equity.
For newly established entities or investment operations with financing equal to or greater than €500 thousand, it is also necessary to present a viability plan or investment project.
The Impulsar Portugal Line will be available until 31 December 2028, with requests submitted through the Banking Portal (Portal da Banca), on a first come, first served basis.
Companies can initiate the request with a participating Credit Institution or directly through a Mutual Guarantee Society (SGM), after which the operation is analysed according to the conditions applicable to the company and the chosen sub-line.
In turn, the operation of the SGMs is divided by district: Norgarante (North), Garval (Centre and Azores), Lisgarante (South, Lisbon, and Madeira). Requests from companies with NACE codes related to agriculture, forestry, fishing, and related industries fall under the competence of Agrogarante.
The preparation of the operation therefore plays an important role, especially in cases where it is necessary to present a viability plan or an investment project.
The Impulsar Portugal Line opens up new possibilities for accessing financing, but the correct framing of the operation and the preparation of the necessary information are crucial for presenting a solid project.
Yunit Consulting is positioned to support companies in analysing the framework of the operation, identifying the most appropriate pillar, and preparing the necessary documentation, namely drawing up the business plan and submitting the application to a participating Credit Institution or the responsible Mutual Guarantee Society.
If you are preparing an investment, want to strengthen your company's treasury, or are structuring a new business, speak with the Yunit team to assess how your operation fits into the Impulsar Portugal Line.
Yunit Consulting's specialised team supports your organisation in structuring and submitting your project to ensure the best financing conditions.
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