Business Financing | ‘Impulsar Portugal’ Guarantee Lines
A sum of up to 1,500,000,000 EUR is available to be distributed across four specific facilities.
Business Financing | ‘Impulsar Portugal’ Guarantee Lines
The Business Financing 'Impulsar Portugal' offers financing solutions for a variety of business needs, ranging from working capital to strategic investment and the creation of new businesses. It also includes a solution for issuing performance bonds.
Areas of Activity
Short Term
up to 7,500,000 EUR
Intended to finance short-term cash flow requirements and is renewable primarily, but not exclusively, via current account facilities, promissory notes, commercial paper, foreign bill discounting, factoring, and confirming.
Strategic Investment
up to 25,000,000 EUR
Intended to finance companies’ strategic investments, specifically the acquisition of shareholdings as part of business succession processes or scaling up, as well as equipment or property leases.
New businesses
up to 1,000,000 EUR
Intended to finance investments and working capital for start-ups.
Technical Guarantees
up to 2,500,000 EUR
These are provided either directly to the final beneficiary or as a counter-guarantee for an existing guarantee.
Until 31 December 2028, the opening and closing dates of the facility and its sub-facilities will be communicated by BPF. In accordance with the terms set out in the General Conditions, BPF may announce the termination of the Mutual Guarantee Line.
Short-term
Eligible operations
Short-term financing, whether renewable or not, including but not limited to current account facilities, promissory note financing, commercial paper, foreign bill discounting, factoring and confirming.
Eligible companies
Companies that meet the conditions set out in the General Conditions applicable to the Mutual Guarantee Facilities under the Agreement.
Maximum amount per company
7,500,000 EUR.
Total financing term
Up to 60 months.
For more information, please refer to the disclosure document.
Grace period
Not applicable.
Amortisation
Agreed between the IC and the Company in accordance with the Company’s needs.
For more information, please refer to the disclosure document.
Loan agreement spread
The maximum spread will be calculated in accordance with the risk rating of each credit institution and the maturity of the transaction.
Maximum guarantee fee
The guarantee fee will be charged on the guaranteed amount and calculated according to the company's rating, the type of company and the maturity of the transaction.
For more information, please refer to the disclosure document.
% Mutual guarantee / % counter guarantee
50% / 60%.
Strategic investment
Eligible operations
Medium- to long-term financing intended for the following:
(i) the acquisition of shareholdings in the context of business succession processes, expansion, or Management Buyout (MBO) and Management Buyin (MBI) transactions;
(ii) movable and immovable property leases, including the sharing of the leased asset; or
(iii) financing the investment operations of viable companies intending to acquire companies in financial difficulty or undergoing insolvency proceedings.
For more information, please refer to the disclosure document.
Eligible companies
Companies that meet the conditions set out in the General Conditions applicable to the Mutual Guarantee Facilities under the Agreement, and that cumulatively meet the following conditions in the specific case of transactions for the acquisition of shareholdings in the context of business succession, expansion, or MBO and MBI transactions.
For more information, please refer to the disclosure document.
Maximum amount per company
25,000,000 EUR.
Total Financing Term
The loan can be repaid over a period of up to 144 months from the date it is taken out.
Grace period
Up to 36 months from the date the loan is taken out.
Loan agreement spread
The maximum spread will be calculated in accordance with the risk rating of each credit institution and the maturity of the transaction.
Maximum guarantee commission
The guarantee fee will be charged on the guaranteed amount and calculated according to the company's rating, the type of company and the maturity of the transaction.
For more information, please refer to the disclosure document.
Amortisation
As agreed between the IC and the Company in accordance with the Company’s needs.
For more information, please refer to the disclosure document.
% mutual guarantee / % counter guarantee
70% / 70%.
New business
Eligible operations
Medium- and long-term financing for investment in tangible and intangible fixed assets, covering equipment and property leases, including profit-sharing arrangements for leased assets, or working capital for newly incorporated companies.
Eligible companies
Companies that meet the conditions set out in the General Conditions applicable to the Mutual Guarantee Facilities under the Agreement and, cumulatively, certain other conditions.
For more information, please refer to the disclosure document.
Maximum amount per company
1,000,000 EUR.
Total financing term
Up to 120 months from the date the loan is taken out.
Grace period
Up to 24 months from the date the loan is taken out.
Amortisation
As agreed between the IC and the Company in accordance with the Company’s needs.
For more information, please refer to the disclosure document.
Loan agreement spread
The maximum spread will be calculated in accordance with the risk rating of each credit institution and the maturity of the transaction.
Maximum guarantee commission
the company's rating, the type of company and the maturity of the transaction.
The guarantee fee is payable in arrears, in accordance with the repayment schedule.
% mutual guarantee / % counter guarantee
80%/80%.
Technical guarantees
Eligible transactions
Performance, tender, compliance or payment guarantees, amongst others, whether renewable or non-renewable, provided directly to the final beneficiary or as a counter-guarantee for an existing guarantee.
The SGM may formalise transactions with clients either by issuing individual stand-alone guarantees for each specific case, or by concluding a guarantee facility agreement for the issuance of several guarantees under the same agreement.
Eligible companies
Companies that meet the conditions set out in the General Conditions applicable to the Mutual Guarantee Facilities under the Agreement and, cumulatively, certain other conditions.
For more information, please refer to the disclosure document.
Maximum amount per company
2,500,000 EUR. However, in the specific case of performance guarantees, the maximum guarantee amount per company is 1,000,000 EUR.
Term of the guarantee
In the case of renewable transactions, on a half-yearly or annual basis, up to a maximum term of 120 months. The Bank may terminate the agreement, and the SGM may terminate the guarantee at each renewal.
Grace period
Not applicable.
Bank guarantee fee, taking into account the company’s risk profile
With regard to bank guarantees provided by banks to third parties, banks may charge a guarantee fee. This fee is calculated according to the company's rating, the type of company and the maturity of the transaction.
For more information, please refer to the disclosure document.
Maximum guarantee percentage granted by the SG
Up to 75% for guarantees provided to ICs.
Up to 100% for guarantees provided directly to the final beneficiary.
% mutual guarantee / % counter guarantee
75% or 100%/50%.
Maximum guarantee fee
The guarantee fee will be charged on the guaranteed amount and calculated according to the company’s rating, the type of company, and the maturity of the transaction.
For more information, please refer to the disclosure document.
Financial characteristics: illustrative example
Fees and charges:
- The IC may charge the beneficiary the fees and charges set out in its price list, subject to the usual adjustments;
- The company bears all costs and charges associated with arranging the financing, including those relating to property valuations, registrations, deeds, taxes or duties, and other similar expenses;
- No fees are charged for custody of securities if the account is used solely for holding shares in SGMs;
- In the case of fixed-rate loans, the IC may pass on to the company any costs incurred in connection with a full or partial early repayment, or a change from a fixed to a variable rate, as requested by the company;
- SGMs will not charge clients any fees for issuing guarantees, except for the relevant guarantee fee and, where applicable, the following processing fees:
- For the ‘Impulsar – Strategic Investment’ facility, an arrangement fee of up to 0.5% of the guaranteed amount is payable, with a minimum fee of €200, plus stamp duty at the statutory rate;
- For renewable transactions, a renewal fee of up to 0.25% per annum of the guaranteed amount is payable, with a minimum fee of €100, plus stamp duty at the statutory rate in force.
Granting a mutual guarantee is conditional upon acquiring an SGM’s shares amounting to up to 1% of the guaranteed value.
Interest:
According to the repayment schedule of the transaction, the beneficiary will pay all interest in full and in arrears.
If the index or reference rate is found to be less than zero, it will be treated as zero when determining the applicable rate.
