The state guarantee will cover maximum 50% of financing, excluding interests and other banking fees, and SMEs may take such loans for working capital for maximum two years, according to a draft emergency decree published by the Finance Ministry.
“The guarantee program for small and medium-sized enterprises is a multiannual program aimed at encouraging the development of SMEs, available for three years from the coming into force of its application norms,” the bill states.
The program is not open to SMEs operating in financial brokerage, insurance, real estate transactions, gambling, rental or leasing, production or trade of weapons, ammunition, explosives, tobacco, alcohol, controlled substances, or investigation and protection services.
The program targets SMEs whose business is sustainable and whose activity has a multiplying effect in the real economy, the bill also states.