Fimbank

Supporting Business Continuity with Scale and Speed

FIMBank is committed to assist its Malta based corporate customers during these unprecedented times. In order to assist its clients with its cashflow needs, FIMBank has been accredited by the Malta Development Bank (MDB) for the COVID-19 Guarantee Scheme. The working capital loans are applicable for Malta based businesses and will be provided with subsidised interest rates and can cover a number of costs which include:

Salary of employees, including social and health security payments
Lease of establishment, including rental costs, energy and water bills, fuel etc.
Unpaid invoices due to a decrease in business revenues in respect of working capital and other similar commitments and in respect of investment expenditures provided that investment expenditures only qualify under the Scheme if they were contracted for prior to the approval of this Scheme by the Commission and are not covered by existing bank loan facilities.
Acquisition of material and stock for continuation of business
Expenses directly related to contracts which were cancelled or postponed because of the present situation
Maintenance costs

Different types of Malta based businesses may apply for FIMBank's COVID-19 Rapid Response Loans. The rate of the loan depends on the size of the business and duration. For the first two years, these will not exceed 3.5% (+3 month Libor) and for the following years shall not exceed 4% (+3 month Libor). The tenors for these loans start at eighteen months and are accompanied with a simple fee structure, with a processing/amendment fee of EUR 500 and a fee of EUR 50 for each loan disbursement.

The Bank is also offering moratoria to clients which are evaluated on a case by case basis. Moratoria can be set for six months on both capital and interest repayments, possibly extended for up to one year. The Bank also commits to pass on to its clients any additional aid provided by Government such as interest subsidy, once this becomes available.

With conformity to the terms and conditions set out by the Malta Development Bank, each request will be tended to on a case by case basis. Kindly contact your Relationship Manager for further information.

Further information related to the scheme may be accessed via the below:

MDB COVID-19 Guarantee Scheme (CGS)

Central Bank of Malta - Directive No. 18