Bank of Valletta has launched a new lending product to support Maltese businesses. The new BOV Tax Arrears Loan is specifically intended to support business liquidity and, as a result, continue to promote further generation of economic activity by making credit available in a responsible manner.

“Bank of Valletta is committed to continue supporting the local business community in its financial needs and this initiative is earmarked to further assist businesses in bridging their working capital gaps and short term liquidity needs within a framework of  sound financial management and sustainability,” said Albert Frendo, Chief Officer, Credit at Bank of Valletta.

The purpose of the BOV Tax Arrears Loan is to enable businesses to pay off arrears in National Insurance contributions, Value Added Tax or Income Tax.

As the bank with the largest market share of resident lending, Bank of Valletta has retained an excellent track record by making available loan products that support the generation of economic growth. The success of the BOV Jeremie financing instrument is just one recent example of the bank’s leadership in this sector with over 550 facilities granted to SMEs in less than three years. The new BOV Tax Arrears Loan continues to build on the suite of financing options available from BOV, strengthening the bank’s position as the lender of choice in Malta.

Further information can be obtained from any BOV branch or Business Centre, the bank’s website www.bov.com or through the bank’s Customer Service Centre on 2131 2020.