The BOV Micro Financing Package, which has just been launched and is supported by the Parliamentary Secretariat for Small Business and the Self-employed, includes a full range of financing options specifically tailor-made to support micro enterprises at various business stages.

It includes BOV Smart Start, designed to support business start ups; BOV Asset Financing, designed to finance investment in assets that are essential for business success; BOV Business Prosper, providing a simple and cost-effective way to meet day to day working capital requirements; and Specific Sector Financing, which offers financing packages for specialised sectors including women entrepreneurs, members of the FOI and graduates.

The launch of the BOV Micro Financing Package is the latest initiative by Bank of Valletta to assist the economic development of the Maltese Islands by focusing on small and medium sized business. It follows the Business Strategic Alliance entered into by Bank of Valletta and Malta Enterprise in January 2006 through which BOV became the official sponsor of the Innovation Projects of Malta Enterprise. Following last month’s agreement with Malta Enterprise, BOV is now able to support small and medium sized enterprises through the Malta Enterprise loan guarantee schemes, namely the Loan Guarantee Scheme for New Entrepreneurs and the SME Loan Guarantee Scheme.