Businesses can benefit from a maximum loan of €1 million to implement projects that contribute to the post-pandemic recovery, under a Soft Loan scheme announced on Thursday.
The scheme was announced by Minister for Energy, Enterprise and Sustainable Development Miriam Dalli and Malta Enterprise CEO Kurt Farrugia.
Dalli said that the government has been providing assistance throughout the pandemic but is now focusing to incentivize these businesses to be economically stronger than before.
With the Soft Loan scheme, businesses can benefit from a maximum loan of €1million to implement projects on a period of no longer than 18 months. Applicants can implement these projects through a loan, where Malta Enterprise will be covering up to 75% of the expenses. The other part of the investment can be covered through a loan from a commercial bank or company finances.
She said Malta Enterprise will be assisting these businesses to invest in new products, take part in international labour markets, improve their digital performance, reduce waste and make better use of water and other projects that reach a high level of sustainability.
Dalli remarked that projects focusing on the environmental challenges can also be a commercial opportunity.
“The Government’s vision is to see more digital, sustainable and competitive businesses in Malta. We are constantly incentivizing businesses to diversify their operations and compete in different labour markets. With this scheme, businesses are given the opportunity to enhance their operations and their employees,” the minister said.
Kurt Farrugia explained how this loan can attract more investment which cannot be financed through bank loans. “This loan is classified as a soft loan as the terms and rates are more flexible according to the project.”
The guidelines and applications of this scheme can be found on www.maltaenterprise.com
For more information, enterprises are being encouraged to contact their Relationships Mangers within Malta Enterprise or contact Business First on 144.