SID Bank and the Ministry of Economy have joined forces to establish a new loan fund worth 100 million euros, aimed at assisting Slovenian companies affected by the direct or indirect effects of the crisis caused by Russia’s aggression against Ukraine and the energy crisis. The fund at SID Bank will provide businesses with access to favorable loans for financing technological development, other investments, and working capital, which are crucial for their stability and growth.
The ORMG2 program, which will provide financial assistance to affected companies, is designed to facilitate access to debt financing, offering loans with favorable terms, collateral, moratoriums, and interest rates that are generally lower than market rates. The program is available to economic companies, cooperatives, and sole proprietors, allowing loans starting from 100,000 euros, financing up to 85% of the investment value or eligible costs, and loan terms ranging from 2 to 15 years for investments and up to 8 years for working capital.
Minister of Economy, Tourism, and Sports, Matjaž Han, emphasized the importance of cooperation between both institutions and the need to strengthen the economy and maintain competitiveness, as companies in these circumstances face high borrowing costs in the market.
More information:
- Loan Purpose:
- Working Capital
- Investments
- Combination of Investments and Working Capital
- Eligible Parties:
- Economic Companies
- Sole Proprietors
- Cooperatives
- Loan Amount:
- From 100,000€ and above;
- Loan Term:
- 2 – 8 years (for working capital)
- 2 – 15 years (for investments)
- 2 – 8 years (for a combination of investments and working capital)
- Interest Rates: Lower than market interest rates; dependent on the company’s creditworthiness and collateral.
- Moratorium: 60 months for investments, 24 months for working capital, but not exceeding ½ of the loan term!
Other Additional Condition: On the day of loan approval, the beneficiary’s main activity has suffered damage due to the direct or indirect effects of the crisis resulting from Russia’s aggression against Ukraine or the energy crisis.
