The purpose of the product (P1) is a faster obtaining of bank loans for young enterprises for the implementation of CLASSICAL PROJECT that facilitate a competitive market penetration, an improved market position and expansion of business and an improve the financing of working capital.

Code of product
P1/Guarantees for classical projects with interest rate subsidy for young enterprises/
Brief description of the product
The product represents:

  •  Guarantees for bank loans SEF issues partial insurance in form of a guarantee for bank loans for investments that are obtained by young enterprises from participating commercial banks.
  • Interest rate subsidy Each credit, that is secured by SEF’s guarantee, is also entitled to lower interest rates, because the SEF also subsidizes the interest rate.
The purpose of the product
The purpose of the product is faster, easier and cheaper obtaining of bank loans for young enterprises for the implementation of projects, that provide a competitive market penetration, an improved market position and expansion of business and an improve the financing of working capital.

The product is intended for young enterprises:

  •  that are younger than 5 years,
  •  have a classic (technologically unsophisticated) project,
  •  increase the value added per employee,
  •  create new jobs,
  •  who lack sufficient collateral for securing the credit.
Final recipients

  • micro, small and medium-sized businesses that are younger than 5 years
Benefits for the final recipients
The loan secured by SEF’s guarantee is favourable to SMEs due to:

  • lower requirements for the insurance of a credit requested by the banks due to the obtained guarantee of the SEF,
  • lower interest rates,
  • longer credit maturities,
  • possibilities of a grace period for the repayment of loans.
Intermediaries between the Fund and the final recipients

  •  the intermediaries are banks which grant loans to the enterprise
  •  the list of participating commercial banks is defined in the public tender.
Conditions for the selection of intermediaries
SEF invites all banks operating in Slovenia with an official invitation to participate in the issuing of the guarantees. The banks that expressed interest to participate and agree to the conditions of mutual cooperation, conclude an agreement on mutual cooperation on the implementation of the product with the SEF.
Eligible costs

  • costs of tangible investments,
  • costs of intangible investment,
  • costs of financing working capital.
Basic characteristics of guarantees

  • Guarantee rate: from 60% to 80% of the loan principal without interest
  • Loan amount: up to 1.2 million EUR
  • Maturity: 10 years
  • Loan cost: the interest rate is 6-month EURIBOR + 0.95% (the premium is explicitly defined in the public tender). The costs of the loan are determined in accordance with the tariff of the bank.
  • Cost of the guarantee: the fee for granting and management of the guarantee is defined in the public tender.
Acquisition procedure
The enterprise visits the bank, which cooperates with the SEF, and applies for a loan with the explanation, that for the credit insurance SEF’s guarantee will be used. On the basis of a conditional positive written decision of the Bank the enterprise can apply to the public tender from the SEF. In case of a positive assessment the SEF approves the guarantee for securing the loan and a lower interest rate, which is paid by the enterprise for utilisation of loan.
Evaluation criteria
All formally completed applications, which meet the conditions for applying and comply with the purpose of the public tender, are evaluated by a commission for the allocation of funds on the basis of qualitative and / or quantitative assessment. Based on this assessment the application receives a positive or negative opinion. The commission for the allocation of funds submits a proposal to the management board of the SEF for all valid and relevant legal formal applications with the acquired positive as well as negative opinion. The Management of the SEF takes a final decision with a written decision to grant or a written decision to not grant the application. Precise criteria with a scoreboard are an integral part of the tender documentation.
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