S.L. 463.42 Art. 4Terms of the soft loan.

(1) Eligible undertakings may be supported through a soft loan of up to one million euro (€1,000,000) for funding projects leading to further development, expansion of activities, process optimisation, improved environmental performance and sustainability, as further outlined in the Guidelines.

(2) The loan may cover up to seventy-five percent (75%) of costs related to the proposed project including the procurement of assets, wage costs, know-how and other non-recurring costs as further defined in the Guidelines.

(3) The loan shall be secured by collateral covering at least fifty per cent (50%) of the loan amount.

(3a) The undertaking shall provide a general hypothec covering the approved loan.

(4) The value of aid of a loan shall be considered to have a gross grant equivalent at the time of granting calculated as a corresponding proportion of the relevant ceiling as de minimis established in Commission Regulation (EU) No 1407/2013 of 18 December 2013 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to aid de minimis (the Regulation), as amended. de minimis

(5) The investment value not covered by the loan issued by the Corporation shall be financed by a loan issued through a commercial bank and, or through reserves of the undertaking or other funds considered to be the undertaking’s own funds.