Medium and long-term loans Société Nationale de Crédit et d'Investissement (SNCI) Medium-term and long-term loans can be granted by Société Nationale de Crédit et d'Investissement (SNCI) to industrial enterprises and service providers. Beneficiaries The loan targets industrial enterprises and service providers with a significant impact on the national economic development and whose capital and reserves amount to at least €25,000. Eligible costs The loans are intended for the financing of professional equipment needed for the production or service-provision activities, including safety or environmental protection equipment as well as land being exclusively for professional use. The parts of buildings being used for non-professional purposes, private cars and inventories are excluded. The project for which a loan can be applied, must amount to at least €100,000. Characteristics of the loan The amount of the loan granted may not be less than €25,000 and may not exceed €10 million, unless authorised by the Ministry of the Economy and the Ministry of Finance. In general, the level of financial aid provided by SNCI varies between 25% and 30% of the cost of the eligible investment. The duration is determined depending on the nature of the investment and may not exceed 10 years. In general, the borrower may choose between a medium-term loan (5 years) and a long-term loan (6-10 years). The interest rate is the "SNCI prime rate" at the time the loan contract is signed. The loan is disbursed (on the basis of invoices and other relevant documentation) in a maximum of three instalments in proportion to payments made under the investment project. Repayments are made quarterly based on a linear amortisation. An early repayment of part or the total loan amount is possible at any time without penalty. Real or personal guarantees might be required. Submitting an application Applications must be sent to SNCI and must include a detailed and quantified description of the planned investment, the corresponding financing plan, a business plan over 3 to 5 years and the annual accounts for the past three financial years.