Equipment loan Société Nationale de Crédit et d'Investissement (SNCI) Equipment loans are granted for the financing of professional equipment and of land which is used exclusively for professional purposes. Beneficiaries Equipment loans are targeted at SMEs that have a business permit issued pursuant to the law regulating the access to the occupations of craftsman, tradesman, industrialist or certain liberal professions, or have an authorization under the terms of another legal provision. Eligible costs Equipment loans are granted for the financing of professional equipment, including safety or environmental protection equipment, as well as land which is used exclusively for professional purposes. Parts of buildings acquired for nonprofessional usage, motor vehicles as well as inventories are excluded from the benefit of equipment loans. Characteristics of the loan Equipment loans are offered in the form of a fixed-rate loan. Equipment loans can cover between 25% and 60% of the eligible investment cost and up to 75% in the case of start-ups. The minimum investment is €12,500, except in the case of business start-ups (first three financial years) where there is no minimum investment required. The maximum loan amount by project is €2,500,000, except by special authorisation by the Ministers of Finance and of the Economy. The duration of the equipment loan is generally 10 years. The loan is disbursed (on the basis of invoices and other relevant documentation) in maximum three instalments in proportion to payments made under the investment project. It is repaid on a quarterly basis. Investors are generally required to provide tangible and/or personal guarantees where appropriate. Submitting an application Applications for equipment loans are submitted to SNCI via the applicant's usual bank.