Background information

The Credit Line Capitalizar 2018 – Covid-19 aims to support the Portuguese businesses affected by the economic effects of the pandemic Covid-19. This credit line was launched by the Portuguese Government and is managed by PME Investimentos. It provides for funding, with better price and term conditions, of the businesses needs in terms of operating fund and treasury, for instance the payment of wages or the acquisition of products and raw materials.

Content of measure

The Credit Line Capitalizar 2018 – COVID-19 provides for funding, with better price and term conditions, of the businesses needs in terms of operating fund and treasury.

The total amount of the credit line is €400 million (initially this amount was €200 million). The maximum support per business is €3 million.

• This line is preferentially addressed to SMEs. Large companies operating in most sectors and one person enterprises may also be eligible.
• Bond: up to 80% of the capital outstanding.
• Financial guarantee: 100%.
• Interest rate: fixed or variable rate of interest increased by a spread, according to maximum limits.
• Maturity of the operation: four years for the operating fund; and between one and three years for treasury.

Use of measure

The end date for the measure was set to 31 May 2020. However, on 6 April 2020 PME Investimentos informed that further applications to this credit line were no longer possible, since the total amount of support was already exhausted. The credit line is thus closed since 7 April 2020.  

The employers organisations have been claiming that the total amount of this credit line is (was) too low.

Target groups

Workers	Businesses	Citizens
Does not apply to workers	SMEs One person or microenterprises Larger corporations	Does not apply to citizens

Actors and funding

Actors	Funding
National government Company / Companies	National funds

Social partners

Social partners' role in designing the measure and form of involvement:

	Trade unions	Employers' organisations
Role	No involvement	No involvement
Form	Not applicable	Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

• Unknown
• Main level of involvement: Unknown

Involvement

N/A

Views and reactions

The employers organisations have been claiming that the total amount of this credit line is too low.

Sources

• 12 March 2020: EstamosON - Informação Oficial COVID19 (covid19estamoson.gov.pt)
• 12 March 2020: Linha de Crédito COVID-19 (www.spgm.pt)