Friday, 03 April 2020

Legal Alert: COVID-19 Credit Line close to become unavailable in Portugal

VolverIn view of the negative macroeconomic forecasts for the second quarter of 2020, due to the current epidemic crisis, the Portuguese Government has announced a set of new economic and financial measures, as the integration of a new COVID-19 credit line on the already existing “Capitalizar 2018” Program, to support the companies whose activity is being affected by the negative economic effects resulting from the current outbreak of COVID-19, with a global allocation of 200 million euros.

Bearing in mind the growing demand, by the interested companies, for this financial solution, the allocation was increased, last week, to a total of 400 million euros.

The aforementioned credit line has already 817 approved operations, within the registered banks, in a global amount of 365 million euros already distributed.

BELZUZ hereby alerts the interested companies of the now available plafond of only 35 million euros to support PME’s to withstand the actual epidemic crisis.

Nevertheless, the sectorial specific credit lines for tourism, travel agencies and industry (whose application can no longer be considered valid by the COVID-19 credit line) remain available.

The credit line promoted by Turismo de Portugal directed to the micro companies has already received 2.000 applications as well.

The Litigation and Arbitration Law Department of Belzuz Abogados S.L.P. – Portugal is available to assist with any application procedures or to clarify emerging queries or doubts on this matter.

Commercial and Corporate Law department | (Portugal)

 

Belzuz Abogados SLP

This publication contains general information not constitute a professional opinion or legal advice. © Belzuz SLP, all rights are reserved. Exploitation, reproduction, distribution, public communication and transformation all or part of this work, without written permission is prohibited Belzuz, SLP.

Madrid

Belzuz Abogados - Madrid office

Nuñez de Balboa 115 bis 1

  28006 Madrid

+34 91 562 50 76

+34 91 562 45 40

This email address is being protected from spambots. You need JavaScript enabled to view it.

Lisbon

Belzuz Abogados - Lisbon office

Av. Duque d´Ávila, 141 – 1º Dtº

  1050-081 Lisbon

+351 21 324 05 30

+351 21 347 84 52

This email address is being protected from spambots. You need JavaScript enabled to view it.

Oporto

Belzuz Abogados - Oporto office

Rua Julio Dinis 204, Off 314

  4050-318 Oporto

+351 22 938 94 52

+351 22 938 94 54

This email address is being protected from spambots. You need JavaScript enabled to view it.

Associations

  • 1_insuralex
  • 3_chambers_global_2022
  • 4_cle
  • 5_chp
  • 6_aeafa