BPF Reconstruction Support Line
-
BPF Reconstruction Support Line - Treasury
-
BPF Reconstruction Support Line - Investment
Reconstruction Support Line - Treasury
-
General conditions of the line
Purpose
The Reconstruction Support Line - Treasury is intended to support the immediate liquidity and treasury needs arising from damage caused by storms and weather phenomena in municipalities where a state of emergency or calamity has been declared, from January 2026 onwards, namely for replenishing treasury funds, working capital and covering current needs essential to the continuity of activity.
Recipients
Loans eligible for guarantees may include companies where the borrowers meet the following conditions:
i. Legal entities or public bodies of a local nature affected by storms and weather phenomena, located in municipalities where a state of emergency or calamity has been declared, from January 2026 onwards, that declare, under oath, in accordance with the declaration contained in Annex I, that they have suffered damage caused by storms and weather phenomena,
ii. Subscribe to the commitment declaration (Annex I);
iii. In the case of SMEs, have SME status certified by an Electronic Declaration from IAPMEI;
iv. In the case of Small Mid Caps, Mid Caps and Large Companies, the beneficiary must, at least, be in a situation comparable to situation B-, in terms of the Credit Institution's credit assessment. A B- rating refers to the internal risk rating assigned by the Credit Institution, which is equivalent to the B- rating established by the international rating agency Standard & Poor's.
v. Comply with the regulations concerning the Money Laundering and Terrorist Financing (ML/TF) regime in Portugal.
vi. Comply with the obligation to register with the Central Register of Beneficial Owners and all legal obligations arising therefrom;
vii. Not engage in Excluded Activities;
viii. Not have any outstanding incidents with banks, the Mutual Guarantee System, the BPF (Banco Português de Investimento) and the funds managed by them;
ix. Regularized situation with the Tax Administration and Social Security;
For more detailed information, please consult the table below or speak to your BBVA Adviser.
|
Total Line Amount
|
500 million euros
|
|
Maximum amount per company
|
Micro Enterprises: up to 100,000 euros Small business: up to 500,000 euros Midsize companies: up to 1,500,000 euros Large Companies and Other Entities: up to 2,500,000 euros The amount that can be granted will be subject to the availability of state aid ceiling limits. |
|
Financing Validity Period
|
Until June 30, 2026. The deadline may be extended for equal or different periods, as announced by the Portuguese Development Bank (BPF), if it does not expire within the first deadline. |
|
Types of operations
|
Credit operations intended exclusively for financing cash flow requirements or working capital loans.
|
|
Autonomous Guarantee
|
Credit operations carried out under this Line of Credit benefit from an independent guarantee payable on first demand provided by FCGM, represented by BPF as the managing entity. The guarantee provided by FCGM should ensure that banks receive 70% of the capital of each loan guaranteed by Small Mid Caps, Mid Caps and Large Companies, and 80% for other entities, with a total limit on the activation of the guarantee, i.e., a maximum default coverage rate (cap rate), of 20% of the total amount of disbursements verified at any given time. The guarantee will only be granted if, through consultation with the Bank of Portugal, a positive net change in the credit granted to the recipient is verified, for an amount at least equal to the value of the credit contracted under this measure. |
|
Mutual term
|
Up to 5 years after applying for the operation
|
|
Usage term
|
Up to 12 months
|
|
Capital and interest shortfall
|
Up to 12 months
|
|
Amortization (or Repayment)
|
Constant, equal installments, with monthly, quarterly, semi-annual or annual periodicity, or repayment at the end of the maturity period, in the case of current account transactions.
|
|
Interest rate
|
The interest rate will be borne by the beneficiary and will be settled in arrears, according to the amortization schedule of the loan, or paid at the end of the loan agreement. If the index or reference rate used is found to be less than zero, the applicable rate should be considered to be zero. The maximum spread is 0.5%. |
|
Maximum guarantee commission
|
The guarantee commission will be waived by the State, considering that all the risk assumed by the FCGM will be fully covered by it.
|
|
Other fees and charges
|
i. Transactions under this Line of Credit will be exempt from commissions and fees usually charged by the Bank. ii. All costs and charges associated with obtaining financing, namely those associated with property valuation, registrations and deeds, taxes or fees, and other similar expenses shall be borne by the Company. iv. In the case of fixed-rate financing, IC may pass on to the Company the costs incurred in the event of total or partial early settlement, or when the Company requests a change from a fixed rate to a variable rate. |
|
State Aid Scheme
|
De minimis regime, General Block Exemption Regulation (RGIC)
|
|
Credit Collateral
|
The Bank may require other guarantees, either as part of its analysis and decision-making process or during the term of the operation, to ensure the proper fulfillment of the responsibilities that arise for the Beneficiaries from the legal relationship underlying the provision of the independent guarantee.
|
Reconstruction Support Line - Investment
-
General conditions of the line
Purpose
The Reconstruction Support Line is intended to support reconstruction following damage caused by storms and climatic phenomena in municipalities where a state of emergency or disaster has been declared, starting in January 2026 (inclusive).
Recipients
Loans eligible for guarantees may include companies where the borrowers meet the following conditions:
i. Legal persons or local public entities affected by storms and climatic phenomena, in municipalities where a state of emergency or disaster has been declared, as of January 2026 (inclusive), a situation to be proven by presenting a statement of the value of the damage issued by the respective Regional Coordination and Development Commission, insurance company, or bank assessment.
ii. Have signed the commitment declaration (to be defined);
iii. In the case of SMEs, have SME status certified by an Electronic Declaration from IAPMEI;
iv. In the case of Small Mid Caps, Mid Caps and Large Companies, the beneficiary must, at least, be in a situation comparable to situation B-, in terms of the Credit Institution's credit assessment. A B- rating refers to the internal risk rating assigned by the Credit Institution, which is equivalent to the B- rating established by the international rating agency Standard & Poor's.v. Comply with the regulations concerning the Money Laundering and Terrorist Financing (ML/TF) regime in Portugal;
vi. Comply with the obligation to register with the Central Register of Beneficial Owners and all legal obligations arising therefrom;
vii. Not engage in Excluded Activities;
viii. Not have any outstanding incidents with banks, the Mutual Guarantee System, the BPF (Banco Português de Investimento) and the funds managed by them;
ix. Regularized situation with the Tax Administration and Social Security;
x. Regularized with other public entities responsible for supporting businesses, namely IAPMEI, Turismo de Portugal, IP and the Institute for Financing Agriculture and Fisheries, IP. (IFAP), to be confirmed by a declaration issued by the Ultimate Beneficiary;
For more detailed information, please consult the table below or speak to your BBVA Adviser.
|
Total Line Amount
|
1 billion euros
|
|
Maximum amount per company
|
100% of the damages caused, less any payments received under insurance policies. The amount that can be granted will be subject to the availability of state aid ceiling limits. |
|
Financing Validity Period
|
Until June 30, 2026. The deadline may be extended for equal or different periods, as announced by the Portuguese Development Bank (BPF), if it does not expire within the first deadline. |
|
Types of operations
|
Loans intended to finance investment in affected facilities and equipment or biological assets, and associated working capital. The application to working capital cannot exceed 25% of the contracted financing amount.
|
|
Autonomous Guarantee
|
Credit operations carried out under this Line of Credit benefit from an independent guarantee payable on first demand provided by FCGM, represented by BPF as the managing entity. The guarantee provided by FCGM should ensure that banks receive 70% of the capital of each loan guaranteed by Small Mid Caps, Mid Caps and Large Companies, and 80% for other entities, with a total limit on the activation of the guarantee, i.e., a maximum default coverage rate (cap rate), of 20% of the total amount of disbursements verified at any given time. The guarantee will only be granted if, through consultation with the Bank of Portugal, a positive net change in the credit granted to the recipient is verified, for an amount at least equal to the value of the credit contracted under this measure. |
|
Mutual term
|
Up to 10 years after applying for the operation.
|
|
Usage term
|
Up to 12 months
|
|
Capital and interest shortfall
|
Up to 36 months
|
|
Amortization (or Repayment)
|
Constant, equal installments, paid monthly, quarterly, semi-annually, or annually, with mandatory early repayment in the amount corresponding to any compensation received from the insurer or other donations or compensation received.
|
|
Interest rate
|
The interest rate will be borne by the beneficiary and will be settled in arrears, according to the amortization schedule of the loan, or paid at the end of the loan agreement. If the index or reference rate used is found to be less than zero, the applicable rate should be considered to be zero. The maximum spread is 0.5%. |
|
Maximum guarantee commission
|
The guarantee commission will be waived by the State, considering that all the risk assumed by the FCGM will be fully covered by it.
|
|
Other fees and charges
|
i. Transactions under this Line of Credit will be exempt from commissions and fees usually charged by the Bank. ii. All costs and charges associated with obtaining financing, namely those associated with property valuation, registrations and deeds, taxes or fees, and other similar expenses shall be borne by the Company. iii. In the case of fixed-rate financing, IC may pass on to the Company the costs incurred in the event of total or partial early settlement, or when the Company requests a change from a fixed rate to a variable rate. |
|
Conversion to non-refundable value
|
A portion of the loan may be converted into a non-refundable grant, limited to 10% of the contracted and utilized financing amount. The performance indicators for assessing the right to conversion into non-refundable value are as follows and will be based on a comparison of the data recorded in the IES 2028 versus IES 2025:
BPF will access the information it needs to assess eligibility for conversion, namely:
|
|
State Aid Scheme
|
Associated with the operation: De minimis regime, General Block Exemption Regulation (RGIC) Associated with conversion: De minimis regime |