BBS Liqui

BBS (Bürgschaftsbank Sachsen) seeks to provide assistance to SMEs in Saxony and help these companies weather the impact of the global financial market crisis. With immediate effect, BBS will provide short-term sureties on loans for working capital and other guarantees on more favourable terms (50% reduction in administration fee).

Target group

• Successful companies that are currently experiencing difficulty as a direct or indirect result of the financial market crisis or whose very existence is threatened by the effects of the crisis.

Use of credit

• Secure financing for working capital and guarantees

Requirements

• Promising and workable company concept

Amount of surety

• Up to €1 million, or 80% of loan amount

Term of surety

• up to 8 years

Terms and conditions

• One-time administration fee:
  • €150 plus VAT payable upon application
  • Upon approval, 0.75% (special condition initially applicable until 31 December 2010) of guaranteed loan amount plus VAT minus administration fee already paid

• Annual surety commission:
  • 1.0% of guaranteed loan amount/present value of loan plus VAT

Collateral

• Where collateral available, best possible collateralisation

Application submitted

• To applicant’s principal bank
• Or directly to surety bank if loan under €625,000

Please contact us or your principal bank for information on our surety.