BOV JAIME (Joint Assistance Initiative for Maltese Enterprises) Financing Package builds on the success stories of the BOV JEREMIE financing package.

This financing package is designed to truly assist you as an SME to obtain financing, up to a maximum of Euros 500,000* to bring your projects to fruition. At Bank of Valletta, we are aware that the SME sector is a critical one for the Maltese economy. We are also conscious of the challenges SMEs face like lack of available guarantees and  undercapitalisation  most of which are related to being small.

The BOV JAIME Financing Package addresses specifically this challenge by providing SMEs financing for capital investment and related working capital at  advantageous interest rates and reduced collateral obligations. Our BOV JAIME Financing Package supports your business to grow in various ways, including:

Whilst all the facilities under the BOV JAIME Financing Package are subject to normal bank lending criteria, Bank of Valletta transfers the benefit of the EU guarantee in the form of: 

Interest Rate Reduction:
An interest rate reduction of more than 2% will be applicable on BOV JAIME facilities  when compared to normal market rates relating to such type of lending. This results in a final interest rate of 3.5% (i.e. 1.35% margin over the Bank's Base Rate (BBR) which currently stands at 2.15%). 

Reduced collateral obligations:
An average reduction of 75% in extendible security obligations on the BOV JAIME portfolio.  Under normal business lending the Bank seeks to fully secure its loans through extendible collateral. Under the BOV JAIME financing package, the Bank will seek to secure only 25% of the total portfolio amount.  At transaction level, the percentage amount of extendible security can increase or decrease in line with the risk profile of the proposal.    

The Bank Base Rate is the basis, established by the Bank from time to time, on which the rate of interest payable generally on all Bank lending is determined. In order to verify the present BBR you may either access the BBR page on our website or contact our customer care on 21312020 or approach your local branch.

The BOV JAIME Financing Scheme is available to all SMEs established and operating in Malta excluding agriculture & fisheries, gaming and pure real estate development sectors.   

The definition of an SME is  that defined by EU Commission Recommendation 2003/361/EC, i.e. an enterprise which employs less than 250 persons (in full time equivalents) and whose annual turnover does not exceed EUR 50 million or whose annual balance sheet total does not exceed EUR 43 million. Follow this link for more information  

Key features of BOV JAIME

Maximum Amount: Up to €500,000*
Minimum Amount: No minimum amount except for customers eligible for the BOV Start Plus (up to €25,000).
Purpose: To support capital investment and related working capital.
Eligible Sectors: All SMEs established and operating in Malta excluding agriculture and fisheries, gaming and pure real estate development sectors.
Contribution: Minimum 20% of total investment.
Maximum loan term: 10 years
Minimum loan term: 2 years
Repayments: Monthly reducing profile.  A moratorium of up to 6 months may be considered.
Charges: The processing fee of 0.3% is being waived and only the renewal fee of 0.1% would be applicable.
State Aid: The Gross Grant Equivalent (GGE) of the loan will be calculated in line with de minims Commission Regulation (EU) No 1407/2013 and is calculated on the term of the loan and the financial benefit being passed on to the SME.
Horizon 2020 Volume: Euros 2 million (3.4%)  In the case of Horizon 2020 loans the maximum loan amount can go up to Euros 1 million.

Target Sectors include, amongst others:

• Tourism and related activities including accommodation and restaurants;
• Manufacturing including the development of new products and services;
• Wholesale and retail services and associated logistics and storage operations;
• The creative sector including the arts, entertainment and recreational facilities;
• Research & Development & Innovation (R&D&I) activities;