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  €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 guarantees to secure bank financing. 

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

• Improve the performance of your operations through capital investment and working capital;
• Invest in R&D&I which will contribute towards the launching of new products and services;
• Tap into new export markets by expanding and improving your Malta based operations;
• Interested? Then click on the next tab to discover the benefits that this Financing Package offers. 

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: 

1) Interest Rate Reduction:
An interest rate reduction of more than 2.5% will be applicable on JAIME Loans when compared to normal market rates relating to such type of lending. This results in a final interest rate of 3.0% (i.e. 0.85% margin over the Bank's Base Rate (BBR*) which currently stands at 2.15%. 

2) 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 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 BBR 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 click here.

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 €50 million or whose annual balance sheet total does not exceed €43 million. 

Key features of BOV JAIME

 
The SME Initiative portfolio benefits from support from the European Union pursuant to the SME Initiative with funding by the European Union under ERDF allocated to the Government of Malta and Horizon 2020 and by the European Investment Bank.