Cookies
This website uses cookies in order to improve user experience. Please click 'I accept' to consent the use of this technology by Bank of Valletta p.l.c. Click here for more information on cookies or to view the Bank's Privacy Notice.
Get in touch - Bank of Valletta - BOV Group
Customer Service Centre - Bank of Valletta - BOV Group
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
Maximise Banner
Minimise Banner
next Previous
next Previous
next Previous
Support to Businesses
BOV-MDB COVID Assist

Bank of Valletta, together with the Malta Development Bank (MDB), have launched the ‘BOV-MDB COVID Assist’, a financing scheme aimed at assisting local businesses facing unprecedented disruptions brought about by the COVID-19 pandemic.  

The BOV-MDB COVID Assist (BMCA) has been developed under the “MDB COVID-19 Guarantee Scheme” to provide access to finance for all types of local businesses, facing COVID-19 related challenges, be it Small Medium Enterprises (SMEs) or large enterprises. It will enable them to meet working capital requirements, aiding them with running costs such as employees’ wages and salaries, bills, pending invoices, acquisition of stock, maintenance costs and expenses that are critical for the smooth running of the business.  

SMEs can take up to a maximum loan amount of €2 million, while large enterprises can apply for up to €5 million, always subject to bank’s approval. Higher amounts may exceptionally be considered subject to MDB approval and subject to internal limits. The scheme allows up to €10m for SMEs and €25m for Large Corporates.

Repayment terms can range between 18 and 72 months, with an inclusive moratorium period of six-months that can be extended to twelve months depending on particular circumstances of the business. Through the Bank's long-term collaboration with MDB, these credit supportive measures come with attractive, interest rates starting from a fixed rate of 2.5% for the first two years. Guarantee fees apply, all other bank fees and charges are waived, at no additional fees and charges.

The Bank is currently discussing with MDB how business customers will be refunded with the two-year interest rebate, recently announced by the government.  

More information can be found here.

All loans are subject to normal bank lending criteria and final approval from the Bank. Interest rates will start from a fixed rate of 2.5 % for the first two years exclusive of guarantee fees. As from year three, a variable interest rate which will be inclusive of the guarantee fees, will not exceed a 3.00% per annum over the three months Euribor rate floored at 0% for loans up to€ 5 million. Issued by Bank of Valletta p.l.c., 58, Triq San Zakkarija, Il-Belt Valletta VLT 1130.  Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking in terms of the Banking Act (Cap. 371 of the Laws of Malta).

BOV Business Assist Fund

We are very conscious of the difficulties that businesses are facing in the current COVID-19 scenario. Reaffirming its strong commitment to continue extending its support in these challenging times, Bank of Valletta has increased its ‘Business Assist’ fund from €10 million to €20 million. 

The ‘Business Assist’ fund provides direct working capital to support you if your business is facing cash flow issues. Each case is analysed on its own merits and subject to credit assessment and the maximum loan per business customer may not exceed €500,000. This will ensure that these funds are made available to as many business customers as possible.

Apart from the €20 million fund, we have a number of other measures aimed at providing support to businesses such as:
  • Interest will be charged in June instead of March
  • Capital repayment holidays ranging between three and twelve months
  • Ease of trade finance services via internet banking at no additional cost
  • Provision of direct working capital for customers facing short term cash flow issues
Offered on a case-by-case basis, solutions are tailored according to your particular circumstances. Other initiatives for assistance may be considered.

Contact your Relationship Manager via email or phone to discuss your requirements.

More on how you can get in touch with us 
Talk to Us
Share this item:
Print page
My Guide has identified the following related material
next Previous
 
BOV Pjazza
next Previous
Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking and investment services in terms of the Banking Act (Cap. 371 of the Laws of Malta) and the Investment Services Act (Cap.370. of the Laws of Malta).