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

Bank of Valletta is fully committed to support the local business community. In these challenging times the bank is providing much needed liquidity and working capital through facilities aimed specifically at all types of local businesses that are facing challenges related to the COVID-19 pandemic, be they Small and Medium Enterprises (SMEs) or Large Enterprises.

Keeping businesses strong is our main focus during these difficult times.

Terms & Conditions
Apply Now

Designed in collaboration with the Malta Development Bank (MDB), and with the support of the Ministry of Finance, the BOV MDB COVID-19 Assist is the ideal solution for all those businesses who are facing a number of operational challenges.  

These relate to various running costs such as employees' wages and salaries, bills, pending invoices, acquisition of stock, maintenance costs and other expenses that are critical for the smooth running of the business. 

In times of difficulty, much needed financing is essential in managing these costs and keeping the business in sound financial health.

The BOV MDB COVID-19 ASSIST benefits from the support of the MDB COVID-19 Guarantee Scheme launched by the Malta Development Bank through the provision of a Bank Guarantee for €350,000,000, covered by a Government guarantee issued by the Ministry of Finance.



 Maximum Loan Amount:

SMEs up to €2 million
Large Enterprises up to €5 million

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 term: 18 to 72 months inclusive of moratorium
 Moratorium: 6 months (can be extended to 12 months depending on particular circumstances of the business)
 Interest Rate: Interest rates starting from a fixed rate of 2.5% for the first two years
 Fees and Charges: Guarantee fees apply.  All other bank charges are being waived
 Government Refund: BOV is in discussion with MDB on how business customers will be refunded with
the two-year interest rebate, recently announced by the government


The following are some of the conditions governing the product:  

  • All loans are subject to normal banking lending criteria and final approval from the Bank

  •  Eligible enterprises are business undertakings established and operating in Malta consisting of:
    •  SMEs which fall within the meaning of Commission Regulation (EU) EU No.651/2014 of 17th June 2014, and
    •  Large enterprises

  •  Eligible costs include, but are not limited to
    • Salaries of employees, including social and health security payments
    • Lease of establishment, including rental costs, energy and water bills, fuel etc
    • Unpaid invoices due to a decrease in business revenues in respect of working capital and other similar commitments and in respect of investment expenditures provided that investment expenditures only qualify under the Scheme if they were contracted for prior to the approval of this Scheme by the Commission
    • Acquisition of material and stock for continuation of business
    • Expenses directly related to contracts which were cancelled or postponed because of the COVID-19 outbreak, excluding penalties and other liabilities incurred due to non-performance of contracts
    • Maintenance costs

  • The interest rate may vary depending upon the size of the enterprise and the term of the loan. 

  • 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.
  • Guarantee fees as approved by the EU Commission apply  

  • The availability of this product runs up to 31st December 2020.

Other terms and conditions apply.

Product average rating:
0 / 5
Share this product:
Sort reviews by:
This item has no reviews yet.

Applying for BOV MDB COVID-19 ASSIST


Send an email to [email protected], or if you are a BOV customer please contact your Relationship Manager, Business Centre or Corporate Centre.  

 Fgura Business Centre                          2275 1391   [email protected]
 Gozo Business Centre 2275 7516 [email protected]
 Qormi Business Centre 2275 1115  [email protected]
 Mosta Business Centre  2275 1394 [email protected]
 Msida Business Centre 2275 1393 [email protected]
 Corporate Centre 2275 7700  [email protected]

We will help you find a solution for your particular needs and guide you as to the required documentation.

Keeping Businesses Strong



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).