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The SNCI sets up a "Special Anti-Crisis Construction Financing" scheme
The SNCI has set up a Special Anti-Crisis Financing Scheme for companies in the construction sector - structural work, technical equipment and finishing - in crisis situations.
The SNCI has set up a Special Anti-Crisis Financing Scheme for companies in the construction sector - structural work, technical equipment and finishing - in crisis situations. The intervention envelope decided by the SNCI amounts to 100 million euros, corresponding to a total leverage effect of 125 million euros, including bank financing. This instrument is aimed at Luxembourg SMEs and large companies whose activities are directly related to the construction sector - structural work - technical equipment - finishing, which are soundly managed, have not previously been in financial difficulty, have a valid establishment permit from the Ministry of the Economy and are facing temporary financial difficulties as a result of exceptional financing requirements caused by the crisis situation in the sector in question. Companies directly or indirectly involved in real estate development and real estate agencies are not eligible. Financing is provided indirectly through the customer's usual bank - the SNCI finances up to 80% of the requirement, on condition that the bank finances the remaining 20%. The amount is determined on the basis of a file analysis. The SNCI disburses without further formalities at the request of the customer's bank. The maximum duration of the FSAC is 5 years, with a grace period of maximum two years. Applications must be submitted to the SNCI by June 30, 2024 at the latest. With this instrument, the SNCI intends to give companies in the sector the breath of fresh air they need to overcome the current difficult situation.