Entrepreneurship and Self-Employment Support Line
Guarantee Products

Entrepreneurship and Self-Employment Support Line

Total Amount
€253.385.000

Purpose

The aim is to facilitate the creation of self-employment or job positions for unemployed individuals, young people seeking their first job, and low-income self-employed workers through bank loans with subsidies.

This Line provides a total allocation of €253.3 million, distributed across two specific lines:
  • "MICROINVEST" Line: allocation of €82.5 million, for credit operations up to a maximum financing amount of €20,000 per operation;
  • "INVEST +" Line: allocation of €170.8 million, for credit operations up to a maximum financing amount of €100,000 per operation, with limits of 95% of the total investment and €50,000 per full-time job created.

Beneficiaries

Private companies that have at least 50% of their founders registered as unemployed with the Employment Centers, who have not yet started their activity at the time of the credit application (except for projects that include, in the investment to be made, the purchase of share capital), with profit purposes, regardless of their legal form, including cooperatives, that create job positions and contribute to the dynamisation of the local economy, under the Entrepreneurship and Self-Employment Creation Support Program, and that meet the requirements set out in the Line Protocol and the applicable legislation and regulations.

Eligible recipients include:

Unemployed individuals registered with the employment centers, with the capacity and availability to work, in one of the following situations:
  • Unemployed individuals registered for 9 months or less, in involuntary unemployment, under Decree-Law No. 220/2006, of November 3, or unemployed individuals registered for more than 9 months, regardless of the reason for registration;
  • Young people seeking their first job, defined as individuals between the ages of 18 and 35 (inclusive), with at least a completed secondary education or Level 3 qualification, or enrolled in a qualification process leading to that level of education or qualification, and who have never had an indefinite employment contract;
  • Individuals who have never worked as an employee or self-employed;
  • Self-employed workers whose average monthly income, based on the months they were active in the last year, is lower than the guaranteed minimum monthly wage.

Additionally, eligible for the MICROINVEST credit line are:

Recipients of the National Microcredit Programme: individuals facing particular difficulties in accessing the labor market and at risk of social exclusion, who have a viable business idea, an entrepreneurial profile, and present viable projects to create job positions;

Microentities and cooperatives with up to 10 employees, including worker members, presenting viable projects with net job creation, especially in the field of social economy activities.

How to apply

MICROINVEST Line:

  • Contact an accredited financial institution (IC): The beneficiary must reach out to a participating bank and submit a financing request/application for the line.
  • Initial Decision by IC: The financial institution will make an initial decision based on its credit risk policy. If the operation is refused, the IC will simply inform the beneficiary of its decision.
  • Submission to the Line's Managing Entity (BPF): After approval by the IC, it will submit the application to the Managing Entity (Banco Português de Fomento - BPF) via the Banca Portal, in the format provided by the system. This will include the necessary information for the analysis of the operation's eligibility within the line.
  • BPF’s Decision: Within 5 working days of receiving the request, BPF will confirm the operation’s eligibility to the IC and the Mutual Guarantee Society (SGM), including whether there is a sufficient plafond for the requested financing and the eligibility under the EU de minimis aid regime, which determines the granting of the bonus.
  • Adjusting the Bonification: If the bonus is reduced due to the de minimis aid regime, the IC can either proceed with the operation with the originally approved bonus or adjust the total amount to match the corrected bonus. The IC must communicate its decision to the BPF and SGM within 10 working days after receiving the eligibility confirmation.
  • Contracting Operations: Approved operations must be contracted with the beneficiary within 30 working days of receiving the eligibility confirmation. This deadline can be extended by 20 working days upon a justified request to the Managing Entity, which will be tacitly accepted unless refused within 5 working days.

INVEST+ Line:

  • Contact an accredited financial institution (IC): The beneficiary must reach out to a participating bank and submit a financing request/application for the line.
  • Initial Decision by IC: The IC will make an initial decision based on its credit risk policy. If the operation is refused, the IC will simply inform the beneficiary of its decision.
  • Submission to SGM: After approval by the IC, the IC will submit the application to the Mutual Guarantee Society (SGM) through the Banca Portal, with the necessary elements for risk analysis and obtaining the mutual guarantee.
  • SGM’s Decision: The SGM will independently make its decision and communicate it to the IC within 10 working days. If the SGM requests additional documents for analysis, the deadline may be extended.
  • Submission to BPF: After SGM’s approval, it will submit the application to the Managing Entity (BPF) via the Banca Portal, with the required information for the operation’s eligibility within the line.
  • BPF’s Decision: Within 5 working days of receiving the application, the BPF will confirm the operation’s eligibility to the IC and SGM, including the existence of a plafond and its compliance with the de minimis aid regime.
  • Adjusting the Bonification: If the bonus is reduced due to the de minimis aid regime, the IC can either proceed with the approved bonus or adjust the total financing to the corrected bonus. The IC must inform the BPF and SGM of its decision within 10 working days after receiving the eligibility confirmation.

Legal Notice:
The information provided herein is for promotional purposes only and does not replace consultation of the legally required pre-contractual, contractual, and protocol information, nor does it substitute the full reading of the documentation applicable to each financing instrument.
The conditions presented are merely indicative and may be adjusted in accordance with regulatory, legal, or operational developments.
The contracting of any financing, guarantee, or equity instrument is subject to eligibility verification, risk assessment, approval by the entities involved, and the specific conditions defined for each operation.