Carta Social

04/05/2023

Entities of the Social Economy can already apply for the funding line of 120 million euros for the realization of investments in the scope of the environmental transition, the realization of new projects or the requalification of social equipment.

"This funding line is another support available to Social Economy Entities, given the extraordinary socio-economic context resulting from the increase in energy costs, to encourage the implementation of structural projects that respond to the country's needs," said Ana Mendes Godinho, Minister of Labour, Solidarity and Social Security.

This support line is addressed to Entities that are Private Social Solidarity Institutions (IPSS) or similar non-profit entities with SME certification, where applicable, located in national territory and with a frameable main activity.

Entities can apply for funding of up to €1.5 million through short-, medium- or long-term loans (up to 10 years after contracting the operation, with a possible extension of up to 15 years), with the possibility of up to 36 months of capital shortfall.

The operations benefit from a guarantee provided by the Mutual Guarantee Companies – and counter-guaranteed by 90% of the Mutual Counter-guarantee Fund – intended to guarantee up to 80% of the capital outstanding at any given time.

The opening of the Financing Line was formalized, in a session promoted by the Ministry of Labour, Solidarity and Social Security, the Institute of Financial Management of Social Security and the Banco Português de Fomento, under the initiative Government Closer in Braga.

Representatives of the underwriting credit institutions and mutual guarantee societies were also present when the protocols were signed.

Source: portugal.gov.pt