BMV Express (Quick Guarantee)

Project information

Index: 1174R4
Priority:1: Innovation and the knowledge economy
Sub Theme:Entrepreneurship and SMEs
Location GERMANY MECKLENBURG-VORPOMMERN Greifswald Mecklenburg-Vorpommern Start/End date of the practice
Start: 2009
End: open

Topic of the practice

Support to SMEs

Good Practice Information

The purpose of this loan scheme is to help viable SMEs and self-employed professionals access the finance needed to compete and grow their business. Providing lenders with up to 70% guarantee of the value (ranging from €35,000 to €150,000) of each individual loan approved and proposed by the lender, the Bürgschaftsbank Mecklenburg-Vorpommern (BMV) aims to provide a simple, fast track guarantee
service for established SMEs. Start-ups and entrepreneurs are excluded from the scheme.
Guarantees can be advised within 24 hours and used to guarantee loans to finance investments, inventories and equipment, but cannot be used for the rescheduling of debts. The lifetime of the guarantee depends on the kind of investment and ranges between 8 years for inventories and 23 for structural measures.

Evidence of success

The easy, standardised application process, real time response and the express approval within 24 hours are very well received. The 5 clearly defined standards of credit worthiness make the procedure transparent and the costs associated with the guarantee are competitive.
In 2012 74 applications were submitted and 68 approved (91.9%).

Contact details to obtain further information on the practice

Mario Kokowsky

Centre of Technology Western Pomerania

Annex completed on: 08-09-2013

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