BMV Express (Quick Guarantee)
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
Centre of Technology Western Pomerania
Annex completed on: 08-09-2013