The Malta Development Bank has introduced a new initiative intended to support smaller businesses take out loans under the COVID-19 guarantee scheme (CGS) without the need for high levels of soft collateral in the form of personal guarantees.
It said in a statement that through the guarantee of 90% provided by the MDB, the CGS enabled many businesses to secure larger loans for working capital at subsided interest rates and moratoria on loan and interest repayments.
The MDB will be providing additional protection to banks in respect of the 10% of the loan not covered by the 90% guarantee.
Source: Times of Malta
Updated 16:00
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