Today 16 January 2017, the Portuguese government, IAPMEI, PME Investimentos and the Portuguese mutual guarantee scheme, member of AECM, launched a new 1,6 billion euros credit line with partial guarantee (from 50% to 70%) from the private mutual guarantee societies (MGS) and partial public counterguarantee (up to 65%) from the FCGM, managed by SPGM.
This follows another 1 billion euros credit line with partial guarantee (up to 70%) from the private mutual guarantee societies (MGS) and partial public counterguarantee from the FCGM (up to 70% of the guarantee), managed by SPGM. This one was launched by the portuguese government and IFD (the portuguese promotional bank) in August 2016.
Until today the Portuguese Mutual Guarantee Scheme supported around 90 thousand SME and microfirms, as well as mid caps, also in partnership with all banks operating in the country and the public authorities, specially the Ministry of the Economy institutions such as IAPMEI, the Tourism Office and PME Investimentos.
The guarantee scheme also manages more than 23 thousand student loans as well as the start up microloans and the start up facility for unemployed people from the Social Security Ministry.
The mutual guarantee societies have around 80 thousand SME shareholders, as well as the banks and the chambers of commerce in the country, and a small minority stake from SPGM and public authorities.
See more at www.spgm.pt