BOV financial package in support of SMEs

Following the allocation of Structural Funds by Malta Enterprise to assist industry, Bank of Valletta is offering a financial package to finances and co-finances projects under the ERDF Innovation Actions Grant Scheme.

The bank said it is committed to support the business community in Malta by providing a framework for helping the process of innovation.

During the current financial period BOV has issued numerous co-financing and financing packages with the aim of alleviating the financial burden of various organisations in the provision of value-added services to their clients.

The ERDF Innovation Actions Grant Scheme is intended for private organisations that seek to invest in product or service innovation, process innovation and organisational innovation.

Eligible costs under this initiative include consultancy services required for implementing innovation management techniques and investment costs in tangible and intangible assets.

Malta Enterprise will be offering between 30 to 50 per cent grants on eligible costs.

The grants percentage will depend on the available budget line while minimum grant value per project is €20,000 for a medium-sized enterprise, €25,000 for a small enterprise and €15,000 for an SME active in the transport sector.

Interested parties can contact any BOV branch, the Customer Service Centre on 2131 2020 or visit the bank’s website on www.bov.com.