Application for Access to Finance
and/or the allocation of Industrial
Space
18th April 2011
3.02 (update 09/08/2011)
Issue Date:
Version:
Applications should be signed and submitted to:
Business First
Gwardamangia Hill
Pieta’ , MEC0001
Email:
info@businessfirst.com.mt
Tel:
144
It is recommended that you contact Business First on 144 or your representative at
Malta Enterprise prior to compiling and submitting this application to receive
preliminary guidance on whether your application has the potential to be considered.
Application for Access to Finance and/or the allocation of Industrial Space
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INTRODUCTION
This application should be compiled for the request of Access to Finance instruments provided under the Business
Promotion Act (Loan Interest Rate Subsidies, Soft loans, and Loan Guarantees) and/ or the application for the allocation of
Industrial Space.
The application is divided in seven parts:
Part 1 – Details of Business and Promoters
Part 2 – Project Details
Part 3 – Request for Financial Assistance
Part 3A– Application for Loan Interest Rate Subsidy
Part 3B – Application for Soft Loan
Part 3C – Application for Loan Guarantee
Part 4 – Request for the allocation of Industrial Space
Part 5 – Annexes
Part 6 – Declaration by Certified Public Accountant
Part 7 – Declaration by Applicant
Please note that:

Access to Finance instruments may only be approved to enterprises eligible for such aid as defined in the Business
Promotion Act.

Allocation of Industrial Space is limited to qualifying enterprises requiring such space for eligible activities as
defined by the Business Promotion Act.

This Application Form and any attached documents will be treated in confidence throughout and after the project
evaluation process.

Only Application Forms that include all relevant supporting documents will be accepted and evaluated.

All replies must be clearly explained and substantiated.

Only typed Application Forms will be accepted. Should the application be hand-written or should the format of
the application form be altered, the application form will not be evaluated.

Applications received from undertakings established in Malta, that have outstanding liabilities in respect of
Income Tax, Value Added Tax, Final Settlement System (FSS) and Social Security Contributions (SSC) will not be
processed. Applications from such undertakings must include confirmations issued by the VAT department and
the Inland Revenue Department confirming their status as specified in the annexes section of this application
form.
When compiling this application, it is recommended to:

Provide realistic projections, milestones, and deliverables;

Provide specific details;

Invest adequate time and effort to compile and complete the application; and

Demonstrate why the application should be accepted.
Personal Data Protection
Any personal information collected in this form will be used for establishing the aid which may be granted to the applicant.
All information will be processed in accordance with the Data Protection Act, Cap 440 of the Laws of Malta and shall be
treated in confidence. The information contained in this application form will be processed by Malta Enterprise and may
be forwarded to third parties appointed by Malta Enterprise to evaluate, administer, implement, monitor, or audit any part
of this incentive. You have the right to access, rectify, and, where applicable, the right to erase personal data concerning
you. Malta Enterprise guarantees fair processing in respect of your personal information. Malta Enterprise will solely send
you information related to the Corporation’s services.
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PART 1 – DETAILS OF BUSINESS AND PROMOTERS
Applicant’s business name, address, and basic details
1.1
Details of the Enterprise submitting this application.
a. Registered Name1
b.
Enterprise Form
Select the applicable form for the list below
Other:
1.2
c.
If, as indicated in question (b), the applicant is quoted on a stock exchange, name the Stock
Exchange:
d.
Registration Number2
e.
Contact Address
f.
Web page Address
g.
Telephone Number
h.
VAT Number
i.
Year Established
Contact person
Contact details of the person to whom communication regarding this application should be addressed.
a. Contact Name & Surname
b. Designation
c. Telephone Number
d. Mobile Number
e. Email Address
1
2
Registered Name: Make sure that the company name is the exact registered name (as defined in the Memorandum and Articles).
In the case of partnerships and co-operatives, the name outlined in the deed of partnership should be used in this section. In the
case of Self Employed person, the name of the sole trader shall be inserted. If the business trades under a different name, please
also provide this name. If the application relates to a business that is still in formation, the details of the parent company or the
main promoter should be entered.
Registration Number: The registration number is the official registration number of the co-operative, company, or partnership as
defined in the Companies Act – Chapter 387 of the Laws of Malta. In the case of Self Employed, this should be the corresponding
Identity Card Number.
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1.3
Enterprise Structure
Details of the ownership and control structure of the Enterprise submitting this application.
a. In Annex 7 – Director and Shareholders, provide details (ID or Passport Number, Name, Date
of birth or Incorporation, and Address) of every Director and Shareholder, and a profile of
every Director holding 25% or more control in the applicant Enterprise.
b. Does the applicant Enterprise form part of a Group?
Yes SELECT YES OR NO
If Yes, please attach an Organisation chart of the Group Structure in Annex 13 – Supporting
Documentation.
c. Does the applicant Enterprise or any of its Directors or Shareholders
have any controlling interest in any other business?
Yes SELECT YES OR NO
If Yes, please elaborate. The details provided below should reflect the details provided in
the Annex 1 - Enterprise Size Declaration.
d. Provide details of any planned change in ownership.
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1.4
Current Business Activity – Provide a brief history of the business and describe the current
activity in terms of the Enterprise’s current products, services, and markets.
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PART 2 – PROJECT DETAILS
2.1
Project Description – Describe the proposed project and how it links with the investment
costs specified in Annex 2 – Investment Cost Breakdown (on spreadsheet file provided).
Elaborate on the project’s objectives and expected benefits to company.
2.2
Applicant’s Experience and Track Record – Describe the applicant’s experience in the
relevant industry and in similar projects.
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2.3
Proposed Project Financing
Explain how the project will be financed. This may include funding from own financial
resources, new bank loans, and/ or State funding. The total of the table below should be
equal to the investment costs quoted in Annex 2 - Investment Cost Breakdown.
Source
Value
Own financial resources
€0
New bank loans
€0
Other sources*
€0
Total Investment
€ 0
* Please specify
2.4
Other National/ European funding for this project?
a. Has an application been made for assistance from any other
National/ European funding program for this project?
b. Has any assistance requested been approved?
Yes SELECT YES OR NO
Yes SELECT YES OR NO
c. The applicant should highlight any other National and/ or European funding applied for in
relation to any part of this project. The information provided should give details of the
approving Body, any application reference number/s, application date/s, financial instrument
concerned, and funding requested and approved.
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Expected Project Results – Financial Performance
2.5
i.
Describe and justify the expected project results and projections illustrated in Annex 3 - Profit
& Loss Statement, Annex 4 - Balance Sheet, and Annex 5 - Cash flow Statement, elaborating
on the contribution of the project to the financial performance and position of the applicant
Enterprise. Clearly list any assumptions made.
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2.6
Expected Project Results – Employment
Elaborate on the contribution of the project to the human resources of the enterprise.
a. Justify the expected change in employment as illustrated in Annex 3 - Profit & Loss Statement.
b. Describe the skill base categories of the human resources required for the project.
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2.7
Markets
This section analyses the market impact of the proposed project
a. Provide an indicative breakdown of the current and projected turnover by geographic region
within three years. The total turnover levels in the table below should match the total
turnover levels in Annex 3 - Profit & Loss Statement.
Annual turnover as per
latest Audited/
management accounts
Forecasted turnover for
Year 3
Malta
€0
€0
European Union
€0
€0
Middle East
€0
€0
Africa
€0
€0
Americas
€0
€0
Asia
€0
€0
Other
€0
€0
TOTAL
€ 0
€ 0
Market
b. Describe how the proposed project will support growth in the above market/s and expansion
into new markets.
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c. Expand on the marketing strategy. Highlight any impact on competitors and dependence on
suppliers. Also indicate the perceived risks and exit strategies or contingency plans.
2.8
Environmental, Regulatory, and Legal obligations
Explain any environmental, regulatory, and legal obligations, together with the environmental impact of
the project and any mitigation measures.
a. Does the proposed project raise any environmental concerns? This section should highlight
the requirement of any Environmental Impact Assessments or Environmental Permits such as
Integrated Pollution Prevention and Control (IPPC) Permits, the use of hazardous materials,
and waste generation, recycling, and disposal.
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b. Describe the energy consumption/ savings associated with the proposed project. This section
should describe the energy consumption and saving initiatives to be implemented in the near
future and other long term plans.
c. Describe any health & safety issues relating to the proposed project.
d. Describe any applicable industry standards in relation to the implementation of the proposed
project.
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PART 3 – REQUEST FOR FINANCIAL ASSISTANCE
If no financial assistance is being requested,
proceed to Part 4 – Allocation of Industrial Space
Select ONE of the following three forms of financial assistance being requested from Malta
Enterprise with respect to investment in plant machinery and equipment. Note that Loan
Interest Rate Subsidies are the preferred form of assistance. Soft Loans and Loan
Guarantees may only be approved in specific circumstances.
- Loan Interest Rate Subsidy - This incentive consists of a loan interest rate
subsidy of 1%, 2%, or 3%. This interest rate subsidy may be granted on
interest payable to a bank during the first five years of the duration of the
loan taken to finance investment in plant and equipment.
Complete Part 3A – Application for Loan Interest Rate Subsidy
- Soft Loan - Soft Loans typically cover 33% (but in any case will never exceed
75%) of the investment in plant and equipment.
Complete Part 3B – Application for Soft Loan
- Loan Guarantee - Guarantees may be utilised to secure a bank loan taken to
finance investment in plant and equipment. The support is typically 50% (but
in any case will never exceed 75%) of the bank loan.
Complete Part 3C - Application for Loan Guarantee
Malta Enterprise will evaluate each application based on the risk entailed and economic
benefit that the proposed project is expected to generate.
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Part 3A – APPLICATION FOR LOAN INTEREST RATE SUBSIDY
Complete this section only if you are applying for a cash grant in the form of loan interest rate
subsidy on bank financing taken to finance the proposed investment in plant and equipment. This
incentive consists of a loan interest rate subsidy of 1%, 2%, or 3%. The interest rate subsidy may be
approved on interest payable to a bank during the first five years of the duration of the loan. The
loan on which the interest subsidy is calculated is capped at a maximum of €7 million. Malta
Enterprise will evaluate each application based on the risk entailed and economic benefit that the
proposed investment is expected to generate.
3A.1
What is the value of the investment in plant and equipment
on which loan interest rate subsidy is being requested?
€0
3A.2
What is the value of the bank loan to be taken to finance the
above investment?
€0
3A.3
Have you already approached a bank for such a loan?
Yes SELECT YES OR NO
3A.4
What was the outcome?
In Annex 8 - Bank Loan Sanction letter, attach a copy of the bank’s sanction letter or the
bank’s confirmation that it is willing to favourably finance the investment in plant and
equipment.
3A.5
What is the effective interest rate expected to be paid to the
bank on the above-mentioned loan?
%
3A.6
What is the expected duration of such bank loan?
months
3A.7
What are the expected repayment terms of such bank loan? Give details of any
moratorium periods on capital repayments, repayment amounts, and frequency of
payments.
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PART 3B – APPLICATION FOR SOFT LOAN
Complete this section only if you are applying for financial support in the form of a Soft Loan. Soft
Loans may typically cover 33% (but in any case will never exceed 75%) of the investment in plant and
equipment. Malta Enterprise will evaluate each application based on the risk entailed and economic
benefit that the proposed investment is expected to generate.
3B.1
Give details of the front financing that will be utilised to part-finance the investment in
plant and equipment. Examples of front finance include increase in share capital,
shareholders loans, internal funds, and/or bank loans.
3B.2
Have you approached a bank to part-finance the proposed
investment in plant and equipment?
3B.3
What was the outcome?
Yes SELECT YES OR NO
If the bank is willing to part-finance the investment in plant and equipment attach a copy of
the bank’s sanction letter or the bank’s confirmation that it is willing to favourably partfinance the investment in Annex 8 - Bank Loan Sanction letter.
a. What is the effective interest rate expected to be paid to
the bank on the above-mentioned loan?
%
b. What is the expected duration of such bank loan?
months
c. What are the expected repayment terms of such bank loan? Give details of any
moratorium periods on capital repayments, repayment amounts, and frequency of
payments.
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3B.4
What is the value of the Soft Loan being requested to endfinance the proposed investment in plant and equipment?
Note, that soft loans are approved as end-finance.
3B.5
Do you have any assets that can contribute as collateral on
the requested funding?
If Yes, what is the estimated value?
€0
No SELECT YES OR NO
€
If Yes, explain the nature of such assets.
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PART 3C– APPLICATION FOR LOAN GUARANTEE
Complete this section only if you are applying for financial support in the form of a Loan Guarantee.
Guarantees may be utilised to secure a bank loan. The support typically covers 50% (but in any case
will never exceed 75%) of the bank loan required to finance the proposed investment in plant and
equipment. Malta Enterprise will evaluate each application based on the risk entailed and economic
benefit that the proposed investment expected to generate.
3C.1
Give details of the front financing that will be used to finance the investment in plant and
equipment. Examples of front finance include increase in share capital, shareholders
loans, or internal funds.
3C.2
Have you approached a bank to end-finance the proposed
investment in plant and equipment?
3C.3
What was the outcome?
Yes SELECT YES OR NO
If the bank is willing to end-finance the project, attach a copy of the bank’s sanction letter
or the bank’s confirmation that it is willing to favourably end-finance the investment in
plant and equipment in Annex 8 - Bank Loan Sanction letter.
a. What is the value of the bank loan on which a Loan
Guarantee is being requested?
€0
b. What is the effective interest rate expected to be paid to
the bank on the above-mentioned loan?
%
c. What is the expected duration of such bank loan?
months
d. What are the expected repayment terms of such bank loan? Give details of any
moratorium periods on capital repayments, repayment amounts, and frequency of
payments.
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3C.4
What is the value of the Loan Guarantee requested?
€0
Based on the values entered, the requested Loan Guarantee would cover !Zero Divide% of
the bank loan.
3C.5
Do you have any assets that can contribute as collateral on
the requested funding?
If Yes, what is the estimated value?
Yes SELECT YES OR NO
€
If Yes, explain the nature of such assets.
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PART 4 – APPLICATION FOR ALLOCATION OF INDUSTRIAL SPACE
COMPLETE THIS SECTION ONLY IF YOU ARE REQUESTING THE ALLOCATION OF INDUSTRIAL SPACE.
4.1
Specify the size of the requested industrial premises:
Size in square
meters
Type of usage
Production/ Operations
0m2
Warehouse/ Storage
0m2
Administration/ Offices
0m2
Open area
0m2
Other *
0m2
TOTAL
0m2
* Please specify
In line with the above, attach a plan layout (scale 1:100) of the requested industrial premises
in Annex 13 – Plan Layout.
4.2
Specify the requirements of the requested industrial premises. Give details of any specific
requirements such as building dimensions, number of floors, accessibility, finishes, water and
electrical supply, and floor load bearing capability.
4.3
Specify the size of the current premises (if applicable):
Type of usage
Privately
Owned
Leasehold
Government
Property
Total
Manufacturing/ Production
0m2
0m2
0m2
0m2
Warehouse/ Storage
0m2
0m2
0m2
0m2
Administration/ Offices
0m2
0m2
0m2
0m2
Showroom/ Retail Space
0m2
0m2
0m2
0m2
Open area
0m2
0m2
0m2
0m2
Other
0m2
0m2
0m2
0m2
TOTAL
0m2
0m2
0m2
0m2
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4.4 ii.
Give details of the number of floors within your current premises.
4.5
Did you carry out a Space Utilisation Audit in respect to the proposed
Yes SELECT YES OR NO
project?
If Yes, please attach the Space Audit in Annex 13 – Supporting Documentation.
4.6
Explain the reasons for requesting the industrial premises. This may include expansion of the
current operations, new lines of business, and physical restrictions associated to the current
premises.
4.7
If applicable, outline the usage of the current premises in the eventuality that the additional
industrial premises are allocated by ME/ MIP.
4.8
If applicable, have you approached a bank to part-finance the
proposed project?
4.8
What was the outcome?
Yes
4.9 SELECT YES OR NO
If the bank is willing to part-finance the project, attach a copy of the bank’s sanction letter or
the bank’s confirmation that it is willing to favourably finance the project in Annex 8 - Bank
Loan Sanction letter.
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PART 5 - ANNEXES
This section outlines the Annexes required for the complete submission of this application
form. (Annex 1 to 8 are mandatory, Annex 9 to 12 are mandatory where applicable).
Annex 1
– Enterprise Size Declaration (on spreadsheet file provided). The electronic version of
this document should be submitted on a CD-ROM enclosed with the application.
Annex 2
– Investment Cost Breakdown (on spreadsheet file provided). The electronic version
of this document should be submitted on a CD-ROM enclosed with the application.
Annex 3
– Profit & Loss Statement (on spreadsheet file provided). The electronic version of
this document should be submitted on a CD-ROM enclosed with the application.
Annex 4
– Balance Sheet (on spreadsheet file provided). The electronic version of this
document should be submitted on a CD-ROM enclosed with the application.
Annex 5
– Cash flow statement (on spreadsheet file provided). The electronic version of this
document should be submitted on a CD-ROM enclosed with the application.
Annex 6
– Audited/ Management Accounts – In case of registered companies, attach Audited/
Management Accounts for the previous three years. In case of self-employed
applicants, attach a copy of the latest three Income Tax Returns.
Annex 7
– Directors and Shareholders – Provide details (ID or Passport Number, Name and
Surname, Date of birth or Incorporation, and Address) of every Director and
Shareholder and a profile of every Director holding 25% or more control in the
applicant Enterprise.
Annex 8
– Bank References.
Annex 9
– Bank Loan Sanction letter – In the eventuality that a bank sanction letter is not
available, please provide a statement from the bank as evidence that the bank
considers favourably the financing of the proposed project.
Annex 10
– VAT compliance certificate – Enterprises established in Malta should attach a VAT
compliance certificates issued by the VAT department not more than 6 months
before of the submission of this application form.
Annex 11
– Income Tax compliance certificate – Enterprises established in Malta should attach a
certificate issued by the Inland Revenue Department confirming that the applicant
has no liabilities in respect of Income tax or is otherwise honouring an agreement for
setting any outstanding amounts. The certification should have been issued in the
six months preceding the submission of this application form.
Annex 12
– Final Settlement and of Social Security Contributions compliance certificate –
Enterprises established in Malta should attach a certificate issued by the Inland
Revenue Department confirming that the applicant has no liabilities in respect of the
Final Settlement System (FSS) and of Social Security Contributions (SSC) or is
honouring an agreement for setting any outstanding amounts. The certification
should have been issued in the six months preceding the submission of this
application form.
Annex 13
– Supporting Documentation (where applicable)
-
Memorandum and Articles of association.
In case the applicant Enterprise is related to other enterprises, attach
an Organisation chart of the Group Structure.
Recent business plan and enterprise brochure.
Plan Layout (scale 1:100) of the requested industrial premises.
Space Utilisation Audit.
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PART 6 – DECLARATION BY CERTIFIED PUBLIC ACCOUNTANT
I declare that the financial projections attached to this application (Annexes 2, 3, 4 and 5) have been
prepared on the basis of the assumptions stated and in accordance with the requirements of the
International Financial Reporting Standards. In preparing these financial projections, the directors or
otherwise:



presume that the company will continue in business for the foreseeable future;
have made judgments and estimates that are reasonable and prudent; and
have considered the economic and market uncertainties as well as the associated risks
and opportunities in making the financial projections.
The overall capital requirements to carry out the proposed project have been effectively assessed
and the applicant is in a position to meet these requirements.
Name and Surname
Address
Date
/ /
Signature
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PART 7 – DECLARATION BY APPLICANT
Has any Director/ Shareholder ever been personally declared bankrupt
and subject to any formal insolvency procedure?
Has any Director/ Shareholder ever been the proprietor, Director, or
Shareholder of a business that has been subject to a bankruptcy
procedure or to an investigation or sanctioned under any financial
regulatory framework?
Yes SELECT YES OR NO
Yes SELECT YES OR NO
If you answered Yes to any one of the above statements, kindly attach a separate document providing
details and clarifications.
I, the undersigned do hereby declare that the information being submitted with regards to this
application is correct.
I also confirm that the costs on which the aid is being claimed, are not recoverable in any way from
other sources and that there are no arrears with respect to VAT, Income Tax, Social Security and/or
rental payments to Government of Malta in relation to this business activity.
Name of Applicant (full legal name)
Authorised Signatory
Designation
Date
/
/
Signature
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