Application for Access to Finance and/or the allocation of Industrial Space

Version 3.05

Access to Finance/Allocation of Industrial Space

Application Form

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, andLoan Guarantees) and/or the application for the allocation of Industrial Space.

The application is divided in sevenparts:

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 eligibleactivities 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 recommendedto:

  • 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.

Part 1 – Details of Business and Promoters

1.1Applicant’s business name, address, and basic details

Details of the Enterprise submitting this application.

  1. Registered Name[1]

  1. Enterprise Form
/ Choose an item. /
Other:
  1. If, as indicated in question (b), the applicant is quoted on a stock exchange, name the Stock Exchange:

  1. Registration Number[2]

  1. Contact Address

  1. Web page Address

  1. Telephone Number

  1. VAT Number

  1. Year Established

1

1.2Contact person

Contact details of the person to whom communication regarding this application should be addressed.

  1. Contact Name & Surname

  1. Designation

  1. Telephone Number

  1. Mobile Number

  1. Email Address

1.3Enterprise Structure

Details of the ownership and control structure of the Enterprise submitting this application.

  1. 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.

  1. Does the applicant Enterpriseform part of a Group?
/ YesNo SELECT YES OR NO
If Yes,please attach an Organisation chart of the Group Structure in Annex 13 – Supporting Documentation.
  1. Does the applicant Enterprise or any of its Directors or Shareholders have any controlling interest in any other business?

YesNo SELECT YES OR NO
If Yes, please elaborate.The details provided below should reflect the details provided in the Annex 1 - Enterprise Size Declaration.
  1. Provide details of anyplanned change in ownership.

1.4Current 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.

Part2 –Project Details

2

2.1Project 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.

2.2Applicant’s Experience and Track Record–Describe the applicant’s experience in the relevant industry and in similar projects.

2.3Proposed 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

2.4Other National/ European funding for this project?

  1. Has an application been made for assistance from any other National/ European funding program for this project?

YesNo SELECT YES OR NO
  1. Has any assistance requested been approved?

YesNo SELECT YES OR NO
  1. 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.

2.5Expected Project Results – Financial Performance

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.

2.6Expected Project Results – Employment

Elaborate on the contribution of the project to the human resources of the enterprise.

  1. Justify the expected change in employment asillustrated in Annex 3 - Profit & Loss Statement.
  1. Describe the skill base categories of the human resourcesrequired for theproject.

2.7Markets

This section analyses the market impact of the proposed project

  1. 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.

Market / 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
  1. Describe how the proposed project will support growth in the above market/s and expansion into new markets.
  1. Expand on the marketing strategy. Highlightanyimpact on competitors and dependence on suppliers. Also indicate the perceived risks and exit strategies or contingency plans.

2.8Environmental, Regulatory, and Legal obligations

Explain any environmental, regulatory, and legal obligations, together with the environmental impact of the project and any mitigation measures.

  1. 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.
  1. Describe the energy consumption/ savings associated with the proposedproject. This section should describe the energy consumption and saving initiatives to be implemented in the near future and other long term plans.
  1. Describe any health & safety issues relating to theproposed project.
  1. Describe any applicable industry standards in relation to the implementation of the proposed project.

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 followingthree formsof financial assistance being requested from Malta Enterprisewith respect to investment in plant machinery and equipment. Note that Loan Interest Rate Subsidiesare 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 istypically 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.

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.1What is the value of the investment in plant and equipment on which loan interest rate subsidy is being requested?
€ 0
3A.2What is the value of the bank loan to be taken to finance the above investment?
€ 0
3A.3Have you already approached a bank for such a loan? / YesNo SELECT YES OR NO
3A.4 / What was the outcome?
In Annex 9 - 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.5What is the effective interest rate expected to be paid to the bank on the above-mentioned loan?
%
3A.6What is the expected duration of such bank loan? / months

3A.7What are the expected repayment terms of such bank loan? Give details of any moratorium periods on capital repayments, repayment amounts, and frequency of payments.

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.2Have you approached a bank to part-finance the proposed investment in plant and equipment?
YesNo SELECT YES OR NO
3B.3 / What was the outcome?

If the bank is willing to part-finance the investment in plant and equipmentattach a copy of the bank’s sanction letter or the bank’s confirmation that it is willing to favourably part-finance the investment in Annex 9 - Bank Loan Sanction letter.

  1. What is the effective interest rate expected to be paid to the bank on the above-mentioned loan?

%
  1. What is the expected duration of such bank loan?
/ months
  1. 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.

3B.4What is the value of the Soft Loan being requestedto end-finance the proposed investment in plant and equipment? Note, that soft loans are approved as end-finance.
€ 0
3B.5Do you have any assets that can contribute ascollateral on the requested funding?
YesNo SELECT YES OR NO
If Yes, what is the estimated value? / €
If Yes, explain the nature of such assets.

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.2Have you approached a bank to end-finance the proposed investment in plant and equipment?
YesNo SELECT YES OR NO
3C.3 / What was the outcome?

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 favourablyend-finance the investment in plant and equipment in Annex 9 - Bank Loan Sanction letter.

  1. What is the value of the bank loan on which a Loan Guarantee is being requested?

€ 0
  1. What is the effective interest rate expected to be paid to the bank on the above-mentioned loan?

%
  1. What is the expected duration of such bank loan?
/ months
  1. 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.

3C.4What 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.5Do you have any assets that can contribute ascollateral on the requested funding?
YesNo SELECT YES OR NO
If Yes, what is the estimated value? / €
If Yes, explain the nature of such assets.

Part 4 – Application for Allocation ofIndustrial Space Complete this section only if you are requesting the allocation of Industrial space.

3

4

4.1Specify the size of the requested industrial premises:

Type of usage / Size in square meters
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 inAnnex 13 – Plan Layout.

4.2Specifythe 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.

4.3Specify 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

4.4Give details of the number of floors within your current premises.

4.5Did you carry out a Space Utilisation Audit in respect to the proposed project?
YesNoSELECT YES OR NO

If Yes, please attach the Space Audit in Annex 13 – Supporting Documentation.

4.6Explain 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.

4.7If applicable, outline the usage of the current premises in the eventuality that the additional industrial premises areallocated by ME/ MIP.

4.8If applicable, have you approached a bank to part-finance the proposed project? / 4.9
YesNo SELECT YES OR NO
4.8 What was the outcome?

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 9 - Bank Loan Sanction letter.

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 inthe 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.