Default Guarantees of Bürgschaftsbank Bremen

This funding program targets business founders, small and medium-sized enterprises (SMEs), and freelancers based in Bremen who do not have sufficient collateral for their financing projects. The goal is to enable economically viable projects by providing default guarantees, thereby strengthening the economy in Bremen.

Bürgschaftsbank Bremen supports a wide range of financing projects, including business start-ups, business acquisitions, investments, and working capital financing. The funding aims to replace or supplement missing or insufficient loan collateral.

Funding is provided in the form of default guarantees for loans, which can cover up to 80 percent of the loan amount. The maximum guarantee amount varies depending on the program area, from 100,000 EUR to 1.25 million EUR. The program is available on an ongoing basis.

To receive a default guarantee, applicants must meet certain legal and financial requirements. These include the company's registered office in Bremen, economically sound projects, and the provision of further collateral. Specific obligations also apply to borrowers and house banks, as well as regulations on aid.

The application procedure for the default guarantee is carried out either directly with Bürgschaftsbank or through the house bank, depending on the chosen program area. The applicant's creditworthiness is checked, and the compatibility of the project with the objectives of economic promotion is assessed.

The default guarantees of Bürgschaftsbank Bremen are based on the General Guarantee Conditions for Loans (ABB) of the German Bürgschaftsbanken. In addition, relevant banking supervisory and anti-money laundering regulations, as well as European state aid regulations, apply.