Direct Guarantee (BoB) Open
The Direct Guarantee (BoB) program in Rhineland-Palatinate supports business founders who lack the necessary collateral for a bank loan. It offers a direct guarantee for investment and working capital loans to enable the financing of business start-ups, thereby strengthening the regional economy.
Who is Funded
The Direct Guarantee (BoB) program targets business founders in the commercial sector, skilled crafts, and liberal professions in Rhineland-Palatinate. It aims to replace missing or insufficient loan collateral to enable these founders access to necessary investment and working capital loans, thereby promoting the establishment of viable businesses.
What is Funded
The Direct Guarantee (BoB) program supports investment loans as well as working capital and guarantee credits for business founders. The guarantee covers capital and certain legal enforcement costs. Loans for repaying unguaranteed loans (with exceptions) and for financial restructuring are not funded.
Type and Scope of Funding
Funding is provided in the form of a direct loss and maximum amount guarantee, which can cover up to 80 percent of the loan amount, but not exceeding EUR 150,000. The guarantee terms vary depending on the purpose of the loan.
Conditions and Requirements
Applicants must meet certain legal and economic requirements to receive a guarantee, including a viable business model and the obligation to disclose economic circumstances. Special conditions apply to EU state aid rules and cooperation with the house bank.
Application Procedure
The application for the Direct Guarantee (BoB) is submitted to Bürgschaftsbank Rheinland-Palatinate GmbH, ideally with the involvement of a house bank. The procedure includes the assessment of the project and creditworthiness by the house bank and the guarantee bank, which can also submit the application digitally.
Legal Basis
The Direct Guarantee (BoB) program is based on the General Guarantee Terms for Loans (ABB-Kredit) of German guarantee banks. It is also subject to the state aid regulations of the European Commission and banking supervisory requirements such as the Banking Act (KWG).
Funding Overview
Maximum Amount:
€150,000
Deadline:
Always open
Open Until:
Ongoing
Award Channel:
Demand Driven Scheme
Region:
Rhineland-Palatinate (Germany)
Funding Stages:
Planning, Implementation
Funding Provider
Program Level: Regional
Funding Body: Bürgschaftsbank Rheinland-Palatinate GmbH, State of Rhineland-Palatinate, Federal Government
Managed By: Bürgschaftsbank Rheinland-Palatinate GmbH
Additional Partners: Credit institutions (House banks)
Website: Bürgschaftsbank Rheinland-Pfalz