Guarantees from Bürgschaftsbank Sachsen – Guarantee without Bank (BoB)

This funding program targets start-ups and small and medium-sized enterprises (SMEs) in the Free State of Saxony. Its aim is to facilitate access to bank loans for these groups by providing default guarantees, thereby enabling their investment and growth projects. The program supports medium-sized businesses and is designed to replace missing or insufficient loan collateral.

The program supports a wide range of investments, business successions, and working capital financing by providing guarantees. It covers the financing of tangible assets as well as necessary operating expenses and establishes clear rules for cost reimbursement.

Financing is provided in the form of a default guarantee, covering a significant portion of the loan amount. The amount of the guarantee and its term vary depending on the type of project and the company phase. Bürgschaftsbank Sachsen offers flexible conditions to meet the different needs of applicants.

To avail of the guarantee, applicants and the house bank must meet certain conditions and requirements. These include submitting a viable business concept, providing collateral, and adhering to comprehensive information and due diligence obligations towards Bürgschaftsbank and the counter-guarantors. These regulations ensure the proper processing of the guarantee and protection against misuse of funding.

The application procedure for a guarantee is carried out directly through Bürgschaftsbank Sachsen GmbH, with the house bank playing a central role in facilitating financing. It involves submitting the application, a comprehensive review of the project, and the creation of a guarantee offer, which forms the basis for further credit negotiations with the house bank.

The funding program is based on the General Guarantee Provisions for Loans (ABB) of the German guarantee banks, which form the framework for granting default guarantees. These provisions are decisive for the granting and processing of guarantees and regulate the obligations of both applicants and the participating banks.