Guarantees from Thüringer Aufbaubank (TAB Guarantee Program)

The TAB Guarantee Program is aimed at commercial enterprises and self-employed individuals in Thuringia who lack sufficient collateral for bank loans. The goal is to promote economically important projects in the Free State, particularly investments and working capital financing.

The program promotes the securing of loans, mobile asset hire-purchase, and mobile asset leasing contracts for investments, as well as loans for financing working capital. Loans already disbursed or refinancings are not subsequently guaranteed. It does not cover specific sectors but is broadly designed for commercial enterprises and liberal professions.

Funding is provided as a guarantee against default from Thüringer Aufbaubank, with a maximum guarantee amount of 3 million euros. The guarantee rate is regularly a maximum of 80 percent of the loan, and 60 percent for hire-purchase and leasing contracts. Under the Ukraine Assistance Program, the rate can be up to 90 percent. Loan terms vary depending on the purpose.

Applicants must submit a viable business concept and provide proof that sufficient collateral for unguaranteed bank loans is lacking. Projects must not start before the application is submitted. Important provisions regarding loan collateral, EU state aid law, and reporting obligations must be observed.

The application for a guarantee must be submitted in the prescribed form to Thüringer Aufbaubank. The application must be accompanied by a letter of intent from the lender and a certificate in tax matters. The decision on the guarantee is made unanimously by the Guarantee Committee of Thüringer Aufbaubank.

The TAB Guarantee Program is based on a specific guideline from Thüringer Aufbaubank, which is in line with the Thuringian State Budget Code and the respective budget laws. Compliance with state aid law is ensured by adhering to relevant EU regulations and communications.