SELF-EMPLOYED COVID-19

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SELF-EMPLOYED COVID-19
Incentive Category : Funding

Description

The Central Guarantee Fund (Tamwilcom) is launching a guarantee mechanism for bank loans intended for self-employed entrepreneurs known as ” Covid-19 Auto-Entrepreneurs Guarantee”.

Organization

Central Garantee Fund (CGF)

Detail

A guarantee mechanism for bank loans allocated by banks to eligible self-entrepreneurs who fulfil the following conditions:

  • Payment of necessary non-deferred expenses;
  • Amount: The equivalent of three months of turnover calculated on the basis of the last tax return with a ceiling of MAD 15,000;
  • Duration: 3 years including one year of deferment;
  • Interest rate: 0%;
  • Securities: None;
  • Guarantee commission: MAD 100 excluding tax.

Eligibility

Self-employed entrepreneurs who have not benefited from the Damane Oxygen guarantee and who satisfy the following conditions :

  • Be registered in the auto-entrepreneurs register;
  • Must not be in a situation of suspension of payments (in reference to book V of the Commercial Code);
  • Have made a tax return dating for less than one year and no later than April 30, 2020.