APS Jet Pack launched for local businesses experiencing cash flow problems

The bank has launched another initiative in response to the COVID-19 crisis.

The APS Jet Pack is the survival kit for local businesses experiencing cash flow problems. The loan will provide working capital assistance to cover a number of costs – such as salaries and rental, energy and water bills and acquisition of material / stock for business continuity.

Features at a glance:

  • Up to €8 million depending on the size of the business.
  • No charges and fees from the bank.
  • Rate starting from 2.75% (inclusive of guarantee fee) fixed for a loan of 4 years duration for an SME.
  • Commitment to pass on to the customer any additional Governmental aid, such as interest rate subsidy, once this becomes available.
  • Repayment period of up to four years, which can be extended to six years on a case-by-case basis (terms and conditions apply).
  • Six-month moratorium on both the interest payments and capital repayments (possibly extended to one year on a case-by-case basis).

The APS Jet Pack benefits from the support of the MDB COVID-19 Guarantee Scheme launched by the Malta Development Bank through the provision of a Bank Guarantee for €350,000,000 covered by a Government guarantee issued by the Ministry of Finance.

APS Bank CEO Marcel Cassar says, “We continue to stand by our customers and reciprocate their trust in these challenging times.The APS Jet Pack is a testimony of this! We are here for them and it remains our priority to work with the Malta Development Bank and Government to provide our commercial customers with the best possible support.”

To discuss options, eligibility and application modalities, customers may reach out to their Relationship Manager. Alternatively, they can call the APS Contact Centre on 2122 6644 (Monday to Saturday 8.00 am to 8.00 pm) or email to the COVID-19 Business Response Team at covid19@apsbank.com.mt.

More information on APS Jet Pack can be found online.

This content was supplied by APS Bank

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