Guarantees from the Thuringia Guarantee Bank – BBT Classic
Securing loans for start-ups, investments, modernizations, rationalizations, market development, and succession in Thuringia through guarantee coverage of up to 80% of the credit risk. Applications can be submitted at any time through the applicant's primary bank.
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Grant criteria
Funding objective
Securing loans for business start-ups, investments in existing companies, as well as share purchases through the assumption of a default guarantee by the Bürgschaftsbank Thüringen.
Eligible expenses
- Business expansions
- Business relocations
- Modernizations
- Rationalizations
- Development costs
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Non-eligible expenses
- Refinancing/replacement of loans
- Rehabilitation projects
- Companies in difficulty
Eligible to apply
- Founders
- Companies
Funding requirements
- SMEs in the commercial sector or self-employed professionals
- Company location or investment site in Thuringia
- Personal and factual creditworthiness
- Loan must not be used for debt restructuring, rehabilitation, or refinancing
Documents required for application
- Curriculum vitae or professional career of the borrower/partner
- Project description/business concept
- Information on the business property or land register excerpt
- Overview of existing loans including conditions and securities
- Investment and financing plan
- Self-disclosure
- Declaration of already received de minimis aid
- Copies of rental/lease, leasing, and license agreements
- Tax certificate from the tax office
- Credit submission/opinion of the credit institution
- Copy of the KfW application/other funding application
- Complete annual financial statements for the last 3 fiscal years
- Data for the current fiscal year (e.g., business management evaluations)
- Articles of association and commercial register excerpt
- Company organizational chart
- Takeover/purchase contracts
- Profitability forecast (anticipated profit and loss statement)
- Liquidity plan for 12 months
- Credit report from Schufa for start-ups
- Information on existing credit insurance
- SEPA direct debit mandate form
Evaluation criteria
- Creditworthiness
- Economic viability of the project
- Credit rating
Description
BBT classic from the Thuringia Guarantee Bank offers small and medium-sized enterprises as well as freelancers in Thuringia a reliable default guarantee to secure financing up to EUR 2 million. With a guarantee rate of up to 80%, loans for start-ups, investments in business expansions, modernizations, rationalizations, franchise financing, working capital, market development costs, start-up costs, and business succession can be secured. The guaranteed risk sharing relieves house banks, improves credit ratings, and can lead to more favorable financing conditions – with terms of up to 15 years (or 23 years for commercial construction projects, 20 years for public program loans, and eight years for working capital financing). Applications can be submitted at any time easily through the house bank, ensuring planning security and flexibility for growth and competitiveness in Thuringia.
Eligible for funding are companies (SMEs) and freelancers with headquarters or investment locations in Thuringia who do not have sufficient financial collateral. Requirements include personal and factual creditworthiness as well as the exclusive use of the loan for eligible projects – refinancing, restructuring, and follow-up financing are excluded. Creditworthiness, the economic viability of the project, and credit rating are assessed. A comprehensive package of documents must be submitted with the application, including the resume or professional background of the economically involved parties, project description/business concept, investment and financing plan, annual financial statements, business management evaluations, credit report (Schufa) for start-ups, as well as proof of equity and already received de minimis aid. The guarantee assumption by the Thuringia Guarantee Bank provides reliable support for financing and strengthens the local medium-sized economy.
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