Before embarking on any business creation, takeover or expansion project, entrepreneurs must ask themselves how they are going to finance their investment.
In this regard, government aid may represent a considerable advantage for a business. However, it should never form the basis of a financing plan.
In addition, the success and continuity of a business depends on healthy financial management.
This section provides comprehensive information on the different forms of bank and non-bank financing available for your business, accounting and financial management and the main types of government aid available.
Please note that the European Commission has set up a transparency website which lists all the individual state aid measures, within the meaning of the European provisions on the subject, in excess of EUR 500,000 and which have been granted by the Member States of the European Union.
The Mutual for Loan Guarantees (MCAC)
Obtaining credit is often difficult because real or personal available collateral often appears to be insufficient. The credit asked may be refused and this way, the project is uncertain. However, the Mutual for Loan Guarantees can helpby being guarantor within Luxembourg banks. The loan guarantee provided by the MCAC is an important tool to support the entrepreneur in his application for a bank loan.
The MCAC helps primarily member companies of the Chamber of Commerce. All the investments in order to create or develop a business for which the applicant has a recognized professional qualification or projects which have a real chance of economic viability and a clear economic interest are eligible for a loan guarantee.
The applicant must submit his business plan including mainly personal information (education, work experience), information about the company (legal form, company objective) and the investment project (motivation, cost and detailed description) and financial information (financial plan, contingency plan, financial statements).
For further information, please refer to the brochure, available under "Publications".
In addition, counselors from the Department of Business Creation and Development can provide you useful information and practical details on the different financing and state aid.
For further information about the Mutual, we invite you to contact:
Mutual for Loan Guarantees
7, rue Alcide de Gasperi
L -1615 Luxembourg - Kirchberg
Tel. : (+352) 42 39 39-339
Fax. : (+352) 42 39 39-824
E-mail : firstname.lastname@example.org