Decarbonization and Circular Economy Credit Program

Power your company's sustainable transformation

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Decarbonization and Circular Economy

What is it and how it works Eligible projects Financing Costs and deadlines

What is it and how it works

Why should you choose this Program?

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Innovate with the right support This Credit Program supports innovative projects that help address social, economic and environmental challenges, while promoting your company's sustainable growth.

Reduce your energy footprint Support projects that reduce energy consumption and encourage the use of renewable energy sources, making your company more efficient, modern, and competitive.

Up to €100 million available This Credit Program provides access to a total funding amount of up to €100 million, allocated on a first-come, first-served basis to applications approved by the Program’s Managing Entity.

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Access requirements Each project must be submitted together with a technical report³ and a declaration of responsibility issued by an entity listed in the annex to the protocol. View requirements

Requirements Disponível para Micro, Pequenas e Médias Empresas (PME) certificadas pelo IAPMEI, com sede em território nacional e que cumpram os requisitos de elegibilidade. View requirements

Innovate with the right support This Credit Program supports innovative projects that help address social, economic and environmental challenges, while promoting your company's sustainable growth.

Access requirements Each project must be submitted together with a technical report³ and a declaration of responsibility issued by an entity listed in the annex to the protocol. View requirements

Reduce your energy footprint Support projects that reduce energy consumption and encourage the use of renewable energy sources, making your company more efficient, modern, and competitive.

Requirements Disponível para Micro, Pequenas e Médias Empresas (PME) certificadas pelo IAPMEI, com sede em território nacional e que cumpram os requisitos de elegibilidade. View requirements

Eligible projects

Which projects are eligible?

To finance energy efficiency and circular economy projects

Innovative and efficient equipment

Replace existing equipment with more innovative and energy-efficient solutions.

Renewable energy and circular strategies

Invest in renewable energy sources for self-consumption or in circular economy strategies applied to any stage of the product or service lifecycle.

Consumption monitoring and optimization

Implement monitoring, control and management systems to optimize energy and raw material consumption.

Greater resource efficiency

Redesign and integrate processes to improve efficiency in the use of resources.

Eligible investments for the tourism sector

Tourism companies may also finance building envelope improvements to reinforce thermal insulation and enhance energy efficiency.

Not eligible operations

Which operations are not eligible?

Operations intended for other purposes

Financial restructuring

Operations intended for financial restructuring or the consolidation of existing loans.

Refinancing

Operations intended to repay or replace financing previously agreed with Millennium, even if under different terms, are not eligible.

Acquisition of certain assets

Operations intended for the acquisition of financial assets, land, real estate, vehicles or second-hand goods are not eligible.

Financing

See all terms and conditions

Type of operation

Medium- and long-term loans.

Use of credit

Available for up to 24 months after the date of the loan agreement, with a maximum of 5 drawdowns

Investment completion period

The investment must be completed within a maximum period of 24 months after the date of the loan agreement.

Repayments

Fixed, equal and deferred installments, payable monthly, quarterly, twice a year or annually.

Collateral

Credit operations carried out under this program benefit from a first-demand autonomous guarantee provided by the Mutual Guarantee Companies (SGM), covering up to 80% of the outstanding capital at any given time.

Millennium may require additional guarantees as part of its credit analysis and decision process. During the term of the financing agreement, Millennium may request additional guarantees from the companies.

Combination of operations

Companies may submit more than one operation, either through the same financial institution or through different credit institutions. The total amount of all operations may not exceed the maximum amount set per company. The same expense cannot be considered eligible in different operations.

Interest rate

TAE

7.621%

TAN

5.751%

Effective Annual Rate (TAE) of 7.621%, calculated based on a Nominal Annual Rate (TAN) of 5.751% – 6-month Euribor (simple arithmetic average of the daily rates quoted in the month prior to the interest calculation period, rounded to the nearest thousandth, which in this example corresponds to February 2024, at 3.901%), plus a spread of 1.85%. This example considers a bank loan of €250,000, with a term of 72 months and an 18-month capital repayment grace period, with repayment through equal and consecutive monthly capital instalments, plus the corresponding interest, including the Management Fee. The TAE (Effective Annual Rate) was calculated in accordance with Decree-Law no. 220/94 of 23 August.

All applications are subject to credit risk analysis and approval by Millennium bcp. The eligibility decision under the Credit Program is the responsibility of the Managing Entity.

This document does not constitute a contractual offer.

Term

Up to 10 years

Grace period

Up to 24 months

Maximum amount per company

€2,000,000

Fees

Up to 1.00% per year on the outstanding financing amount

All costs and charges associated with obtaining the financing will be borne by the beneficiary company, including costs related to property valuations, registrations and deeds, taxes or fees, and other similar expenses.

For financing with a fixed interest rate, Millennium bcp will pass on to companies any costs incurred when the fixed rate is ended early, either due to full or partial early repayment or when the Customer asks to switch from a fixed to a variable rate.

Guarantee commission of up to 1%, fully subsidized, charged monthly, quarterly, twice a year or annually, in advance.

The guarantee commission will be calculated and charged according to the frequency of capital repayments, based on the beginning of each period and taking into account the expected outstanding balances of the loans and the respective guarantee.

Interest subsidy

Interest will be subsidized by Banco Português de Fomento up to 1.5% and will be settled in arrears, according to the frequency of capital repayments.

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