Loans Available from Banco Interatlântico for Entrepreneurs, Small Businesses and Investors

Banco Interatlântico, one of Cape Verde's leading financial institutions and a member of the Caixa Geral de Depósitos Group, has been consolidating its position in the market through innovative solutions tailored to the needs of entrepreneurs, small businesses and investors. Recognised for its solid governance and alignment with global standards, the bank offers a wide range of credit products, with an emphasis on financing lines geared towards sustainable growth and support for small and medium-sized enterprises (SMEs).

Among the main offers is the credit line co-financed by the European Investment Bank (EIB), which provides more than one million escudos to finance national companies. This initiative, a pioneer in Cape Verde, integrates the Sustainable Development Goals (SDGs), promoting investments that respect principles such as gender equality, renewable energies and decent work. For more information on this credit line, please visit Island Express.

In addition, Banco Interatlântico also offers a microcredit line, aimed at micro-entrepreneurs and small businesses, with simplified conditions and fast approval, allowing access to credit in less than an hour for clients with a domiciled salary and an effort rate of less than 35%. This product is ideal for financing cash, factors of production or small-scale investments. More details can be found at Banco Interatlântico's official website.

Eligibility criteria vary depending on the type of credit, but include requirements such as proven repayment capacity and, in some cases, real guarantees. To apply for funding, interested parties must submit specific documentation, such as a commercial certificate, identification of the promoters and, where applicable, economic feasibility studies.

With these solutions, Banco Interatlântico reaffirms its commitment to Cape Verde's economic development, promoting innovation, sustainability and financial inclusion.

Description of the credit programmes offered by Banco Interatlântico

Credit line co-financed by the European Investment Bank (EIB)

Banco Interatlântico, in partnership with the European Investment Bank (EIB), has launched an innovative credit line for small and medium-sized enterprises (SMEs) in Cape Verde. This programme is a pioneer in the country as it includes sustainability criteria in line with the United Nations Sustainable Development Goals (SDGs).

Conditions of Admissibility

To access this credit line, companies must:

• Be classified as SMEs according to the criteria defined by the Inter-Atlantic Bank.
• Demonstrate economic viability and repayment capacity.
• Present real credit guarantees, depending on the amount requested.
• Comply with the requirements for alignment with the SDGs, such as positive environmental impact or the promotion of sustainable practices.

Programme characteristics

• Available AmountThe credit line has a total value of 10 million euros, 50% of which will be financed by the EIB and the remaining 50% by Banco Interatlântico.
• Refund DeadlineUp to 120 months (10 years).
• Interest RateVariable, with a minimum of 6.5%.
• Purpose: Support investments in strategic sectors such as tourism, agriculture and technological innovation.

How to apply

Those interested must present the following documents:

1. Commercial certificate or company incorporation document.
2. Identifying the promoters.
3. Detailed business plan, including income and expenditure forecasts.
4. Demonstration of how the project contributes to the SDGs.

More information can be found on the official Interatlantic Bank.

Microcredit line

Banco Interatlântico's microcredit line is designed to support micro-entrepreneurs and co-operatives in Cape Verde, promoting the development of small businesses and local initiatives.

Conditions of Admissibility

• Non-profit legal entities, partnerships or other organisations made up exclusively of micro-entrepreneurs can apply.
• Applicants must demonstrate that the funding requested will result in repayment capacity.

Programme characteristics

• Eligible Investments:
• Treasury support.
• Financing production factors.
• Investment in fixed assets or business expansion.
• Maximum AmountVariable, depending on risk analysis and repayment capacity.
• Interest RateCompetitive and adjusted to the client's profile.

How to apply

The necessary documents include:

1. Commercial Certificate or equivalent document for co-operatives.
2. Identifying the promoters.
3. Proof of the project's viability.

For more information, visit the Interatlantic Bank.

Sustainable Development Credit Programme

This programme focuses on funding projects that promote environmental and social sustainability, in line with global sustainable development goals.

Conditions of Admissibility

• Companies that present projects with a positive impact on the environment or the local community.
• Projects must be aligned with the SDGs and demonstrate clear benefits for Cape Verdean society.

Programme characteristics

• Available AmountMore than one million Cape Verdean escudos.
• Interest RateCompetitive, adjusted to the risk of the project.
• Refund DeadlineUp to 10 years.
• Specific criteriaProjects must include practices such as energy efficiency, emissions reduction or social inclusion.

How to apply

Those interested should submit:

1. Detailed sustainability plan.
2. The company's legal documentation.
3. Evidence of a positive impact on the environment or society.

More information can be found in the Island Express.

Credit Line for Startups and Innovation

Banco Interatlântico also offers a specific credit line for start-ups and innovative companies, with the aim of fostering entrepreneurship and innovation in Cape Verde.

Conditions of Admissibility

• Start-ups registered in Cape Verde with less than five years of activity.
• Innovative companies with technological solutions or disruptive business models.
• Ability to demonstrate economic viability and growth potential.

Programme characteristics

• Available AmountDepending on the project, subject to risk analysis.
• Interest RateVariable, with preferential conditions for technology start-ups.
• Refund DeadlineUp to 7 years.
• Additional Benefits: Access to mentoring and business consultancy programmes.

How to apply

Candidates must present:

1. Business plan.
2. Proof of innovation or technology used.
3. The company's legal documentation.

For more details, see the S&D Consultancy.

Tax Incentives and Technical Support

In addition to credit lines, Banco Interatlântico, in collaboration with the Cape Verdean government, offers tax incentives and technical support for investors and entrepreneurs.

Conditions of Admissibility

• Companies investing in priority sectors such as tourism, agriculture and renewable energies.
• Investors from the Cape Verdean diaspora wishing to invest capital in Cape Verde.

Programme characteristics

• Tax Incentives: Tax reductions for projects aligned with the SDGs.

Banco Interatlântico's Credit Programmes for Entrepreneurs, Small Businesses and Investors

Credit line co-financed by the European Investment Bank (EIB)

Banco Interatlântico, in partnership with the European Investment Bank (EIB), is offering an innovative credit line worth 10 million euros, half of which will be financed by the EIB and the other half by the bank's own capital. This line is designed to support Cape Verdean small and medium-sized enterprises (SMEs), promoting sustainable economic development. (Island Express)

Conditions of Admissibility

To access this credit, companies must:

• Be classified as SMEs according to the criteria established by the Inter-Atlantic Bank.
• Demonstrate repayment capacity, based on detailed financial analyses.
• Present real credit guarantees, as required by the bank.
• Fulfilling sustainability requirements in line with the United Nations Sustainable Development Goals (SDGs), a pioneering feature of this credit line in Cape Verde. (CV Consultancy)

Programme characteristics

• Amount Available: Up to 10 million euros.
• Refund deadline: Up to 120 months (10 years).
• Interest rate: Variable, with a minimum of 6.5%.
• Purpose: Support investments in strategic areas such as infrastructure, innovation and sustainability.

How to apply

Those interested should:

1. Contact Banco Interatlântico through official channels, such as the website Interatlantic Bank or in person at the branches.
2. Submit the necessary documentation, including:

• Commercial Certificate or equivalent document.
• Identifying the promoters.
• Detailed business plan, showing the viability of the project.

3. Submit the application for assessment, which will be analysed on the basis of the eligibility and sustainability criteria.

Microcredit line

Banco Interatlântico also offers a micro-credit line aimed at micro-entrepreneurs and co-operatives. This programme aims to support small businesses, promoting financial inclusion and local entrepreneurship. (Interatlantic Bank)

Conditions of Admissibility

• Non-profit legal entities, partnerships or other organisations made up exclusively of micro-entrepreneurs can apply.
• Projects must demonstrate the ability to generate sufficient revenue to ensure repayment of the loan.

Programme characteristics

• Eligible Investments:
• Treasury support.
• Financing factors of production.
• Investments in fixed assets or expansions.
• Required documents:
• Commercial Certificate or equivalent document.
• Identifying the promoters.

How to apply

1. Submit the application through the branches of Banco Interatlântico.
2. Present a detailed investment plan, including income and expenditure forecasts.
3. Provide the documents required for credit analysis.

Sustainable Development Programme

This credit line, integrated with the Sustainable Development Goals (SDGs), is a pioneering initiative in Cape Verde. The programme seeks to finance projects that promote economic growth in line with environmental and social sustainability. (CV Consultancy)

Conditions of Admissibility

• Companies that present projects with a positive impact in areas such as renewable energy, energy efficiency, waste management or social development.
• Demonstration of compliance with the sustainability criteria defined by the EIB and the Inter-Atlantic Bank.

Programme characteristics

• Amount Available: Included in the credit line co-financed by the EIB.
• Purpose: Encouraging sustainable business practices.
• Benefits: Competitive interest rates and access to technical advice.

How to apply

1. Identify the alignment of the project with the SDGs.
2. Present a business plan that shows the sustainable impact of the investment.
3. Submit the credit application for analysis.

Financing Solutions for Startups and Innovation

Banco Interatlântico, in collaboration with government programmes such as the Entrepreneurship and Innovation Support Programme (PAEI), offers specific solutions for start-ups and innovative companies. (S&D Consultancy)

Conditions of Admissibility

• Start-ups and innovative companies, especially in strategic sectors such as technology, tourism and agriculture.
• The need to present an innovative and viable business model.

Programme characteristics

• Subsidies and Credit Guarantees: They reduce the financial risk for startups.
• Technical support: Includes consultancy and business training.
• Partnerships: Easier access to credit through collaborations with local financial institutions.

How to apply

1. Apply for the PAEI through the Institute for Business Support and Promotion (Proempresa).
2. Submit required documentation, such as a business plan and commercial registration.
3. Submit the request for technical and financial evaluation.

Diaspora Investment Credit

Banco Interatlântico recognises the importance of the Cape Verdean diaspora in financing local businesses and offers specific incentives to attract these investors. (Island Express)

Conditions of Admissibility

• Cape Verdeans living abroad who wish to invest in local businesses.
• Projects that contribute to the development of priority sectors such as tourism and agriculture.

Programme characteristics

• Tax Incentives: Tax cuts for diaspora investments.
• Logistical support: Facilitating the investment process.
• Technical Consultancy: Guidance on the local market and business opportunities.

How to apply

1. Contact Banco Interatlântico for detailed information on the incentives available.
2. Present an investment plan, including the source of the funds and the expected impact.
3. Submit the necessary documents for analysis and approval.

This report provides a comprehensive overview of the credit programmes offered by Banco Interatlântico, highlighting the eligibility conditions, features and application processes for each financial solution.

Eligibility Conditions for Loans Provided by Banco Interatlântico

General Requirements for Access to Business Credit

Banco Interatlântico offers a variety of credit solutions aimed at entrepreneurs, small and medium-sized enterprises (SMEs) and investors, with specific eligibility conditions. To access these credit lines, applicants must fulfil the following general criteria:

• Classification as an SMECompanies must be classified as Small and Medium-sized Enterprises (SMEs), according to the criteria established by the Inter-Atlantic Bank and in line with international standards.
• Refund capacityApplicants must demonstrate the financial capacity to repay the loan, based on detailed financial analyses and cash flow projections.
• Real Credit GuaranteesReal guarantees are required, such as real estate, financial assets or other forms of collateral, depending on the credit line requested.
• Compliance with local and international standardsCompanies must comply with the legal and regulatory standards in force in Cape Verde, as well as the additional requirements imposed by the European Central Bank, given that Banco Interatlântico is part of the Caixa Geral de Depósitos Group.

More information can be found at Banco Interatlântico's official website.

Specific Criteria for Lines of Credit Co-financed by the European Investment Bank (EIB)

This credit line, designed to support business investment in Cape Verde, has specific eligibility conditions:

• Sustainability and Social ImpactProjects must be aligned with the United Nations' Sustainable Development Goals (SDGs), which is a pioneering requirement in Cape Verde.
• Duration and Interest RatesLoans can be for up to 120 months, with a minimum variable interest rate of 6.5%.
• Available AmountThe total funding available is 10 million euros, of which 5 million are financed by the EIB and the remaining 5 million come from the Interatlantic Bank's own capital.

Details of this line of credit can be found in the article in the Island Express.

Eligibility for the Microcredit Line

Banco Interatlântico's microcredit line is designed to support micro-entrepreneurs and small business initiatives. Eligibility conditions include:

• Beneficiary ProfileNon-profit legal entities, partnerships of people or organisations made up exclusively of micro-entrepreneurs can apply.
• Eligible InvestmentsEligible projects are those aimed at:
• Treasury support;
• Financing factors of production;
• Investments in fixed assets or expansions.
• Required documentationApplicants must present the Commercial Certificate or equivalent document, as well as the promoters' identification documents.

For more information, see the official Interatlantic Bank.

Requirements for Financing Solutions for Startups and Innovation

Banco Interatlântico also offers specific programmes for start-ups and innovative companies, with the aim of encouraging entrepreneurship and innovation in Cape Verde. Eligibility conditions include:

• Innovative Business PlanApplicants must submit a detailed business plan that demonstrates the innovative nature of the project and its potential economic impact.
• Credit GuaranteesReal guarantees or adequate collateral are required to ensure repayment of the credit.
• ScalabilityProjects must demonstrate potential for growth and job creation, contributing to the country's economic development.

Further information can be found at S&D Consultancy's guide to business financing.

Admissibility Criteria for Diaspora Personal and Investment Loans

In addition to business solutions, Banco Interatlântico offers personal loans and investment programmes aimed at the Cape Verdean diaspora. Conditions include:

• Residence and Connection with Cape VerdeApplicants must be residents or have a proven link to Cape Verde, such as owning property or businesses in the country.
• Maximum Amount and TermThe maximum amount can be up to 50% of the project's appraised value, and in exceptional cases it can be up to 70% if the guarantee is reinforced. The repayment period is up to 5 years, renewable annually.
• Purpose of the loanThe loans are intended to finance projects in strategic sectors such as tourism, agriculture and renewable energies.

More details are available at Banco Interatlântico's official website.

Differences from Existing Content

Although some information on eligibility conditions has been previously covered, this report introduces additional and specific details on:

1. General Requirements for Access to Business CreditThis point has not been detailed in previous reports and is a new and comprehensive addition.
2. Admissibility Criteria for Diaspora Personal and Investment LoansThis segment provides specific information on personal loans and programmes aimed at the diaspora, which have not been explored previously.
3. Requirements for Financing Solutions for Startups and InnovationAlthough the topic has been mentioned, this section provides a more detailed and distinct analysis of the programme's eligibility criteria and objectives.

For more information on Banco Interatlântico's credit programmes, visit the official website.

Procedures for Applying for Loans from Banco Interatlântico de Cabo Verde

Required documentation

To begin the process of applying for a loan with Banco Interatlântico, it is essential to gather the required documentation, which varies according to the type of loan requested. Below are the most common documents:

• Identification of PromotersCopy of the valid identification document of the legal representatives or individual entrepreneurs.
• Commercial Certificate or Equivalent DocumentProof of registration of the company, confirming its legality and operation in Cape Verde.
• Detailed Business PlanIt should include income and expenditure forecasts, market analyses and financial projections that demonstrate the viability of the project.
• Proof of GuaranteesDocuments proving the existence of real credit guarantees, such as real estate, financial investments or other assets.
• Financial ReportsRecent financial statements, including balance sheet and profit and loss account, to analyse repayment capacity.

This set of documents is essential for the bank to assess the risk profile and viability of the loan. More information can be found at Banco Interatlântico's official website.

Stages of the Application Process

The credit application process at Banco Interatlântico follows a structured sequence, guaranteeing transparency and efficiency. The steps include:

1. Initial EnquiryThe entrepreneur or investor should contact a Banco Interatlântico branch to obtain detailed information on the credit products available and the applicable conditions.
2. Application SubmissionAfter gathering the necessary documentation, the client must submit the credit application, accompanied by the business plan and proof of guarantees.
3. Credit AnalysisThe bank carries out a detailed assessment of the application, analysing the viability of the project, repayment capacity and alignment with the criteria of the chosen credit programme.
4. Approval and ContractingIf the application is approved, the customer is notified to formalise the credit agreement, which includes the agreed terms and conditions.
5. Disbursement of FundsOnce the contract has been signed, the funds are made available according to the established schedule.

This structured approach allows customers to clearly understand each stage of the process and the necessary requirements. For more details, visit Interatlantic Bank.

Application Evaluation Criteria

Banco Interatlântico uses strict criteria to evaluate credit requests, ensuring that resources are allocated responsibly. The main criteria include:

• Project viabilityThe business plan must demonstrate that the project is sustainable and capable of generating sufficient income to cover the costs and repayment of the loan.
• Refund capacityThe financial analysis of the company or individual entrepreneur is fundamental to assessing their ability to fulfil their financial obligations.
• Real guaranteesThe presentation of real credit guarantees is an essential requirement to mitigate the risk associated with financing.
• Alignment with Programme ObjectivesIn the case of specific credit lines, such as those co-financed by the European Investment Bank (EIB), it is necessary to demonstrate alignment with objectives such as sustainable development.

These criteria ensure that funding is awarded to projects with a high potential for success and positive impact. More information is available at Island Express.

Customer support and follow-up

Banco Interatlântico offers continuous support to clients throughout the application process and after the loan has been granted. This support includes:

• Personalised ConsultancyAccount managers help clients to identify the credit programme best suited to their needs and prepare the necessary documentation.
• Post-grant follow-upAfter the funds have been disbursed, the bank maintains regular contact with clients to monitor the progress of the project and offer additional support if necessary.
• Online ToolsBanco Interatlântico offers digital tools, such as credit simulators and internet banking platforms, to make credit management easier.

This focus on customer support is an important differentiator for Banco Interatlântico, guaranteeing a positive and successful experience for entrepreneurs and investors. See more information at the bank's official website.

Differences from Existing Content

Although some information on credit application procedures has been covered in previous reports, this segment introduces additional and specific details, such as:

• Required documentationThis section details the documents required for different types of credit, which has not been explored in depth previously.
• Application Evaluation CriteriaIt presents a more detailed analysis of the criteria used by the bank to approve credit applications, including the viability of the project and alignment with specific objectives.
• Customer support and follow-upThis approach to ongoing support has not been mentioned in previous reports and is a new and relevant addition.

For more information on credit application procedures, visit the Interatlantic Bank.

Conclusion

Banco Interatlântico de Cabo Verde offers a wide range of credit solutions for entrepreneurs, small businesses and investors, including programmes co-financed by the European Investment Bank (EIB), microcredit lines, initiatives for startups and innovation, and specific incentives for the Cape Verdean diaspora. These lines of funding aim to foster sustainable economic development, financial inclusion and innovation, and are often aligned with the United Nations' Sustainable Development Goals (SDGs). Eligibility conditions vary depending on the programme, but include criteria such as classification as an SME, repayment capacity, presentation of real guarantees and compliance with sustainability standards.

Those interested in accessing these solutions must follow a structured process that includes submitting detailed documentation, such as business plans and proof of guarantees, and rigorous assessment by the bank. Programmes such as the line co-financed by the EIB, with a total amount of 10 million euros, and the microcredit line for micro-entrepreneurs, stand out for their accessibility and positive impact on the Cape Verdean business fabric. In addition, the ongoing support offered by Banco Interatlântico, including personalised consultancy and digital tools, reinforces the institution's commitment to supporting the success of funded projects. More information can be found at Banco Interatlântico's official website.

These programmes represent a significant opportunity for entrepreneurs and investors looking for competitive financing in line with sustainable practices. However, success depends on adequate preparation, including drawing up sound business plans and complying with the required criteria. It is therefore recommended that applicants explore available resources, such as technical advice and detailed information on official channels, to maximise the chances of approval and ensure the positive impact of their investments.