The announcement was made this Wednesday by the Regional Secretary for the Economy, Rui Barreto, on the sidelines of a visit to the Autocrescente company, in the municipality of Ribeira Brava. As of today, companies that applied for and received financing from the Investe RAM Credit Line can submit applications for the second phase.
“The Institute of Business Development opened the reprogramming of the Investe RAM Line”, announced the government official, “we have already used 58 million euros of support in which we will allow companies that competed and received in the first phase, to double this amount to exhaust the 100 million euros, because that was the goal of creating the Line ”.
The person in charge of the Economy portfolio in Madeira stressed that it was better to have “a larger tank and the financed amount goes below than to have placed a smaller amount and then become insufficient”.
The reprogramming of the 100 million line is intended to continue to allow companies to have the necessary cash to solve their responsibilities in the near future.
Investe RAM is a universal line, open to micro, small and large companies. Rui Barreto guaranteed that this “was a very competitive and innovative line because it has all the conditions and rates subsidized by the Government and the possibility of converting the total amount financed in a lost fund”.
Alongside this line, the tender for the Program for Supporting Business Initiatives for micro and small companies in the Autonomous Region of Madeira was also opened today, the Inicie +. This SI to support the business fabric of the Region has available, as of this Wednesday, an allocation of 2,5 million euros.
The objective is to finance operations for the creation, expansion or modernization of micro and small companies. The support to be granted under this system takes the form of a non-refundable incentive and cannot exceed 50 thousand euros per project, twice the first phase.