SME SUPPORT

 SME Factoring
Scheme

The objective of this scheme is to provide cash-flow to entrepreneurs via the factoring of their credit sales invoices through Non-Bank Financial Institutions. This scheme is available to enterprises with annual turnover of up to Rs50 million and at an interest rate of 3.9%.

Terms and conditions are as follows:

• Enterprises should hold a Valid BRN with at least 1 year of operation.
• Enterprises involved in manufacturing and other productive sectors, agro-industry, specific services.
• Applicable to invoices relating to Sales on a Business to Business basis.
• Entrepreneur should be of Mauritian nationality and majority shareholding held by Mauritian.

Leasing Equipment Modernisation
Schemes (LEMS)

The aim of LEMS is to enable enterprises, including SMEs, to enhance their competitiveness by investing in productive equipment, upgrading production infrastructure and reducing costs.

The LEMS schemes are available to enterprises with an annual turnover of up to Rs1.5 billion. They are provided by the leasing companies mentioned further below at a reduced interest rate ranging between 2.5% and 3.35% per annum, as follows:

Terms and Conditions are as follows:

• The enterprise should operate in manufacturing, agro-industry or other productive sectors
• The company should be incorporated in Mauritius.
• Majority Shareholding should be held by Mauritian(s).
• Hold a valid BRN with at least 1 year of operation.
• If business forms part of a group, annual turnover of the group will be used.

For the acquisition of second hand equipment, individual valuation report should be provided by a professional

Export Factoring Scheme

The objective of this scheme is to provide cash-flow to entrepreneurs via the factoring of their export sales invoices. This scheme is available to exporting companies with an annual turnover not exceeding Rs250 million at an annual interest rate of 3% for dollar and 2.75% for Euro.  The maximum amount is USD400,000 or EUR 400,000 but not exceeding the equivalent of Rs15M.

Terms and Conditions are as follows:

• Companies incorporated in Mauritius with a least one year in operation
• Majority Shareholding should be held by Mauritians
• Operating in Manufacturing, Agro-Industry and other productive sectors. Hygienic goods included in list of eligible products
• Export Credit Insurance required

Micro Entity
Financing Scheme

The purpose of this scheme is to enable Micro and Small Entities with a turnover not exceeding Rs10 million to have access to finance at competitive rates to lower down their cost of production, improve their productivity, become more sustainable and contribute to the creation of jobs

Corporate Guarantees
to banks

The ISP Ltd will issue corporate guarantee to banks to enable them to grant loans to companies affected by COVID-19.

Terms and Conditions are as follows:

• Application rejected by Banks are referred to ISP for further consideration
• Total Amount: Payable on a case to case basis