EU helps small business by guarantees

The program “Planet business” invites you to Gozo, the second largest island of the Maltese archipelago. Our source, mark Scicluna Bartoli, will explain how local small businesses get access to the European aid program. We are talking about the mechanism, which is called “Initiative of Small business".

14.Jun.17 1:03 PM
By Christina Orlina
Photo Toinnov.com

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Mark Scicluna Bartoli : “In the Bank of Valletta we maintain a very close relationship with the European Investment Fund. The partnership allows easier access to Maltese enterprises to credit our Bank because we receive guarantees from the EU Fund”.

One of the customers of the Bank of Valletta is a local company Technological Innovations, recognized as the most innovative on the island of Gozo. It is engaged in the production of modern Windows – aluminum and plastic. Products meet all European standards of environmental safety. The company managed to purchase the most advanced equipment thanks to a loan from Bank of Valletta.

Guarantee for a loan the company received through the program “Initiative “Small business”
Margie Saliba, Director of Technological Innovations: “We were looking for funding to develop the business faster.”

Today, the company sells Windows throughout the Maltese archipelago, it has a market in other EU countries. There are plans to increase export volumes, which means new jobs in Gozo.

Margie Saliba, Director of Technological Innovations: “Today, we employs 50 people. By 2018 we intend to double the state”.

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