APS Jet Pack

Move Your Business Forward, Don’t Look Back.

Over the years, we have assisted our business clients during trying times and we are committed to continue doing so.

Due to the COVID-19 crisis, we know you may be experiencing difficulties with cash flow, the continuation of your day-to-day operations and more.

“WE ARE HERE FOR YOU” to help you go up, over and beyond this unprecedented time with the APS Jet Pack.

What is the APS Jet Pack?

The APS Jet Pack allows eligible local businesses, of any size, to apply for a working capital loan that can go up to €10 million for SMEs and up to €25 million for large businesses (with prior approval from the Malta Development Bank). The working capital loan amount depends on the size, wage bill and turnover of the business amongst other things.

Eligible working capital costs include, but are not limited to:

1. Salaries and rental costs

2. Energy, water and fuel costs

3. Unpaid invoices due to decrease in revenues

4. Acquisition of material and stock for continuation of business

5. Expenses directly related to contracts which were cancelled or postponed due to the current situation

6. Maintenance costs

7. Expenses related to real estate projects

Features

  • Rate of the loan depends on the size of the business and the duration of the loan and always includes the guarantee fee. It starts from 2.75% fixed for a loan of 4 years duration for an SME. In any other case (longer duration and / or larger business size), the rate will not exceed 2.25% per annum over the Bank Base Rate currently established at 2.25%
  • Commitment to pass on to the customer any additional Governmental aid, such as interest rate subsidy, once this becomes available
  • No additional charges and fees
  • Repayment period of up to four years, which can be extended to six years, on a case-by-case basis (terms and conditions apply)
  • Six-month moratorium on both capital and interest repayments (possibly extended to one year on a case-by-case basis).

Click here for more information on the MDB COVID-19 Guarantee Scheme.

What's next?

Want to know more on how APS Bank can help you navigate these difficult times and take your business forward?

Please contact your Relationship Manager directly to discuss options, eligibility and application modalities.

Alternatively, customers can contact APS Contact Centre on 2122 6644 (Monday to Saturday 8:00 to 20:00) or complete the contact form here.

The APS Jet Pack benefits from the support of the MDB COVID-19 Guarantee Scheme launched by the Malta Development Bank through the provision of a Bank Guarantee for €350,000,000, covered by a Government guarantee issued by the Ministry of Finance.

Approved and issued by APS Bank plc, APS Centre, Tower Street, B’Kara BKR 4012. APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act 2018. The Bank is a participant in the Depositor Compensation Scheme established under the laws of Malta. Applications are subject to the Bank’s lending criteria and the Bank’s final approval. Terms and conditions apply and are available on request.


 

Address (Head Office): APS Bank, APS Centre, Tower Street, Birkirkara BKR 4012, Malta - Europe

Telephone: (+356) 21226644

 

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APS Bank will use the information provided within this form to process your request. For security and data confidentiality purposes it is not advisable to use this form to send sensitive data such as account numbers, account balances, login information and any other financial information that can identify a specific transaction. We will never ask you for this type of personal information through our website, social media or direct you to a web page that asks for this information. Please note that the Bank has revised the Data Privacy Policy. Kindly visit www.apsbank.com.mt/gdpr for further details.

Copyright © 2017 APS Bank plc
APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act 2018.