Incentives & Schemes

Quasi Equity Loan Scheme

Aim of Scheme

Providing equity and quasi-equity to SMEs

Maximum Investment

75% of project cost up to a ceiling of Rs 500,000 as follows:

  • 49% in the form of quasi-equity, namely Redeemable Preference Shares or debentures with an appropriate coupon rate
  • 26% in the form of an equity loan to enable the promoter/s to buy shares in the company

Interest Rate

  • Quasi-Equity: Coupon rate ranging from 7.9 % to 13.0 % depending upon time of repayment
  • Equity Loan: Repo Rate + 3 % p.a

Repayment Period

  • Quasi-Equity: Exit at the end of five years with a conversion clause at our option
  • Equity Loan: The loan along with unpaid interests accrued thereon shall be repayable after five years. Interest will be payable yearly after a moratorium of one year.

Security

    • Quasi-Equity: None
    • Equity Loan:
      (i) General Floating Charge on promoter’s/borrower’s assets
      (ii)Decreasing Term Assurance
      (iii) Pledge of the shares


Eligibility

  • SMEs involved in the manufacturing, agri-business, tourism, trade or service sectors and holding an acceptable business plan
  • Companies registered with the Registrar of Businesses

Exit Strategy

  • Quasi-Equity: Exit will be subject to repayment according to the coupon rate of the quasi-equity. In case of non payment at the end of 5 years, quasi-equity will be convertible into ordinary shares.
  • Equity Loan: The equity loan shall be repayable along with unpaid interest accrued at the end of five years.


SUPPORT AGENCY
Development Bank of Mauritius (DBM)
La Chaussee St,
Port-Louis
Tel: (230) 203 3600
Fax: (230) 208 8498
Email: dbm@intnet.mu 
Website: www.dbm.mu

Australia

June 1995
Australian Chamber of Commerce and Industry (ACCI)

China

April 1997
China Council for the Promotion of International Trade (CCPIT) - Beijing
China International Economic and Trade Arbitration Commission - Shanghai
November 1998
CCPIT Guangdong Sub-Council
September 2008
CCPIT Qingdao
May 2007
CCPIT Qingdao

Austria

September 2014
Austrian Federal Economic Chamber

France

September 1996
l’Assemblée des Chambres Françaises de Commerce et d’Industrie (ACFCI)

India

November 1985
Federation of Indian Chambers of Commerce and Industry (FICCI)
May 1996
Confederation of Indian Industry (CII)
June 1995
Tamil Nadu Chamber of Commerce and Industry
January 2004
India International Trade Center
May 2004
Seafood Exporters Association of India
October 2005
Seafood Exporters Association of India

Kenya

January 2011
The Kenya National Chamber of Commerce and Industry (KNCCI)

Madagascar

November 2004
Fédération des Chambres de Commerce, d’Industrie, d’Artisanat et d’Agriculture de Madagascar

Malaysia

August 1994
The National Chamber of Commerce and Industry of Malaysia
June 2005
Malaysian Associated Indian Chambers of Commerce and Industry

Mozambique

September 2012
Chamber of Commerce of Mozambique)

Pakistan

October 2004
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI)

Russia

May 2007
Chamber of Commerce and Industry of the Russian Federation

Sri Lanka

May 2004
National Chamber of Commerce of Sri Lanka

Tanzania

January 2011
The Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA)

Thailand

August 2004
The Federation of Thai Industries (F.T.I)
February 2013
TUSKON

Turkey

August 2014
DEIK (Foreign Economic Relations Board)
TOBB (The Union of Chambers and Commodity Exchanges of Turkey)

Réunion

June 1995
Chambre of Commerce and d’Industrie de la Réunion
March 2002
L’Association pour le Développement Industriel de la Réunion

Seychelles

November 2005
Seychelles Chamber of Commerce and Industry
April 2014
Seychelles Chamber of Commerce and Industry

Djibouti

August 2008
Chamber of Commerce of Djibouti

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  • Quasi Equity Loan Scheme
  • Quasi Equity Loan Scheme