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Portugal Energy Resilience Fund.

The next step is to secure mutually guaranteed financing to support the cash flow of those companies most exposed to rising energy costs and to accelerate the transition to more efficient and sustainable production models.

Financial support for those who feel the cost of energy most keenly.

The Portugal Energy Resilience Fund is a credit facility with a mutual guarantee from the Mutual Counter-Guarantee Fund (FCGM), managed by Banco Português de Fomento. It is aimed at companies operating in Portugal whose energy costs have risen significantly.

The credit is intended exclusively for cash flow or working capital requirements, helping to mitigate the immediate impact of rising costs whilst, at the same time, financing the transition to more energy-efficient solutions.
República Portuguesa | Banco Português de Fomento
República Portuguesa | Banco Português de Fomento
€600 million
Overall allocation - first come, first served
up to €2.5 million
Maximum amount per company
70% - 80%
Outstanding principal guarantee coverage (FCGM)
31 Dec. 2026
Term of validity extendable by a further 6 months
Eligibility

Who can apply?

Companies operating in Portugal, ranging from SMEs to large enterprises, which can demonstrate that they have been affected by rising energy or raw material costs and which meet all the other requirements of the scheme.

≥ 20%
Proportion of energy costs in total production costs (in 2025 or at the time of application)
≥ 20%
Increase in the CMVMC over the last 3 months compared with the same period last year
Funding available

How much you can finance?

Micro
€100,000
Small
€500,000
Medium
€1,500,000
Small Mid Caps - Mid Caps - Large
€2,500,000

Fund conditions.

Funding available
Up to €600,000,000 (first come, first served)
Purpose
To support the liquidity (cash flow/working capital) of companies with greater exposure to energy costs, by promoting the transition to more energy-efficient and sustainable production models
Validity
Until 31 December 2026
Target Segment

SMEs, small mid-caps, mid-caps and large companies operating in Portugal are eligible under the terms of the scheme.

 

Companies must demonstrate that energy costs account for 20 per cent or more of their production costs, or that the cost of goods sold and materials consumed (CMVMC) has increased by at least 20 per cent over the last three months compared with the same period last year.

Mutual Guarantee

Stand-alone first-call guarantee (FCGM):

- 80% of outstanding principal (Micro, Small and Medium-sized enterprises)

- 70% of outstanding principal (Small Mid-Caps, Mid-Caps and Large enterprises)

 

Cap rate: maximum default coverage ratio of 20% of the total amount of disbursements at any given time

Colateral
The Customer is not required to provide any form of additional guarantee or security (whether personal or in the form of assets). A promissory note signed solely by the company may be accepted as an enforceable instrument.
Modality

- Medium- and Long-Term Investment Loans

- Current Accounts

Maximum Amount Per Beneficiary

- Micro: up to €100,000

- Small: up to €500,000

- Medium: up to €1,500,000

- Small Mid-Caps, Mid-Caps and Large Enterprises: up to €2,500,000

 

(Subject to the availability of State aid ceilings.)

Maturity
Up to 5 years
Waiting period | Use
Up to 12 months after the contract is signed
Amortisation of Capital
Regular amortisation (monthly, quarterly, half-yearly or annually) or repayment at maturity, in the case of current account transactions
Interest
Bearing the cost of the beneficiary and settled in arrears, in accordance with the repayment schedule for the transaction.
Interest Rate

Index: EUR3M | EUR6M (zero floor)

 

Maximum spread: depending on the internal credit rating, with a minimum of 0.50% and a maximum of 1.50%

Charges and Costs

Exemption from commissions and fees normally charged by the bank

 

Taxes, fees and expenses associated with the contract (valuations, registrations, deeds and other similar expenses) borne by the company

Mutual Guarantee Commission

A guarantee fee calculated monthly on outstanding guaranteed balances and charged to the bank in arrears on a half-yearly basis

 

The fee charged to the bank will be passed on to the customer

 

Minimum: 0.20% | Maximum: 0.45%

State aid

Eligibility under the de minimis scheme

 

For SMEs with no available de minimis ceiling, there may be an alternative scheme (MEOP)

Obligations of Banco Montepio
Failure by Banco Montepio to comply with its obligations regarding eligibility criteria and its duties of identification and due diligence renders the guarantee provided by the FCGM invalid

Ready for the next step?

For more information about the Portugal Energy Resilience Fund, please contact us or visit one of our branches.
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