The BOV Family Business Success is for family businesses registered with Family Business Office and that would like to transfer part or full share of capital or capital ownership from parents to their children or among siblings through a takeover of the relevant family business, a reduction in the issued share capital, the payment and distribution of a dividend and the repayment  of any shareholder loans due by the relevant family business, according to the press statement.

The maximum loan amount is €750,000 at a competitive variable interest rate and can be taken for a period of between one and ten years, according to the press release says  

The Malta Development Bank will partially guarantee each loan transaction under an allocated fund of €10m in order to enhance the access to finance through a highly reduced level of collateral requirement.   

“Succession and transfer of ownership are crucial milestones for any family business, and tailored financing products are essential for a smooth transition and growth of the enterprise,” said Albert Frendo, BOV Chief Business Development Officer. “Bank of Valletta has always been at the forefront in assisting local businesses to flourish through the provision of financing solutions to suit their specific needs and through expertise drawn from years of partnering with SMEs and Family Businesses. We are proud to be the first bank in Malta to launch this innovative product, offering affordable finance to family businesses planning their future.”

The post BOV introduces new product for family businesses first appeared on The Malta Business Weekly.

As the scholastic year is nearing its end, the cost of tuition fees influences the choice of many students on their further studies.

Therefore, BOV believes that getting an education loan can help an individual to choose the right path, without giving up on the best available choice and giving to students the freedom to choose the best education that fits their future goals.

Nevertheless, BOV warns that all loans are subject to credit approval by the bank and a credit agreement, the press release says.

The post BOV announces offering education loan first appeared on The Malta Business Weekly.

“The advantage of a home loan with Bank of Valletta is that we provide a holistic solution to everyone’s banking requirements,” Edward Grech, Chief Officer Consumer Finance said.

The revamped home loans sport enhanced features, advantageous interest rates and waived and reduced charges, BOV says. The bank is also offering loans for furnishing homes or increasing the energy efficiency of homes.

“Our customer service is second to none, we take the time to listen to our customers and match a product to their particular requirements. No customer is the same as another, and circumstances vary for each individual. That is why the Bank of Valletta is the best choice for home loans. Our highly skilled staff provide a top-notch service together with guidance formulated on customers’ individual circumstances,” the finance chief added.

The post BOV revamps its home loan portfolio first appeared on The Malta Business Weekly.