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Convertible loans and the new Invest funding guideline

The new Invest funding guideline is out! It applies to applications from 06.02.2023 and includes some relief for convertible loans. They are supported with a purchase subsidy amounting to 25% of the issue price (nominal value & premium). The conversion must already be provided for in the loan agreement and must take place within 24 months of the date of the approval notice. The investment must be at least €10,000. The other requirements for the subsidy apply as usual: The loan agreement may only contain standard market clauses. This applies in particular to the interest rate (no more than 10% p.a.), the term, the discount (max. 30%) and the cap (at least the valuation of the last financing round). The purchase subsidy is only paid out after the conversion. Converted interest is not eligible. The minimum holding period of 3 years only runs from the date of conversion.

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