The Mutualité de Cautionnement of the Chamber of Commerce applies its guarantees to all Luxembourg companies affected by the floods

Mutualité de Cautionnement of the Chamber of Commerce

Following the heavy rains of July 14 and 15, 2021, which led to flooding across the country with strong consequences for economic activity, the Mutualité de Cautionnement of the Chamber of Commerce decided that its guarantees could be granted to Luxembourg companies affected by the floods.

The main objective of the Mutualité de Cautionnement of the Chamber of Commerce is to compensate for the lack of guarantees of small and medium-sized Luxembourg companies by facilitating access to bank financing.

The Mutualité de Cautionnement of the Chamber of Commerce guarantees special support for companies affected by the floods:

• Special instrument to help Luxembourg SMEs affected by the floods to better manage their liquidity problems
• The Mutualité de Cautionnement guarantee can be up to 250,000 euros per file without however exceeding 50% of the loan amount
• Guarantee request to be made by the banker of the company concerned
• Processing of the warranty request within 48 hours
• Cost of the guarantee reduced from 0.50% to 0.25%

In 2020, the Mutualité de Cautionnement had put in place a simple and fast procedure allowing the processing of bond requests within 48 hours to support companies affected by the Covid-19 crisis. The Covid-19 guarantee of the Mutualité de Cautionnement remains in force to help companies during the post-pandemic recovery.

Thanks to its great responsiveness, the Mutualité de Cautionnement has positioned itself with its partners as a key player in terms of support for Luxembourg companies.

Please find the English version of the annual report below

For any questions relating to bank guarantees, please contact:

Mutualité de Cautionnement of the Chamber of Commerce
Phone : (+352) 42 39 39- 600
E-mail : covid19@houseofentrepreneurship.lu