CapAccess is a co-financing product that works alongside banks to support mid-sized enterprises in funding their investment programmes, through a mezzanine financing facility that complements the bank loan. It covers the co-financing of productive investment programmes through a joint credit structure combining senior bank financing with junior mezzanine financing.
Who is eligible and what projects qualify?
CapAccess is open to enterprises incorporated under Moroccan law with at least three years of operating history, reporting annual turnover between MAD 10 million and MAD 500 million, that are financially sound and not subject to collective proceedings, with investment programmes to finance. All sectors are eligible, except for real estate promotion, extractive industries, fossil fuels, gambling, tobacco, alcohol, and activities that raise ethical concerns.
What financing is covered and how does it work?
CapAccess operates as a co-financing mechanism paired with a bank loan, dedicated exclusively to funding investment programmes. Land costs must not exceed 25% of the programme, while studies and initial working capital needs are limited to 10%, subject to justification.
What are the financial terms?
The financing takes the form of a joint credit, with the bank's share representing at least two-thirds of the total and the CapAccess share covering up to one-third. The maximum maturity is 12 years, with an interest rate of 5.5% excluding tax on the CapAccess share (as of 2024). Security is shared between the parties, with repayment priority granted to the bank.
How do I apply?
CapAccess co-financing applications are submitted through the enterprise's bank.
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