MeAssist
MeDirect’s COVID assistance package in collaboration with the Malta Development Bank (MDB), duly supported by the Ministry of Finance.
MeAssist

MeDirect is willingly participating in the MDB’s Guarantee Scheme to support its corporate customers. In these trying times, the Bank has already offered different arrangements to its corporate and retail borrowing customers to assist them in their working capital and operational requirements which were brought about by COVID-19 market disruptions. These have so far included capital and interest moratoria, temporary overdraft facilities and easing of financial covenants, amongst others.

Our objective remains to support our customers to surpass these abnormal conditions.

MeAssist allows eligible corporate customers to apply for a working capital facility in the form of a loan, with the amount dependant on the size of the entity as per table below:

Business TypeMax Loan AmountAdditional Amount, subject to MDB Approval
SMEs€2,000,000€8,000,000
Large Corporates€5,000,000€20,000,000


The loan amount depends on a number of factors including the business turnover for 2019 and the total salary costs.

All applications are subject to the Bank’s standard lending criteria and final approval from the Bank.

MeAssist remains available until 31st December 2020.

Product Features
  • Loan facility can be repaid within a minimum term of 18 months to a maximum period of 4 years. The Bank may consider a loan term of 6 years, on a case by case basis, and subject to additional terms and conditions. Loans exceeding settlement over more than 6 years are not covered by MeAssist.
  • A six-month moratorium can be considered as part of the repayment arrangements. The moratorium can be extended to a maximum period of 12 months, on a case by case basis.
  • Applicable processing and commitment fees are being fully waived.
  • Interest margin will depend on the size and maturity of the business, loan term and other factors, within a range of between 2.75% and 3.75%.
  • Interest margin is based on the 3-month Euribor, which is currently floored at 0%.
  • The MDB Guarantee fee will also be added to the interest margin. MDB Fee is dependent on term of repayment.
  • Any further Government-led assistance in the form of interest rate subsidies, will be eventually adopted for MeAssist facilities, once these become available.
Further details on the MDB COVID-19 Guarantee Scheme can be viewed from MDB’s website. Click here for more information.
Eligible Costs
Eligible costs which can be financed under MeAssist include:
  • Salaries of employees
  • Rental and utilities expenses
  • Unpaid invoices due to decrease in revenues
  • Acquisition of material and stock for continuation of business
  • Expenses directly related to contracts which were cancelled or postponed due to the current situation
  • Maintenance costs

Contact Us

If you consider your circumstances to be eligible under MeAssist, please contact your Relationship Manager or send us an email on lending@medirect.com.mt.

The MeAssist Scheme benefits from the support of the MDB COVID-19 Guarantee Scheme launched by the Malta Development Bank through the provision of a Bank Guarantee for €350,000,000, covered by a Government guarantee issued by the Ministry of Finance.