In Madagascar, insufficient collateral is one of the main obstacles to access to finance for SMEs. Aware of this problem, and anxious to contribute to the economic development of SMEs / SMI, the heads of companies set up a guarantee fund: SOLIDIS GUARANTEE.
Created on 10 December 2008, they are a guarantee fund approved by the Central Bank of Madagascar. Their aim is to provide an additional guarantee to credit granted by the lending bank / financial institution to promote your business projects. By granting their guarantee to loans to SMEs, they want to help facilitate access to SMEs.
Their clients are banks, companies or professionals who use their guarantee to make credit operations more reliable or secure contracts, projects and transactions.
Their Support:
In order to guarantee a project, they offer project supporters in 4 steps:
Moral and technical guarantee of a grouping:
As a member of a professional association or association, the project sponsor asks his or her supervisory body to assert his or her professional know-how and qualifications in order to obtain their loan guarantee.
Financial expertise:
After having established its Business Plan, the project leader is welcomed by their project managers. The latter will undertake the assessment of the viability of the project and the validation of its feasibility.
If necessary, they assist the project leader in setting up a financing plan. To do this, they mobilize the most appropriate financial tools for the project. If necessary, the project proponent will be referred to a support organization able to help him better structure his Business Plan.
Guarantee and bank intermediation:
The file is validated by an engagement committee made up of company directors. The latter decides collectively whether or not to grant the financial guarantee of SOLIDIS.
The guarantee granted helps the mobilization of financial partners - mainly banks, but also micro-credit organizations - who are asked to finance the project.
Post-funding follow-up:
After the intervention, the project leader can continue to benefit from their support in the rest of his project.
Thanks to the regrouping of the associations within the MIARY Federation, the project bearer has the possibility to create strong links with the actors of other sectors. It will also be able to connect with other project sponsors who have been supported by SOLIDIS.
Principle and mechanism of the surety
Thanks to the participation of each company benefiting from the guarantee fund, they pool the risks. Each entrepreneur benefits from the solidarity of all and develops his activity in complete independence.
The mutual guarantee fund consists of:
The mutual guarantee fund shall be mobilized, in accordance with precise terms in the event of non-repayment, up to the amount of the arrears and within the limit of the amount of the mutual guarantee fund available.
Any amount subsequently recovered from the arrears shall form part of the mutual guarantee fund.
Thus, they offer opportunities at least on 2 levels:
