Who are we?

The Tunisian Guarantee Company (SOTUGAR) is a public interest company meant to reinforce the mechanisms set up for the development and promotion of the SMEs during the most decisive phases of their life (Creation, Development, Innovation and Restructuring).

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Financial Restructuring Guarantee Fund ...

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Each year, the annual report contains the financial statements of the guarantee funds ...

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Our Mission

It is a mission of general interest in favour of the economic development.

SOTUGAR’s mission is to contribute, in a significant way, to the development of the SME ….

PRODUCTS

The Guarantee System of loans granted to Small and Meduim Enterprises (SMEs) in manufacturing industries and services and shareholdings of Capital Risk Investment Companies and Common Funds of Risk Investment (SICAR & CFRI) in their capital.

Established by article 24 of the law n° 2002-101 of 17 December 2002, the finance law for the year 2003, the Credit Guarantee System is intended to guarantee certain categories of loans granted by the credit institutions to small and medium sized enterprises in industry and services and certain categories of shareholdings of Capital Risk Investment Companies and Common Funds of Risk Investment (SICAR & CFRI) in their capital.
SOTUGAR manages the CGS under an agreement concluded with the Ministry of Finance which provides details on the management, conditions and methods by which this CGS operates.

1- Eligible Activities  for  the CGS:

  • Activities of the manufacturing industries annexed to the decree n° 94-492 of February 28, 1994, determining the lists of the activities depending of the sectors covered by articles 1,2,3 and 27 of the  incentive  investments code as modified and completed by the subsequent texts,
  • Activities of computer sciences, services related to software production, services of research and development, services of study, counsel, assistance, maintenance services and repair of vehicles, environment, leisure, agricultural mechanization,
  • Eligible Projects for the Incentive plan for Innovation in Information Technology (RITI).

2- Size of the concerned investments

Can profit from the interventions of the CGS, investments initiated by small and medium industrial and services enterprises in one of the activities mentioned above and which:

  • The amount of investment does not exceed 5 million dinars, including the working capital for the creation projects,
  • The amount of global investment including the fixed assets should not exceed 5 million dinars for the extension projects.
3- Eligible loans and shareholdings for  the CGS:
  • Medium and long term loans
  • Short-term loans granted to enterprises whose term of entry into activity does not exceed  3 years,
  • financing under a leasing contracts,
  • Shareholdings of Capital Risk Investment Companies (SICAR), Common Funds of Risk Investment (CFRI) and Fonds d’Amorçages (FA).
4- Formes et modalités d’intervention du Système de Garantie :
  • Refinancing of the half and taking in charge the treasury interests of the other half of principal unpaid amounts of the loans and guarantee a return on a proportion of shareholdings in capital accepted to the guaranty in accordance with  the distribution of support of the irrecoverable amounts of the loans and shareholdings between the CGS and the intervening institution, during the period of pursuit and collect disputed loans,
    The treasury interests and a return mentioned above are determined on the basis of the unpaid amount of the credits for the credit institutions and of the shareholdings of SICAR, CFRI and FA, and of the average rate of the BCT,
  • Taking in charge a proportion going from 50% to 75% of the irrecoverable amounts of the credits and shareholdings guaranteed according to the following below :
    • For   projects initiated in regional development areas, New promoters, FA and  New Technology of Information (RITI):
      –  75 % by CGS,
      –  25% by Bank or SICAR or CFRI or FA .
    • For the others projects :
      – 60% by CGS,
      – 40% by Bank or SICAR or CFRI.
    • For financing under a  leasing contracts:
      – 50% by CGS,
      – 50% by leasing company.
  • Taking in charge 75% of expenses of pursuit and collect disputed loans to projects located in regional development areas and 50% for projects located in others areas.

Guarantee Mechanism is intended to ensure the rescheduling of short, medium and long term loans granted by the credit institutions to the enterprises operating in the sectors of industry and services related to industry under the pilot program of their financial restructuring.

1- Eligibility Criteria: Are eligible for guarantee of GMFS, SMEs who meet the following criteria:

  • Having obtained agreements granting of bonus supplied with reserves of financial restructuring within the framework of the upgrading program,
  • Having profited of no portion of premiums FODEC within the aforesaid program,
  • Including the program for the financial restructuring is approved by the competent departments of the Ministry of Industry, Energy and SMEs ,
  • Do not be classified among the companies having economic difficulties,

2- Size of the concerned investments: the investment, whose cost including fixed assets does not exceed 5MD, can profit from the interventions of the GMFS.

3- Eligible categories of loans for guarantee: short, medium and long term loans can profit from the interventions of the GMFS.

4- Forms and methods of the intervention of GMFS:

  • Refinancing of the half and taking in charge the treasury interests of the other half of principal unpaid amounts of the accepted loans to the guaranty in accordance with the distribution of support of the irrecoverable amounts of the credits between the GMFS and the credit institution, starting from the beginning of judicial procedures against the beneficiary of the credit,
  • Taking in charge 50% of the irrecoverable amounts of the credits and of expenses of pursuit and collect disputed loans.

Within the framework of the Energy Efficiency Project in the Industrial Sector financed by the FEM through the World Bank, l’Agence National pour la Maîtrise de l’Energie (ANME) has entrusted the management of the GFEE to SOTUGAR. The GFEE is intended to guarantee loans granted by the credit institutions to the Industrial Enterprises or the Energy Service Companies (ESCOs) to finance the Energy Efficiency measures.

1- Eligible enterprises for  the GFEE: Are eligible for guarantee of the GFEE, medium and large industrial enterprises who meet the following criteria:

  • Operating in the industrial sector for at least two years,
  • Wishing to realize Energy Efficiency measures with the use of ESCOs and whose total cost is higher or equal to fifty thousand dollars, and for whose investment time of return is lower or equal to three years

2- Forms and methods of the intervention of  the GFEE:

  • Refinancing of the half and taking in charge the treasury interests of the other half of principal unpaid amounts of the accepted loans to the guaranty in accordance with  the distribution of support of the irrecoverable amounts of the credits between the GFEE and the credit institution, starting from the beginning of judicial procedures against the beneficiary of the credit,
  • Taking in charge 75% of the irrecoverable amounts of the credits and of expenses of pursuit and collect disputed loans. The compensation of the final loss will happen at the latest three years starting from the date of the refinancing (payment of the advance).

Guarantee Funds of Credit Export is intended to guarantee loans granted by banks to the enterprises operating in the sectors of industry and services related to industry.

1- Eligible Activities for the GFCE:

  • Activities of the manufacturing industries annexed to the decree n° 94-492 of February 28, 1994, determining the lists of the activities depending of the sectors covered by articles 1,2,3 and 27 of the incentive investments code as modified and completed by the subsequent texts,
  • Activities of services related to industry.

Guarantee Funds of Credit Export is intended to guarantee loans granted by banks to the enterprises operating in the sectors of industry and services related to industry.

1- Eligible Activities for the GFCE:

  • Activities of the manufacturing industries annexed to the decree n° 94-492 of February 28, 1994, determining the lists of the activities depending of the sectors covered by articles 1,2,3 and 27 of the incentive investments code as modified and completed by the subsequent texts,
  • Activities of services related to industry.

2- Size of the concerned investments

Can profit from the interventions of the GFCE, investments initiated by small and medium industrial and services enterprises in one of the activities mentioned above and which:

  • The amount of investment does not exceed 5 million dinars, including the working capital for the creation projects,
  • The amount of global investment including the fixed assets should not exceed 5 million dinars for the extension projects.

3- Eligible loans for the GFCE:

  • Advance financing on export operations,
  • Discount credit.

4- Forms and methods of the intervention of GFCE:

  • Refinancing of the half and taking in charge the treasury interests of the other half of principal unpaid amounts of the accepted loans to the guaranty in accordance with the distribution of support of the irrecoverable amounts of the credits between the GFCE and the bank, starting from the beginning of judicial procedures against the beneficiary of the credit,
  • Taking in charge 60% of the irrecoverable amounts of the loans and 50% of expenses of pursuit and collect disputed loans.

Within the framework of the agreement for the concerted management of migration
and solidarity development between the Tunisian Republic and the French Republic,
the French Development Agency (AFD) entrusted the management of the FGJC to
SOTUGAR, the FGJC is intended to guarantee medium and long-term loans granted
to young first-time creators and business buyers in the sector of manufacturing
industries and services linked to industry.
1- Activities eligible for the guarantee:
 Activities of the manufacturing industries annexed to the decree n ° 94-
492 of February 28, 1994, fixing the lists of the activities pertaining to
the sectors envisaged by articles 1,2,3 and 27 of the code of incentives
to investments as modified and supplemented by subsequent texts,
 Industry related service activities.
2- Size of the investments concerned:
Can benefit from the interventions of the FGJC creation projects promoted by
young first-time creators in the sector of manufacturing industries and services
related to industry and whose investment cost does not exceed 300 thousand
dinars.
3- Credits eligible for the guarantee: Medium and long term credits.
4- Forms and methods of intervention of the FGJC:
 Refinancing of half and assumption of the cash interest of the other half
of the principal unpaid amounts of credits accepted in the guarantee in
accordance with the distribution of assumption of uncollectible amounts
of credits between the FGJC and the bank, and this , upon initiation of
legal proceedings against the beneficiary of the credit.
 Support for 75% of uncollectible loan amounts,
 Assumption of 50% of the costs of legal proceedings and debt recovery.