Business partner and Covid crisis ally

Since its creation, BIL has played a key role in financing the national economy and businesses based in the Grand Duchy.

This still rings true today: BIL is the partner of choice for all the men, women and entrepreneurs driving the local economy forward. The bank’s experts assist them with their day-to-day operations and future business goals.

From SMEs and major groups to start-ups, public bodies and financial institutions, BIL offers integrated services: traditional loans and structures, private debt, cash management, budget optimisation and leasing solutions.

BIL also helps entrepreneurs at every stage of the business life-cycle, from creating to selling a business.

1billion

the total amount of Covid moratoria at the height of the crisis in June 2020. To date, the majority of receiving clients were able to resume the normal course of their contractual payments.

2,800

Covid moratoria on business loans were granted during the crisis.

By businesses’ side during the crisis

Businesses of all sizes and from all sectors saw their activity partially or totally disrupted by the health crisis. For these business owners, BIL implemented special support to help them get through this difficult period and get their businesses growing again on healthy foundations. SMEs and start-ups don’t have the same cash flow as big groups, and so faced a serious risk of bankruptcy. The bank’s advisors contacted them immediately to assess the impact of the crisis on their activity and offer solutions adapted to their situation.

BIL decided to offer financial support to its business clients vulnerable to cash flow problems resulting from the crisis. The bank drafted an agreement with the ABBL (the Luxembourg’s Bankers’ Association) providing for a moratorium on business loans granted to Luxembourg companies before 18 March 2020, for a maximum of six months. BIL also worked with the Luxembourg government to launch a state-guaranteed loans system, to provide additional support to those driving the country’s economy.

The national economic fabric is solid and has shown great resilience. The total amount of moratoria granted reached one billion euros at the height of the crisis in June. To date, almost all clients who received a moratorium were able to resume the normal course of their contractual payments.

BIL partnering innovative businesses

Innovation isn’t decreed, it’s created. BIL remains loyal to entrepreneurs and has been supporting innovative Luxembourg start-ups and businesses for many years now.

The bank is partner to Technoport, Innohub and Paul Wurth InCub, the country’s leading incubators. Selected start-ups supported by the bank receive six-months free access to office space at The Office City co-working space.

The BIL Start programme provides business creators with access to different financing programmes, such as InnovFin. In 2015, BIL was the first bank in Luxembourg to have signed an agreement with the European Investment Fund to offer InnovFin loans to innovative Luxembourg SMEs. In five years, the bank has granted more than 90 loans with the InnovFin guarantee for a total of 68.2 million euros.

BIL is also the only bank stakeholder in the Digital Tech Fund launched in 2016 by the Ministry of the Economy.

95

InnovFin loans were granted between 2015 and 2020 to innovative Luxembourg businesses, for a total of 68.2 million euros.