art_4__para_3

3. Aid comprised of loans shall be considered as transparent de minimis aid if: the beneficiary is neither subject to collective insolvency proceedings nor fulfils the criteria under its domestic law for being placed in collective insolvency proceedings at the request of its creditors. For large undertakings, the beneficiary shall be in a situation comparable to a credit rating of at least ‘B-’; and either the loan is secured by collateral covering at least 50 % of the loan and the loan amounts to either EUR 1 500 000 over 5 years or EUR 750 000 over 10 years; if a loan is for less than those amounts or is granted for a period of less than 5 or 10 years respectively, the gross grant equivalent of that loan shall be calculated as a corresponding proportion of the relevant ceiling laid down in Article 3(2) of this Regulation; or the gross grant equivalent has been calculated on the basis of the reference rate applicable at the time of the grant.

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Source: EUR-Lex (Cellar) · retrieved 2026-11-06 · Text as adopted (Official Journal); later amendments are not incorporated in this text.