Recital 18

(18) Aid comprised of loans, including de minimis risk finance aid taking the form of loans, should be considered transparent de minimis aid if the gross grant equivalent has been calculated on the basis of market interest rates prevailing at the time the aid is granted. To simplify the treatment of small loans of short duration, it is necessary to set out a clear rule that is easy to apply and takes into account both the amount of the loan and its duration. Loans that are secured by collateral covering at least 50 % of the loan and that do not exceed either EUR 1 500 000 and a duration of 5 years or EUR 750 000 and a duration of 10 years may be considered as having a gross grant equivalent not exceeding the de minimis ceiling. This is based on the Commission’s experience and given the inflation which has taken place since the entry into force of Regulation (EU) No 1407/2013 and the estimated development of inflation during the period of application of this Regulation. Given the difficulties in determining the gross grant equivalent of aid granted to undertakings that may not be able to repay the loan (for example, because the undertaking is subject to collective insolvency proceedings or because it fulfils the criteria under its national law for being placed in collective insolvency proceedings at the request of its creditors), this rule should not apply to such undertakings.

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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.