Recital 20

(20) Aid comprised of guarantees, including de minimis risk finance aid taking the form of guarantees, should be considered as transparent if the gross grant equivalent has been calculated on the basis of safe-harbour premiums laid down in a Commission notice for the type of undertaking concerned (15). This Regulation should set out clear rules that take into account both the amount of the underlying loan and the duration of the guarantee. Setting out clear rules should help to simplify the treatment of guarantees of short duration securing up to 80 % of a relatively small loan, where losses are sustained proportionally and in the same way by the lender and the guarantor, and net recoveries generated from the recuperation of the loan from the securities given by the borrower reduce proportionally the losses borne by the lender and the guarantor. This rule should not apply to guarantees on underlying transactions that do not constitute a loan, such as guarantees on equity transactions. 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 validity of this Regulation, the guarantee should be considered as having a gross grant equivalent not exceeding the de minimis ceiling where (i) the guarantee does not exceed 80 % of the underlying loan; (ii) the amount guaranteed does not exceed EUR 2 250 000; and (iii) the duration of the guarantee does not exceed 5 years. The same applies where (i) the guarantee does not exceed 80 % of the underlying loan; (ii) the amount guaranteed does not exceed EUR 1 125 000; and (iii) the duration of the guarantee does not exceed 10 years.

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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.