454 COMPETITION LAW IN TOURISM The beneficiaries were micro, small and medium enterprises (SME)106, located in Portugal, which would comply cumulatively with the following requirements: • have a positive net position in the last approved balance sheet; companies with a negative net position on the last approved balance sheet may access the line if they demonstrate this situation has been normalised in an interim balance sheet approved until the date of the operation; • have no unremedied incidents with banks and the Mutual Guarantee System on the issuing date of the loan agreement; • have their situation normalised with the Tax Administration and Social Security on the date of contracting the financing; and • present a specific statement with (a) the commitment to maintain permanent jobs, throughout the term of the loan in relation to the proven number of employees as of 1 February 2020; or (b) proof of being subject to the lay-off regime, issued by the Social Security Institute. All four notified guarantees on loans schemes applied to the entire Portuguese territory, including Azores and Madeira, within the following budget: • The scheme “Aid to companies active in the touristic sector in the form of guarantees” would provide guarantees for credit lines up to 900 million euros, of which 300 million euros would be targeted to micro and small enterprises and 600 million euros to medium enterprises and mid-caps; • The scheme “Aid to restaurants and similar companies in the form of guarantees” would provide guarantees for credit lines up to 600 million euros, of which 270 million euros for micro and small enterprises, 321 million euros for medium companies and small midcaps and 9 million euros would target regular midcaps; • The scheme “Aid to extractive/manufacturing companies in the form of guarantees” would provide guarantees for credit lines up to 1.3 billion euros, of which 400 million euros would have micro and small enterprises as their target and 900 million euros would target medium enterprises and midcaps; and • The scheme “Aid to travel agencies, touristic animation and event organisation and similar companies in the form of guarantees” would provide guarantees 106 As set out in Recommendation 2003/361/EC of the European Commission, as well as Small Mid Cap and Mid Cap, as set out in Decree Law no. 81/2017, of 30 June.
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