Loan with a grant or write-off — hybrid financing
Sometimes the cheapest financing comes from tying several sources into one: a cheap loan with a grant, or with a partial write-off. It's rare and hard to structure — which is exactly why it's our specialty.
What it is and who it's for
The hybrid model combines repayable and non-repayable financing within one project — for example, a cheap development loan tied to a grant, or to a partial write-off of capital. Structured well, it gives the lowest real cost of capital on the market.
It's for companies that qualify for the grant component (R&D, innovation, digitalization, export) and want to squeeze the most out of financing instead of picking one or the other.
Why it's hard — and why we do it
Combining public sources has a trap that catches most people out: state-aid stacking. The same cost financed from two preferential sources at once — for example, a loan with a de minimis BGK guarantee tied to a grant for the same expenses — can breach the allowed public-aid and de minimis limits (the €300k / 3-year threshold). The result: a rejected application, or a clawback later.
We structure it so the components don't collide: we split the costs, watch the limits, and sequence the order in which aid is granted. It's meticulous, technical work — exactly the kind others either don't want to do, or can't.
What it looks like with us
- Fit diagnosis — we check whether your profile genuinely allows tying a loan to a non-repayable component. If not, we say so plainly and stick with the simpler solution.
- Structuring — we design the arrangement of sources, split the eligible costs, and watch public-aid and de minimis limits.
- Through to signing — we file the complete set of applications, coordinate the institutions, and carry the case through to disbursement.
Frequently asked questions
What is hybrid financing?+
A combination of a cheap loan with a grant or write-off within one project — matched to give the lowest real cost of capital without breaching public-aid limits.
Can any company combine a loan with a grant?+
No — you need to qualify for the grant component (R&D, innovation, digitalization, export). We check this specifically during the diagnosis.
What is the de minimis limit?+
The de minimis aid threshold is €300,000 over a 3-year period. Combining sources for the same costs can breach it — which is why it has to be planned in advance.
Why should I do this with you instead of on my own?+
Because a mistake in state-aid stacking costs you a rejected application or a clawback. It's a narrow, technical specialty — our everyday work.
See also
We'll check whether, in your case, a loan can be tied to a grant or write-off.
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