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- Starting a new business
  
  Starting a new business can be an exciting adventure, but it also requires careful planning and preparation. There are essential steps to take and key elements to consider when setting up a business and seeking financial support such as from the SNCI. Think about innovation, flexibility, a sound business plan, and efficient, straightforward financial management to get your start-up/SME off to the best possible start.
- Financing the modernization and expansion of your business
  
  To convince a potential financial organisation, such as the SNCI, to finance the modernisation and expansion of your business, you need to present a convincing case that demonstrates the possibility of a strong return on investment. Consider updating your business plan to reflect your new objectives and expansion plans, and clearly define your ambitions for modernisation and expansion, possibly even abroad.
- Transform your company into a more modern, creative entity
  
  When you want to transform your company into a more modern, creative, and solutions-oriented entity, several key factors come into play. You will need to clearly define your new corporate vision and the strategic objectives you wish to achieve. Identify the areas in which you want to modernise, focusing on the specific benefits that modernisation will bring to your business.
- Taking over or transferring a business
  
  If you are taking over a business and need to find new financing to support the acquisition and ensure the company's future development, there are several important points to which you should pay particular attention. Firstly, you need to carry out a thorough evaluation of the business you are considering taking over, determine the precise amounts of finance required, check contracts, agreements, current disputes, and other obligations that could affect the future financial health of the business. This will increase your chances of finding the finance you need to successfully complete the takeover and the future development of the business you have just acquired.
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Housing support vehicle Prolog S.A. now operational

In response to the housing crisis, five Luxembourg banks have created a support mechanism for the residential property sector with a view to increasing the supply of completed homes. Announced at a press conference on 22 May 2024 in the presence of Finance Minister Gilles Roth, this mechanism, a Special Purpose Vehicle (SPV) in the form of a limited company called Prolog S.A., is now operational. This approach complements the government's measures to boost housing.

The idea for the SPV Prolog S.A. was created by the four founding banks, Spuerkeess, Banque Internationale à Luxembourg (BIL), Banque Raiffeisen and Société Nationale de Crédit et d'Investissement (SNCI), now joined by Banque de Luxembourg. Its aim is to unblock the situation of properties where construction has started but which cannot be put on the market due to a lack of sufficient pre-sales.

A 7-phase process

Phase 1: The developer obtains the necessary permits and markets the units in its residential development.

Phase 2: Some of the units are sold on a VEFA (VEFA future state of completion) basis, but because the number of units sold is insufficient, the developer is unable to obtain the necessary financing from its bank. Construction cannot begin.

Phase 3: The developer can submit his project to Prolog S.A. via one of the participating banks, so that Prolog S.A. can commit to buying (via an option) the unsold properties at a discount (to be defined on a case-by-case basis).

Phase 4: Prolog S.A's Investment Committee analyses the project. The conditions to be met include the following

the project presented must be viable and meet market needs (e.g. luxury flats excluded).
a pre-sales threshold of 50% of the programme has already been reached.

Phase 5: Thanks to Prolog S.A.'s commitment, the developer will be able to obtain the financing he needs from his bank to complete the project.

Phase 6: Construction can begin. At the same time, the developer continues to sell unsold units freely on the market.

Phase 7: If any units remain unsold at the time of completion, the developer asks Prolog S.A. to acquire them with a view to their subsequent resale by the SPV.

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