Intelaka Program in Morocco in 2026: how do you obtain a 2% loan for your very small business?

The royal speech of 11 October 2019, at the opening of the parliamentary session, called on the banking sector to step up its efforts in favor of young project holders, TPE and rural areas. The program agreement was signed in January 2020 and the products were marketed by the banks from February 2020. An entrepreneurship financing support fund of 8 billion MAD (State, banks and Hassan II Fund for the rural component) finances the interest rate subsidy and the guarantee. The objectives are to:

• Facilitate access to credit for TPE and project holders with no banking history
• Reduce the cost of financing through rates capped at 2% and 1.75%
• Provide a public guarantee that replaces the personal guarantees usually required
• Strengthen support for entrepreneurs (training, business plan, mentoring)

The repayment period is set by the bank according to the nature of the loan (investment or operating). The ceilings, rates and terms result from the agreements between Tamwilcom and the banks and may change.

• Ministry of Economy and Finance: steering and funding of the support fund
• Bank Al-Maghrib: refinancing of banks at a reduced rate for Intelaka loans and driving force behind the program
• GPBM: agreement with the participating banks
• Tamwilcom (formerly Caisse Centrale de Garantie): public guarantee of loans (Damane Intelak)
• Participating banks: processing of applications and distribution of loans to eligible project holders
• Support organizations (ANAPEC, incubators, professional chambers): help with formalizing the project and the business plan

To be eligible, a project holder must generally:

• Be of Moroccan nationality (resident or MRE) or resident in Morocco, and of legal age
• Present a viable business project in Morocco (creation or development), in an eligible sector (industry, services, agriculture, crafts, technologies, exports to Africa)
• Operate a TPE under 5 years old whose annual turnover is below 10 M MAD, or be starting their business
• Have a legal status: commercial company, auto-entrepreneur (Law 114-13), cooperative (Law 112-12) or trader registered in the Commercial Register
• Have no unresolved payment incident and not be listed as a high-risk client in the databases consulted by banks

The precise criteria are defined by the Intelaka agreements and may vary depending on the product and the bank; a personal contribution may be required.

1. Define the project: business plan, financial forecasts, financing plan
2. Create the legal status: SARL, SARL AU, SAS or auto-entrepreneur status; with Charikaty, the company is set up online
3. Choose a bank participating in the program and make an appointment with an advisor
4. Prepare a file containing the legal documents (articles of association [statuts], Commercial Register extract, IF, ICE), accounting documents (forecasts, latest balance sheets where applicable), personal documents (national ID card [CIN], proof of address) and the quotes or pro forma invoices for the investments
5. File the Intelaka loan application with the bank, which processes the file and requests the Tamwilcom guarantee
6. Sign the loan agreement and draw down the funds for investment and/or operating needs

The response time depends on the bank and the completeness of the file; an up-to-date legal file speeds up processing.

Intelaka is part of an entrepreneurship support ecosystem that includes:

• The Investment Charter (Charte de l'investissement, framework law No. 03-22) and its investment grants, with a specific scheme for TPME
• The ANAPEC programs supporting employment and self-employment, and the Tahfiz exemptions for first hires, detailed in our guide on hiring incentives (ANAPEC, Tahfiz, Idmaj)
• Tamwilcom's Innov Invest Fund for innovative startups, presented in our guide on Innov Invest and Tamwilcom financing
• Public and private incubators and accelerators
• Crowdfunding (financement collaboratif) governed by Law 15-18, detailed in our guide on crowdfunding in Morocco

A bank generally requires:

• A company registered in the Commercial Register (Law 15-95) or an auto-entrepreneur status registered in the national register (Law 114-13)
• A corporate purpose (objet social) consistent with the financed project
• Accounts kept in accordance with Law 9-88 (or the simplified regime of the auto-entrepreneur)
• A structured and costed business plan

Setting up a SARL or a SARL AU beforehand (freely set capital, with no legal minimum since Law 24-10; bank deposit of the funds mandatory only above 100,000 MAD of capital, see the minimum capital by company form) is the usual prerequisite for putting together the Intelaka application. The company also benefits from the exemption from business tax (taxe professionnelle) for 5 years and from the minimum contribution (cotisation minimale) for 36 months.

Once the loan has been obtained, the entrepreneur must:

• Comply with the plan for the use of the funds agreed with the bank
• Keep regular accounts (Law 9-88) and retain the records for 10 years (Article 211 of the CGI)
• Meet the bank repayments; in the event of default, the Tamwilcom guarantee compensates the bank but the borrower remains liable for the debt
• Affiliate their employees with the CNSS from the first hire (Dahir No. 1-72-184 of 27 July 1972), after the company's affiliation with the CNSS, and declare salaries via DAMANCOM

To apply for Intelaka, here is what you need: a legal status, a business plan and a bank file including in particular the articles of association, the Commercial Register extract, the IF and the ICE. And with Charikaty, you do everything online for the formation of your company.

Charikaty is a private Moroccan legal-tech platform specializing in company formation. For a project holder wishing to apply for Intelaka, we set up the company entirely online (OMPIC negative certificate [certificat négatif], electronically signed articles of association, registration in the Commercial Register, IF, ICE, business tax, CNSS affiliation) and provide you with the documents expected by the bank. For a SARL or a SARL AU, our SARL formation service covers all of these formalities. We also advise you on the choice between a company and auto-entrepreneur status. More than 250 companies have already been set up with Charikaty.