Hardship fund for the Corporate clients of Satabank

The Ministry for Finance together with the Ministry for the Economy, Investment and Small Businesses has announced the establishment of a hardship fund for the Corporate clients of Satabank. The Fund is being managed by Malta Enterprise.

The hardship fund provides a bridge loan to assist affected companies. The fund effects and processes payments to cover verifiable salary bills. Other critical operating expenses may be considered on a case by case basis.

The hardship fund has been made available as of Monday 26th November 2018 to Corporate clients of Satabank registered in Malta or with employees resident in Malta, and which have:

  • Paid operating expenses through their Satabank account on previous occasions;
  • Sufficient funds with Satabank to cover the requested bridge loan; and.
  • A substantive nexus to the Maltese economy.

Corporate clients in receipt of assistance from the hardship fund agree that, once released, the funds held at their Satabank accounts will be used to repay amounts provided by the hardship fund.

Those wishing to apply for the hardship fund should complete the application form that can be downloaded from the section below.

Frequently Asked Questions (FAQs)

  • What is the hardship fund?

    It is a short term bridge-loan made available by the Ministry for Finance and the Ministry of Economy, Investment and Small Businesses, and managed through Malta Enterprise, to enable eligible corporate clients of Satabank to cover primarily their outstanding salary expenses, whilst their Satabank accounts are frozen.

    This measure and all processes associated with it is overseen by the Malta Financial Services Authority.

  • For how long will the fund run?

    The deadline to submit new applications for Satabank Hardship Fund 29th March.

    The deadline to submit recurring payment applications for the payments that were previously agreed by the Hardship Fund (e.g. salary and rent payments) – 30th April.

  • What types of payments will the hardship fund cover?

    The hardship fund is intended to cover verifiable wage bills. Other time-critical operating expenses may be considered on a case by case basis.

    Verification will be made to establish that analogous prior payments have been made from your Satabank account.

  • Will the fund cover payments that should have been made from my Satabank account since the time of freezing?

    The hardship fund will cover, retrospectively, qualifying payments that should have occurred at any time since the freezing of Satabank accounts on 20th October 2018.

  • How will the process work?

    For each payment that you wish to process, you are requested to complete the application form available in the Downloads section below and to submit to hardshipfund@maltaenterprise.com.

    You will need to submit a separate application form for each payment, and each application will be assessed on its own merit.

    Upon receipt of a fully completed application form, checks will be performed to verify your eligibility.

    Checks will be performed by a third party. By submitting an application you agree to your data being processed by the third party.

    You will be informed by email (to the email address through which the application form was submitted) of the success of your application or whether additional information is required to process it.

    Upon successful processing of your application, payments will be made by Malta Enterprise to the designated payees.

    Once released, the monies held at your Satabank accounts will be used to repay monies provided by the hardship fund.

  • Will payments by processed immediately upon application?

    We are required by law to verify the legitimacy and eligibility of any application. This means that funds will not be processed immediately.

    We understand the impact that the unavailability of funds has on Satabank clients and endeavour to process applications as quickly as reasonably possible. The quality and completeness of the information provided by you in the application form are of crucial importance in this. Please take the time to complete your application form as accurately as possible to avoid unnecessary delays.

  • Will funds be disbursed to me?

    No. Payments will be made directly to the payee of any approved payment.

  • Do I need to reapply every week/month for re-occurring payments?

    No. As part of your application, you will be required to indicate the frequency of any recurring payments requested. Upon successful processing of your application, recurring payments will be made for the duration of this arrangement (i.e. three months), subject to availability of funds in your Satabank account.

  • What happens if the account of the individual or firm I need to pay is also a Satabank one, and therefore frozen?

    Payment to Satabank accounts cannot be processed.

    Satabank account holders have been advised to transfer their banking arrangements to a credit or payment institution in an EU/EEA jurisdiction, where they have one or to open one in the same name as their existing account at Satabank.

    Payments intended for Satabank account holders will be processed using their alternative bank accounts. You will be required to provide alternative details for payments to Satabank account holders in your application form.

  • Will I be able to utilise credit facilities I have with Satabank?

    No. The hardship fund will only cover payments for which balances exist in your Satabank account.

  • Are there any fees or charges for use of the hardship fund?

    Yes. There will be an interest rate charged on any amounts paid by the hardship fund. The rate has been set at 0.3% per annum and will be calculated on the basis of calendar days (i.e. the timeframe over which the money was loaned by the Hardship Fund to an Applicant) divided by 365 (days in the year). The interest will be collected by the hardship fund from an applicant’s bank account at the same time the fund is reimbursed for payments made on behalf of the applicant.

    For example if €10,000 was paid by the Hardship fund and the money was to be repaid after 85 days, the interest charged would be €6.99 [(10,000 x 0.3%) x (85/365)]. The total amount repayable would therefore be €10,006.99.

  • Signed application forms

    For any application to be processed, the application form must be signed. Please note that an electronic signature is acceptable. An unsigned application form cannot be processed.

  • Who should submit the application?

    The application should be submitted by an individual who is an authorised bank account signatory - i.e. someone who has the authority to instruct Satabank to make a payment from the account. Where an account requires multiple signatories, we will need the application form to be signed by all required parties.

  • Who should sign the application?

    The application should be signed by the individual who is submitting the application i.e. an authorised bank account signatory. Where multiple signatures are required to instruct Satabank to make a payment from an account then the application must be signed by all necessary signatories with the legal full name and date of birth of the other individual(s) also being provided. Personal identification documentation will be required of all signatories (see below).

  • What identification documents must be provided with an application?

    A copy of a government issued identification document showing both a photograph and signature (e.g. passport or driving licence) must be provided for each authorised bank signatory signing the application. Where a specific document is referenced in the application, please submit a copy of that document.

  • What is the format for an application concerning the payment of salaries?

    Where an application relates to the payment of multiple salaries, a separate application form is not required for each employee. The information required for each employee (as listed on the application form) can be provided in a spreadsheet as an attachment to the application.

  • What process applies to private individuals and customers that do not qualify for the hardship fund?

    Private individuals and corporate entities that do not qualify for the hardship fund and are seeking a return of their deposits should refer for guidance to Satabank website https://www.sata.bank/en/.

  • When does the Addendum to Application Form need to be submitted?

    The Addendum to Application Form references all accounts from which an Applicant will use funds to repay Malta Enterprise for any payments made on its behalf. As long as all relevant accounts are listed and the Addendum is signed by the appropriate number of authorised bank account signatories, then this document only needs to be submitted once by each Applicant. However, please note the requirement to submit a separate Application Form for each payment remains.


  1. Click on the button to download the Hardship fund application form
  2. Fill in the application form accordingly.
  3. Send the application form to hardshipfund@maltaenterprise.com

Contact Us

For any further assistance please send us an email at hardshipfund@maltaenterprise.com or call +356 2542 3247 (Monday to Friday - 9am to 5pm).