Enhanced terms and conditions for guarantees and counter-guarantees for incentivizing financial intermediaries to provide working capital financing.
Objective: Under this scheme the EIF will be able to provide enhanced terms and conditions for guarantees and counter-guarantees to incentivize financial intermediaries to provide working capital financing to European SMEs and mid-caps hit by the economic impact of the coronavirus pandemic.
Programme: InnovFin SME Guarantee Facility (InnovFin SMEG), which is supported by the European Fund for Strategic Investments (EFSI)
Institution: European Investment Fund (EIF)
Deadline: The InnovFin SMEG remains open for applications from financial intermediaries in EU and Horizon 2020 Associated Countries outside of the COVID-19 guarantee envelope within its original deadline of 31/12/2020.
Budget: InnovFin SMEG COVID-19 Sub-window is opened under this Call For Expression of Interest with dedicated guarantee capacity of EUR 1.5 billion (the “InnovFin SMEG COVID-19 Sub-window”)
Financing type: guarantees and counter-guarantees to selected Financial Intermediaries, using a combination of the EU's Horizon 2020 Framework Programme for Research and Innovation (2014-2020) contribution (“Horizon 2020”) and EIF’s own risk capacity.
Who is eligible as financial intermediary:
- Financial, credit institutions or loan (debt) funds duly authorised to carry out lending or leasing activities to SMEs according to applicable legislation, be established and operating in one or more EU Member States and Horizon 2020 Associated Countries.
- Guarantee schemes, guarantee institutions or other credit or financial institutions duly authorised to issue guarantees to SMEs according to applicable legislation, established and operating in one or more EU Member States and Horizon 2020 Associated Countries.