InnovFin SME Guarantee Facility
The InnovFin SME Guarantee Facility will be deployed by eligible local banks, leasing companies, guarantee institutions, etc. which are selected after a due diligence process following the launch of a Call for Expression of Interest. Once selected by European Investment Fund (EIF), these local partners act as financial intermediaries.
European Investment Fund, acting for both EIF and the EU as the implementing body, covers a portion of the losses incurred by the financial intermediaries on loans, leases and guarantees between EUR 25 000 and EUR 7.5 million which they provide under the InnovFin SME Guarantee Facility. In this way, the EU and EIF allow the provision of more debt financing to innovative SMEs and Small Mid-caps (up to 499 employees).
Eligible applicants are:
- 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.
What type of companies can benefit from the InnovFin SME Guarantee Facility?
Research-based and innovative SMEs and Small Mid-caps established and operating in one or several EU Member States and Horizon 2020 Associated Countries.
SMEs and Small Mid-caps should not breach ethical principles referred to under Horizon 2020 or focus on any of EIF restricted sectors.
How to apply to the InnovFin SME Guarantee Facility
For financial institutions:
If you are eligible, you can apply by downloading all the application documents published here below. EIF will select intermediaries after a due diligence process.
- Call for Expression of Interest
- Information note to financial intermediaries (published on 19.03.2015)
- Information note to financial intermediaries – Amendment Offer and Acceptance (published on 15 June 2016)
- Annex I - Expression of Interest
- Annex II - Indicative Guarantee Termsheet
- Annex III - Indicative Counter-Guarantee Termsheet
- Terms of Confidentiality
- Frequently Asked Questions