CIP SMEG was an EU programme managed by EIF to enhance access to finance for SMEs in the period 2007-2013. By providing co-, counter- and direct guarantees to our financial intermediaries, thus reducing their exposure to risk, EIF aimed at increasing their lending volumes to SMEs. CIP SMEG has been successfully implemented: Under the programme, we have signed agreements with 46 financial institutions in 21 countries across Europe and reached 275,113 SMEs so far. The loan amount that CIP SMEG has generated for SMEs was in the order of EUR 15,015m.
Please note that the application period for financial institutions ended on 31 December 2013 and the CIP SMEG has ended. EIF is currently working intensively with the European Commission on COSME, a new EU programme enhancing access to finance for SMEs. Details should be available soon, we invite you to check this page regularly for further updates.
If you are an entrepreneur and are looking for finance supported by the European Union, please visit this multilingual website http://europa.eu/youreurope/business/funding-grants/access-to-finance