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Cultural and Creative Sectors Guarantee Facility (CCS GF)

    Date: 18 July 2016 - 30 September 2020

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The CCS GF is a new initiative managed by EIF on behalf of the European Commission and launched in June 2016 in the context of Creative Europe programme (2014-2020). The Guarantee Facility benefits micro, small and medium-sized enterprises (SMEs) in the cultural and creative sectors, often facing difficulties in accessing loans, based in any of the participating countries. At end of June 2016, these included the EU Member States, Iceland and Norway.

The initiative is expected to create more than EUR 600 million in loans and other financial products through a catalyst effect.

To this end, the facility encourages financial intermediaries to adopt a specific credit assessment approach with SMEs and organisations. Financial intermediaries operating under the facility have the opportunity to receive a customised training to better understand the specific needs of the cultural and creative sector projects, thus to increase their engagement in this area.

Who is eligible to become an EIF’s financial intermediary under the CCS GF?

Among others, eligible applicants are:

  • Financial or credit institutions, leasing companies or loan funds duly authorised to carry out lending or leasing activities in accordance with applicable laws and regulations, established and operating in a participating country;
  • Guarantee institutions, guarantee schemes or other financial or credit institutions duly authorised, if applicable, to issue guarantees in accordance with the applicable laws and legislations, established and operating in a participating country;

 For detailed and complete eligibility criteria please see the application documents below.

How does CCS GF work and what are its benefits?

The CCS GF will provide to selected financial intermediaries:

  • Capped First Loss Portfolio Guarantees and Counter-guarantees, free of charge to enable selected financial intermediaries to provide more loans and leases to entrepreneurs. The Guarantee Facility will increase both the range and number of SMEs receiving debt financing in the cultural and creative sectors. 
  • a Capacity Building programme, optional and free of charge, to help selected financial intermediaries improving their understanding of the cultural and creative sectors’ specificities. This would give the opportunity to support entrepreneurs in operating in the sector that would have not been reached-out otherwise due to risk considerations.

What kind of companies can benefit from the CCS GF?

Small and medium-sized enterprises (SMEs) or a Small Public Enterprise in the cultural and creative sectors, established and operating in any of the participating countries (currently EU Member States, Iceland and Norway) which are :

  • involved in projects or activities based on cultural values and/or artistic and other creative expressions, either market or non-market-oriented, including the development, the creation, the production, the dissemination and the preservation of goods and services which embody cultural, artistic or other creative expressions, as well as related functions such as education or management. The cultural and creative sectors include architecture, archives, libraries and museums, artistic crafts, audiovisual (including film, television, video games and multimedia), tangible and intangible cultural heritage, design, festivals, music, literature, performing arts, publishing, radio and visual arts;
  • not carrying out activities breaching ethical principles or focus on one or more EIF restricted sectors;

How to apply to the Cultural and Creative Sectors Guarantee Facility 

For financial institutions:

EIF will select Financial Intermediaries after a call for expression of interest process which is published below. After applying, you will have to be pre-selected before the EIF undertakes to start a full due diligence process and brings the proposal further in the approval process. Please download the specific calls below and apply by submitting to the EIF your expression of interest by 30.09.2020.

For SMEs :
To apply for a loan, cultural and creative sector companies must contact the financial intermediaries selected for each country. The facility will start rolling out in 2016 and financial intermediaries will start operating under it gradually. Further information will be posted on this webpage as soon as it is available. For information about finance available under further EU initiatives, please visit http://europa.eu/youreurope/business/funding-grants/access-to-finance


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