The InnovFin SME Guarantee Facility - managed by EIF - is, in addition to InnovFin SME Venture Capital, part of “InnovFin – EU Finance for Innovators”, an initiative launched by the European Commission and the EIB Group in the framework of Horizon 2020.
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 EIF, these local partners act as financial intermediaries.
EIF, 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).
The InnovFin SME Guarantee Facility is a demand-driven, uncapped instrument that builds on the success of the Risk Sharing Instrument (RSI), developed under FP7, the 7th EU Framework Programme for Research and Technological Development (2007-2013) managed and implemented by EIF.
Eligible applicants are:
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.
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.
For research-based and innovative SMEs and Small Mid-caps:
Are you looking for debt finance? Download here the list of financial intermediaries and sub-intermediaries currently operating under the InnovFin Guarantee Facility. For more information about further financial instruments made available by the EIB under "InnovFin – EU Finance for Innovators", such as direct loans to enterprises and advisory services, please visit www.eib.org
For information about finance available under further EU initiatives, please visit http://europa.eu/youreurope/business/funding-grants/access-to-finance/