The SME Initiative - launched in Bulgaria in 2016 - is co-financed by the Government of the Republic of Bulgaria trough Operational Programme “SME Initiative”, the European Commission and the EIB Group (i.e. the European Investment Bank and the European Investment Fund), with the EIF managing the scheme on behalf of the different contributors.
The SME Initiative is a public-private partnership acting as catalyst for private investments and supporting economic growth and job creation.
To this end, it entails an innovative change in the use of European Structural and Investment Funds (ESIF), combining the latter with EU central budget (resources from the Horizon 2020 programme) and EIB Group funds. Through a risk-sharing mechanism, the EUR 102 million of ESIF resources made available by the Government of the Republic of Bulgaria, leveraged with commercial lending, are expected to generate more than EUR 600 million of new SME loans at favourable terms.
If you are eligible to become an EIF financial intermediary, you can download all the application documents here below and apply by 30.11.2016 responding in full to the Call for Expression of Interest. The application documents include important information about the SME Initiative financial instruments, the eligibility and exclusion criteria for financial intermediaries and about the selection process. Applications will be processed on a “first come and first assessed" basis.
EIF does not finance SMEs directly, but only via financial intermediaries. If you are looking for finance and would like to see which financial intermediaries currently cooperate with us in Bulgaria, please visit www.eif.org/what_we_do/where/bg/index.htm
For information about funding available under other EU initiatives, please visit http://europa.eu/youreurope/business/funding-grants/access-to-finance/