The SME Initiative - launched in Finland in September 2016 - is co-financed by the Republic of Finland, 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 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 40 million of ESIF and national resources made available by the Republic of Finland, leveraged with commercial lending, are expected to generate about EUR 400 million of new SME loans at favourable terms.
For financial institutions:
If you are eligible to become an EIF financial intermediary, you can download all the application documents here below and apply by 31 March, 2017 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 Finland, please visit www.eif.org/what_we_do/where/fi/index.htm
For information about funding available under other EU initiatives, please visit http://europa.eu/youreurope/business/funding-grants/access-to-finance/