Under the European Progress Microfinance Facility (EPMF), EIF provides capped guarantees partially covering portfolios of micro-credits or of guarantees on micro-credits to selected intermediaries authorised to provide microfinance instruments (financial institutions, microfinance institutions, guarantee institutions). EPMF offers two product lines to eligible intermediaries:
Covering portfolios of micro-credits to encourage intermediaries to provide financing to micro-enterprises, including self-employed persons.
Institutions wishing to build up a portfolio of micro-financing or of guarantees on micro-financing and interested in applying to benefit from microcredit guarantees must be established and operating on national, regional or local levels in the EU Member States and providing micro-financing to persons and micro-enterprises established in the EU-27 Member States.
Applications can be made until 31 December 2013 or any later date as a result of any subsequent prolongation, subject always to the availability of budgetary funds.