What we do
Equity products
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
Pan-European Venture Capital Fund(s)-of-Funds programme
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
Debt products
AGRI Guarantee Facility
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
EREM debt products
Single EU Debt Financial Instrument
COSME - Loan Guarantee Facility
InnovFin SME Guarantee Facility
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Baltic Innovation Fund (BIF)
Competitiveness Fund-of-Funds for SMEs in Romania
Regional Fund-of-Funds Romania
La Financière Région Réunion
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Venture Initiative (DVI-II)
Dutch Growth Co-Investment Programme
European Recovery Programme (ERP)
ERP-EIF Co-Investment Growth Facility
ESIF Fund-of-Funds Czech Republic
ESIF Fund-of-Funds Greece
The Silesia EIF Fund of Funds
EstFund
FOSTER TPE-PME Occitanie
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
JEREMIE
LfA-EIF Facility
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
The EIB Group Risk Enhancement Mandate (EREM)
Western Balkans Enterprise Development & Innovation Facility II (WB EDIF II)

JEREMIE Campania (Italy): Information note to the Call for expression of interest JER-007/

  •  
    Date: 10 September 2014 - 24 September 2014

 

campania

 

Ref.: Call for Expressions of Interest no. JER-007/3 launched on 20/07/2011 (with deadline on 30/09/2011) through which resources were made available from the EIF acting through the JEREMIE Holding Fund for the Campania Region to Financial Intermediaries to implement a Funded Risk Sharing Financial Instrument to strengthen credit access in the social sector.

In order to further facilitate improvements in the access to finance for Eligible beneficiaries [1], the EIF is to implement the following changes to the indicative terms and conditions of the Financial Instrument set out in Annex 2 “Funded Risk Sharing Financial Instrument for Social Finance: Description and Selection Criteria”, Part I “Description of the Financial Instrument”, section 3 “Indicative Summary of Transaction Terms”, of the Call JER-007/3.

Transaction Term

Indicative Summary of Transaction Terms set out in the Call JER-007/3

Change

Loan and amount

A Loan shall be a loan to an SME with a maximum principal amount not exceeding EUR 100,000.

Eligible SMEs could potentially apply more than once for loans allocated in the context of this Financial Instrument provided that the maximum aggregated loan amount of EUR 100,000 per SME is respected.

A Loan shall be a loan to an SME with a maximum principal amount not exceeding EUR 250,000.

Eligible SMEs could potentially apply more than once for loans allocated in the context of this Financial Instrument provided that the maximum aggregated loan amount of EUR 250,000 per SME is respected.

Loan Maturity

Minimum 12 months and maximum 8 years, including a grace period of up to 1/3 of the loan maturity (for capital repayment), if any. Only amortising loans are eligible.

Minimum 12 months and maximum 10 years, including a grace period of up to 1/3 of the loan maturity (for capital repayment), if any. Only amortising loans are eligible.

Furthermore, given that the “Eligible forms of SME financing” (as set out in the Call) shall support social improvement and/or social inclusion through “either of: (i) strengthening of enterprises, including Social Enterprises and Social Cooperatives, acting in the social sector or carrying out activities aimed at social improvements; or (ii) promoting and supporting of entrepreneurial initiatives targeting social inclusion and integration of less advantaged categories of people, such as women entrepreneurs, immigrants, disabled, ex-convicts, etc.; or (iii) increasing adaptability of workers, enterprises and entrepreneurs with a view to improving entrepreneurship, innovation and creation of new companies also promoting self-employed and independent work”, the selected Financial Intermediary will have the faculty – with certain limitation as to the maximum loan amount and the concentration to be set by the EIF[2] – to finance individuals, including less advantaged categories of people, such as women entrepreneurs, immigrants, disabled, ex-convicts, etc., to purchase the share of the social cooperative/social enterprise which they currently, or will, work for.

The above product features were neither a selection nor evaluation criteria and therefore had no impact on the Financial Intermediaries selection result.

Should you decide that you would like to participate in the Financial Instrument due to the above-mentioned changes, please inform EIF by no later than 24 September 2014. A justification is required of why the changes in the indicative terms and conditions of the Financial Instrument and/or the changes in “Eligible forms of SME financing” would make you now submit an expressions of interest for the Call JER-007/3Call.

Your Expression of Interest shall be provided in the form of a duly signed letter by an authorised person(s), indicating the reference number of the Call (No. JER-007/3), to be sent to the following addresses (both):

Postal Address:

European Investment Fund

Attention: Regional Business Development Unit

37B, avenue J F Kennedy

2968 - Luxembourg

and 

E-mail address: Attention: Regional Business Development Unit, info.rbd@eif.org



[1] Eligible beneficiaries means SMEs (including individual entrepreneurs/self employed persons, Social Enterprises and Social Cooperatives) as defined in the Commission Recommendation 2003/361/EC, excluding “firms in difficulty” within the meaning of Art. 45 of Reg. 1828/2006 and within the meaning of Article 2.1 of the Community guidelines on State aid for rescuing and restructuring firms in difficulty (OJ C 244, 1.10.2004, p. 2), as amended or substituted by future Community guidelines.

[2] The maximum loan amount for this typology of Eligible forms of SME financing is expected to be between EUR 4,000 and EUR 6,000.


 
 

Copyright ©

 European Investment Fund 2017 – The European Investment Fund is not responsible for the content of external internet sites.