How EFSI benefits SMEs in Europe - ING case study: Flen Pharma (Luxembourg/Belgium), medical device company

Philippe Sollie, pharmacist by profession, secured an EU-guaranteed loan provided by ING Luxembourg and backed by the EIF under the European Fund for Strategic Investments (EFSI). EFSI aims to generate new investments by facilitating access to finance for Small and Medium-sized Enterprises (SMEs). Philippe has used part of his loan to open a franchise in the United Kingdom allowing for the creation of its own network of distributors. Furthermore, Philippe is planning to use the other part of the loan to hire two additional researchers and invest in the research and development of his products. Today, Philippe employs around 75 staff and continues to offer through ‘Flen Pharma’ a new class of wound healing products, reducing pain and trauma after injury.

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