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European Guarantee Fund: EIF and Tresmares Direct Lending back Spanish high-growth SMEs impacted by the COVID-19 crisis with €225 million

  •  
    Date: 26 April 2021
  • Tresmares Direct Lending as fund manager of Tresmares Santander Direct Lending signs a guarantee agreement with the EIF under the European Guarantee Fund to facilitate access to finance for companies exposed to the COVID-19 pandemic.
  • The EGF is part of the €540 billion EU rescue package in the wake of the COVID-pandemic.

To support small and medium-sized businesses in Spain, the European Investment Fund (EIF) signed a guarantee agreement with Tresmares Direct Lending SGEIC, SA, an independent financial services provider specialised in high-growth SMEs.

The EIF will back a portfolio of loans for up to €225 million and will assume up to 70% of the risk on the loans granted to SMEs by Tresmares’s fund: Tresmares Santander Direct Lending SICC, SA. The fund was launched in 2020 with a rather unique value proposition: supporting previously identified high potential SMEs to achieve their growth objectives trough customised funding.

Thanks to the EIF, Tresmares Direct Lending will ensure that high potential SMEs have sufficient financing available to mitigate the economic impacts of the pandemic and are not forced to cut their growth and development strategies. The EIF financing is backed by the European Guarantee Fund (EGF), approved by the European Council as part of the €540 billion EU rescue package.

Tresmares uses advanced techniques of data intelligence to identify most promising companies in their segments as well as most dynamic market trends. To previously identified SMEs, Tresmares provides specialised private debt lending. These companies show a strong positioning on digital transformation, innovation and climate-oriented strategies.

Alain Godard, Chief Executive of the EIF, said: “The COVID-19 pandemic is having major economic repercussions on firms of all sizes, but especially on SMEs. The EGF is there to provide companies with the needed funds to keep their business afloat and the agreement signed with Tresmares Direct Lending shows the EIF commitment in achieving this.

Backing the development and growth of small and medium-sized companies is now more essential than ever. This is key to support the recovery from the economic slump resulting from containment measures and confidence impact stemming from the pandemic. The agreement between the EIF and Tresmares Direct Lending under the EGF backs the digital and innovation strategies of Spanish SMEs,” added Ricardo Mourinho Felix, EIB Vice-President responsible for the EIB Group operations in Spain.

“Tresmares was created in 2020 with the single purpose of aiding SMEs to reach their goals. Now that the COVID19 Pandemic has hit hard the company ecosystem, it is especially important to stay close to our clients, to listen and to help. We firmly believe that the EGF can also be effectively used to support those SMEs called to lead the transformation of the Spanish economy. We are proud to work hand in hand with the EIF in the implementation of such innovative instrument,” added Borja Oyarzábal Alonso, CEO of Tresmares.       

Background information:

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments that specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research, and development, entrepreneurship, growth, and employment.

The European Guarantee Fund (EGF) was set up by the EIB Group with contributions from Spain and other EU Member States to shield companies suffering from the COVID-19 crisis. Using nearly €25 billion in guarantees, the EGF allows the EIB and the EIF to quickly make loans, guarantees, asset-backed securities, equity and other financial instruments available to mostly small and medium-sized enterprises. The EGF is part of the European Union’s recovery package aiming to provide a total of €540 billion boost those parts of the EU economy that have been hit the worst.

Tresmares Direct Lending SGEIC SA is a spanish independent platform set by Tresmares Capital together with Banco Santander, expected to grow to €900m assets under management. Its objective is to offer a comprehensive solution to cover debt financing needs of high growth targeted SMEs, with the aim to support the real economy.

Press contacts:

EIF

Lorenzo Squintani, tel.: +352 691 285 772, l.squintani@eib.org 
Website: www.eif.org – Press office: +352 4379 21000 – press@eib.org
Follow us on Twitter @eif_eu 

Tresmares Direct Lending

Ignacio Vicente, tel.: +34 661 753 067, ignacio.vicente@tresmarescapital.com
Website: www.tresmarescapital.com 

 

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