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InvestEU: EIF and Banco Sabadell provide over €300 million to support high-growth small businesses and green companies

    Date: 22 December 2022
  • The EIF is providing a €101 million guarantee to Banco Sabadell to support the economic recovery of small businesses and mid-caps
  • This is one of EIF’s first InvestEU SME transactions in Spain.

The European Investment Fund (EIF), part of the European Investment Bank (EIB) Group, and Banco Sabadell are joining forces once again to support Spanish small businesses (SMEs) and mid-caps. The EIF is providing a €101 million guarantee to Banco Sabadell, enabling the Spanish bank to mobilise financing of up to €336 million.

This is one of EIF’s first agreements in Spain under the InvestEU guarantee programme and will support early-stage technology companies (venture capital), high-growth small businesses and renewable energy sector companies. InvestEU provides an EU budgetary guarantee to implementing partners to increase their risk-taking capacity and therefore contributes to mobilising public and private investment for the EU's policy priorities

“European small businesses must have access to innovative, easily accessible sources of finance” said EIF Chief Executive Alain Godard. “We are delighted to once again join forces with Banco Sabadell to support Spanish small businesses and mid-caps, the backbone of the national economy. In partnership with Banco Sabadell, EIF is pleased to be able to boost financing for renewable energy projects, innovative start-ups and sustainability companies in Spain.”

Deputy General Manager of Banco Sabadell and Director of BS Capital, Raúl Rodríguez, said: "Banco Sabadell has a wide range of alternative financing solutions, especially in the start-up segment through Sabadell Venture Capital, for SMEs through BanSabadell Inversió Desenvolupament (BIDSA), and in the sustainability and decarbonization segment with Sinia Renovables. Banco Sabadell is a leading entity in financing SMEs and middle market companies, it has been a pioneer in being the first bank in Spain to offer Venture Debt financing to start-ups in 2017, and next year it will be 25 years of existence. the first operation we carried out in investment in renewables; many years in which we have accompanied dozens of clients on their way to sustainability. Thanks to this agreement with the EIF, we want to continue supporting companies in their growth projects”.

European Commissioner Paolo Gentiloni added: “InvestEU is playing an important role across Europe in helping small and medium-sized businesses gain access to the finance they need to innovate, expand and create jobs. I am delighted that, thanks to this agreement, many more Spanish businesses will receive the support they need to fulfil their potential.”

The loans that Banco Sabadell has undertaken to grant via its management of Sabadell Venture Capital, BIDSA and SINIA will go towards backing the investments and working capital of small businesses and mid-caps. In concrete terms, the funds will support start-ups via venture debt operations; high growth potential industrial companies with senior and mezzanine loans; and decarbonisation sector companies (renewable energy projects and sustainability companies) in products such as senior bridge loans and subordinated loans.

By assuming up to 80% of the risk for loans that Banco Sabadell grants to small businesses and mid-caps, the EIF will encourage the provision of new financing, indirectly supporting the entire start-up and renewable energy ecosystem.

About the European Investment Fund (EIF)

The European Investment Fund 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. The EIF designs and develops venture capital, private equity, guarantee and micro-finance instruments that specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.

The InvestEU Programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

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