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COSME - Loan Guarantee Facility (LGF)

    Date: 27 October 2015 - 30 September 2020

EC logo

The COSME Loan Guarantee Facility (LGF) is a window of the Single EU Debt Financial Instrument which supports European enterprises' growth and research and innovation (R&I).

LGF is part of COSME (Programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises), an initiative launched by the European Commission and managed by EIF.

How does COSME LGF work?

Through COSME LGF, EIF offers guarantees and counter-guarantees, including securitisation of SME debt finance portfolios, to selected financial intermediaries (e.g. guarantee institutions, banks, leasing companies, etc.) to help them to provide more loans and leases to SMEs.

By sharing the risk, COSME guarantees allow the financial intermediaries to expand the range of SMEs they can finance, facilitating access to debt finance for many SMEs who might be having difficulties in accessing the traditional banking system.

Furthermore, the COSME Digitalisation Pilot is a new initiative launched under COSME LGF in October 2019 with a view to supporting the digital transformation of SMEs in the Participating Countries. The Pilot enables Financial Intermediaries to offer broader and more comprehensive financing to SMEs in the field of digitalisation.

LGF is a successor to the SME Guarantee Facility (SMEG), successfully implemented by EIF under the Competitiveness and Innovation Framework Programme (CIP) in the period 2007-2013.   

Who is eligible* to become EIF’s financial intermediary under COSME LGF?

Eligible applicants are:

  • Financial or credit institutions and loan (debt) funds duly authorised to carry out lending or leasing activities to SMEs according to applicable legislation, established and operating in one or more of the EU Member States and COSME Associated Countries;
  • Guarantee institutions, credit or financial institutions duly authorised to issue guarantees to SMEs according to applicable legislation, established and operating in one or more of the EU Member States and COSME Associated Countries.

    (*) For detailed and complete eligibility criteria please see the application documents below.

Which type of companies can benefit from COSME LGF?

SMEs, established and operating in one or more EU Member States and COSME Associated Countries.
Supported SMEs should not be carrying out activities breaching ethical principles or focus on one or more EIF restricted sectors.

How to apply to COSME LGF

For financial institutions:
If you are eligible, you can apply by downloading all the application documents published here below by 30 September 2020. EIF will select intermediaries after a due diligence process.
Note: With the launch of the COSME Digitalisation Pilot in October 2019, documents have been updated to include the relevant references to this new initiative.

For SMEs:
Are you looking for debt finance? Download here the list of financial intermediaries and sub-intermediaries currently operating under the COSME - Loan Guarantee Facility (LGF), thanks to the support of the European Union.
For information about finance available under further EU initiatives, please visit http://europa.eu/youreurope/business/funding-grants/access-to-finance/


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