What we do
Institutional investors
Equity products
AI Co-Investment Facility
Cleantech Co-Investment Facility
Impact investing at the EIF
Climate & Infrastructure Funds
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
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
Documentary Finance Facility – Bulgaria
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
EaSI Funded 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
Normandie Garantie Agri
FAIRE - La Réunion
Auvergne Rhône-Alpes FEADER
Recovery Equity Fund of Funds of Bulgaria
Fons d’Inversió en Tecnologia Avançada (FITA) Catalonia
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Central and Eastern European Technology Transfer (CEETT)
Croatian Growth Investment Programme (CROGIP) II
Croatian Growth Investment Programme (CROGIP)
Croatian Venture Capital Initiative 2 (CVCi 2)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
The Cyprus Entrepreneurship Fund (CYPEF)
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
EU4Business Capped Guarantee
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
Call for Expression of Interest for FOSTER II
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
Romania Recovery Equity Fund of Funds
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund 1 (LFF)
Luxembourg Future Fund 2
Mezzanine 'Fund of Fund' for Germany (MDD)
NEOTEC resources
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece
Irish Innovation Seed Fund (IISF)
RRF Czech Republic Fund of Funds
    Date: 12 April 2019

Update in relation to the Business Development Support pilot as at 17 May 2021:

The application period for the Business Development Services (BDS) pilot under the EaSI Guarantee Initiative has extended until 31 December 2021 and the limit for the total amount of the support has been removed. Please refer to the updated Annex IV in the documents listed below.

Update in relation to EaSI GFI COVID-19 Support Period (as at 30 June 2021):

On 28 January 2021, the European Commission decided to further prolong and extend the scope of the State aid Temporary Framework adopted on 13 October 2020, to support the economy in the context of the coronavirus outbreak, for additional six months i.e. until 31 December 2021 (included).

In this context, EIF is providing the Financial Intermediaries which had already elected to extend the COVID-19 Support Period until 30 June 2021 with the possibility of extending it further until 31 December 2021 (included). The details of such extension will be communicated by the EIF to the Financial Intermediaries.

Update as at 1 November 2020:

For existing intermediaries, the application period for the covid-19 related support measures under the EaSI Guarantee Initiative has closed. We are updating information on this instrument as well as the list of selected financial intermediaries on an ongoing basis.

The EIF’s response measures to the COVID-19 pandemic (as at 24 July 2020)

The EIF and the European Commission (EC) are launching specific COVID-19 support measures under the EaSI Guarantee Instrument. Under this scheme, the EIF will provide enhanced terms and conditions for guarantees and counter-guarantees to incentivise financial intermediaries to continue providing financing to micro-borrowers, micro-enterprises and social enterprises hit by the economic consequences of the coronavirus pandemic.

In light of the budgetary constraints, the new COVID-19 support measures described in the call are available primarily to intermediaries who have already entered into a guarantee contract with the EIF, and to intermediaries that have been already selected. New applicants should note that the total amount of applications already received exceeds the EU budget available under the EaSI Guarantee instrument. Any new applications may be considered should additional resources become available.

Interested entities are invited to consult the full details in the call documents available below, including the addendum detailing the COVID-19 support measures. Existing intermediaries shall be able to benefit from improved guarantee terms without an additional application process by executing an amendment to their agreements in line with the Notice to Financial Intermediaries. The application deadline to the COVID-19 support measures for existing intermediaries is 31 October 2020.

For a quick overview of the COVID-19 support measures click here.

About the EaSI Guarantee Instrument

The EaSI Guarantee Instrument is funded from the EaSI Programme and is specifically dedicated to microfinance and social entrepreneurship. One of its key objectives is to increase the availability of and access to finance for vulnerable groups wishing to launch their own enterprises, micro-enterprises and social enterprises, both in their start-up and development phases.

The EaSI Guarantee Instrument builds on the success of the European Progress Microfinance Facility (Progress Microfinance) an EU initiative launched in 2010 and managed by EIF, that has so far mobilised more than €520m, supporting more than 55 000 micro-borrowers.

How does the EaSI Guarantee Instrument work?

EIF does not provide financing directly to micro-entrepreneurs or social enterprises. Through the EaSI Guarantee Instrument, the EIF offers guarantees and counter-guarantees to financial intermediaries, thereby providing them with a partial credit risk protection for newly originated loans to eligible beneficiaries. Intermediaries are selected after an application under a call for expression of interest followed by a due diligence process. Once selected by EIF, these partners act as EaSI financial intermediaries, and start originating loans to eligible beneficiaries within the agreed availability period.

Thanks to the risk-sharing mechanism between the financial intermediaries and the European Commission, the EaSI Guarantee Instrument enables selected microcredit providers and social enterprise finance providers to expand their outreach to underserved micro and social enterprises, facilitating access to finance for target groups who have difficulties in accessing the conventional credit market.

Who can benefit from the EaSI Guarantee Instrument and what products will be offered by EaSI financial intermediaries?

Under the EaSI Guarantee Instrument, EIF provides capped guarantees and counter-guarantees partially covering the portfolio credit risk in the microfinance and social entrepreneurship segments.


Social Entrepreneurship

Portfolios of loans and certain other debt financing products up to EUR 25,000 for: Portfolios of loans and certain other debt financing products  up to EUR 500,000 for:


Vulnerable persons who have lost or are at risk of losing their job, or have difficulty in entering or re-entering the labour market, or are at risk of social exclusion, or are socially excluded, and are in a disadvantaged position with regard to access to the conventional credit market and who wish to start up or develop their own micro- enterprises.


Micro-enterprises in both start-up and development phase, especially micro-enterprises that employ persons as referred to in the above-mentioned definition of micro-borrowers.

Social Enterprises

Enterprises with either an annual turnover not exceeding EUR 30 million or an
annual balance sheet total not exceeding EUR 30 million, which are not
themselves a collective investment undertaking.

Who is eligible to become a financial intermediary under the EaSI Guarantee Instrument?

Eligible financial intermediaries are public and private bodies established on a national, regional or local level in one or several EaSI participating countries, authorised to provide microcredit for persons and micro-enterprises and/or financing for social enterprises.

Examples of intermediaries potentially eligible for an EaSI Guarantee Instrument are:

  • in the field of microfinance: financial institutions, microfinance institutions/microcredit providers, leasing companies, guarantee schemes, guarantee institutions or other institutions authorised to provide microfinance loans/guarantees or risk-sharing structures according to the applicable legislation;
  • in the field of the social entrepreneurship: financial institutions, guarantee schemes, guarantee institutions, foundations, family offices, social investment funds or other institutions duly authorised to provide loans/guarantees or risk-sharing structures according to the applicable legislation.

At the date of publication of the call for expression of interest, the countries covered by the EaSI Programme comprise EU Member States, Albania, North Macedonia, Iceland, Montenegro, Serbia, Turkey, and may include other associated countries having entered into relevant agreements with the European Union. Additional eligible EFTA, Candidate and Potential Candidate countries may be added to the participating countries.

How to apply for the EaSI Guarantee Instrument

For financial institutions:

If you are eligible, you can apply by downloading all the application documents published here below by 30 September 2023. EIF will select intermediaries after a due diligence process.

For micro-enterprises and social enterprises:
Are you looking for a loan? Download here the list of financial intermediaries currently operating under the EaSI Guarantee Instrument.

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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