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
VentureEU
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
DISPOSITIF INSTRUMENTS FINANCIERS BOURGOGNE FRANCHE-COMTÉ
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)
EstFund
Call for Expression of Interest for FOSTER II
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE
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

European Progress Microfinance Facility - Questions & Answers

For Individuals and Micro-enterprises:
  1. Who is eligible to receive financing?
  2. How will financing under the Facility be provided?
  3. What type of support is available?
  4. Which countries can participate in the Facility?
  5. How can I apply for financing?
  6. Where can I find information about microfinance providers in my area?
  7. What will it cost to apply for financing?
  8. How long will it take to receive financing?
Download the Questions & Answers for Individuals & Micro-enterprises in .pdf format

1. The European Progress Microfinance Facility is an EU initiative to support entrepreneurship and employment through microfinance activities. Progress Microfinance targets micro-entrepreneurs, including the self-employed, or individuals facing uncertainty in the job market who wish to set up their own micro-enterprises. It has a particular focus on, but is not restricted to, groups with limited access to the conventional credit market such as female entrepreneurs, young entrepreneurs, entrepreneurs belonging to a minority group, entrepreneurs with a disability, sole traders, etc.
Back to Top

2. The EIF does not provide direct financing to micro-enterprises or individuals. Financing is made available through intermediaries participating in the Facility. Eligible intermediaries are any public and private institutions that provide microfinance loans and/or guarantees to individuals, or micro-enterprises established in the EU Member States. Eligibility criteria and financing conditions will be established by each intermediary participating in Progress Microfinance and may vary accordingly to the local market.
Back to Top

3. Intermediaries will provide beneficiaries with micro-credit guarantees (direct or counter-guarantees) different forms of loans, and equity. The financing can be used for the setup and/or development of micro-enterprises, including for investment, leasing, and working capital needs, as well as the acquisition of licenses and other start-up costs. Financing cannot be used to cover credit lines such as overdrafts or short-term revolving facilities.
Back to Top

4. Intermediaries operating in all the EU Member States are eligible to apply for support under the European Progress Microfinance Facility.
Back to Top

5. Please note that the EIF will not provide direct financing to micro-enterprises or individuals. The EIF cooperates with microfinance intermediaries who will make micro-credits available to micro-enterprises or individuals. Thus, interested micro-enterprises or individuals should contact intermediaries in their specific region or country to learn about specific application requirements and procedures in the local market.
Back to Top

6. The intermediaries participating in the Facility are listed on this page: http://www.eif.org/what_we_do/microfinance/progress/Progress_intermediaries.htm The list will be regularly updated as soon as a new agreement is signed.

Back to Top

7. Interest rates and fees will be set by the intermediaries offering financial support under the European Progress Microfinance Facility and will vary in each case. For detailed information, we advise you to contact the respective intermediary directly.
Back to Top

8. The timeframe will depend on the specific procedures and guidelines of the respective intermediary and can thus vary.
Back to Top




For intermediaries:

1. What is the European Progress Microfinance Facility ?
2. How does Progress Microfinance work ?
3. What products are available ?
4. What intermediaries are eligible ?
5. How can interested institutions become an intermediary ?
6. How will intermediaries be selected?
7. What are the benefits of becoming an intermediary under Progress Microfinance ?
8. What is the cost for intermediaries?
9. How does EPMF relate to other EIF microfinance programmes?

Download the Questions & Answers for Financial intermediaries in .pdf format

1. The European Progress Microfinance Facility is a microfinance initiative established with EUR 200 million of funding from the European Commission and the European Investment Bank. EPMF aims to increase access to finance for micro-entrepreneurs, including the self-employed. It has a particular focus on, but is not restricted to, groups with limited access to the conventional credit market. Examples include female entrepreneurs, young entrepreneurs, entrepreneurs belonging to a minority group, entrepreneurs with a disability, sole traders, etc.
Back to Top

2. EIF is managing Progress Microfinance. Financial products are made available through eligible intermediaries participating in the facility. EIF does not provide direct financing to micro-entrepreneurs or individuals.
Back to Top

3. Progress Microfinance offers two product lines to eligible intermediaries:

  • micro-credit guarantees (direct or counter-guarantees)
  • funded instruments (different forms of loans and equity investments)

With the support from Progress Microfinance, intermediaries can enhance their capacity to provide micro-credits and guarantees on micro-credits.
Back to Top

4. Eligible intermediaries are any public and private institutions that provide micro-loans and/or guarantees to individuals or micro-enterprises established in the EU Member States.
Back to Top

5. If you are interested in the micro-credit guarantees under Progress Microfinance, please send an application in line with the procedure publicised this website. The website contains detailed information on the specific application requirements and procedures. You may also contact the EIF Guarantees Team directly for further guidance.

Back to Top

6. EIF will select intermediaries after carrying out a detailed due diligence based on established selection criteria including financial standing, financing capacity, operational capabilities, and expected impact (e.g. volumes and geographical reach). Following approval by the EIF, contractual arrangements will be set up with the selected intermediaries.
Back to Top

7. Depending on the nature and strategy of each institution, there are various benefits of becoming an intermediary under Progress Microfinance:

  • Increase loan volumes and possibility to gain new customers
  • Attract new investors from the private sector and reinforce shareholding structure in order to reach sustainability
  • Develop pilots and build economies of scale
  • Adopt sustainable measures to promote employment
    Back to Top

8. For the guarantees component, no fees other than a potential commitment fee apply. As for funded instruments, pricing to intermediaries reflects market conditions and takes into account applicable reference rates, country and counterpart risk premium, competition, and expense coverage.
Back to Top

9. This Facility complements existing EU microfinance initiatives through a diverse product range which includes new funded instruments such as senior and subordinated loan facilities, funded risk-sharing products, and equity participations. Additionally, the Facility seeks to have a different angle of impact through its particular focus on boosting employment while promoting social inclusion, especially in light of the adverse effects of the current financial environment. With the launch of Progress Microfinance, EU-based microfinance intermediaries will now benefit from a wider scope of EIF-managed initiatives targeting different market segments and stages of maturity. Under further EIF-managed microfinance programmes, intermediaries can benefit from support for self-employment and micro-entrepreneurship as well as technical assistance, seed funding, funding for expansion, and risk protection.
Back to Top

 

We use cookies to give the best browser experience on our website. or change cookie settings.

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.

 
 

Copyright ©

 European Investment Fund   – The European Investment Fund is not responsible for the content of external internet sites.