December 09, 2011

New financing stream for SME research & innovation


A new guarantee facility to assist innovative small and medium-sized enterprises (SMEs) with accessing finance for investment in research and innovation activities was launched by the European Commission and the European Investment Bank (EIB) on 5 December. The risk-sharing instrument (RSI) for SMEs is modeled on the success of the large-scale Risk-Sharing Finance Facility (RSFF) under the 7th Research Framework Programme as a means of unlocking significant new investment for firms.

The RSI version will be managed by the European Investment Fund (EIF) which will provide participating banks with
guarantees covering specific lending to SMEs undertaking research, development or innovation, for investments in assets (tangible or intangible) and/or working capital. The loans and leases may amount to between EUR25,000 and EUR7.5 million (an average of EUR2.4 million is estimated in each case with repayment periods over two to seven years. This will have the effect of freeing up more affordable lending. It is being particularly aimed towards enabling dynamic and fast-growing start-up SMEs to grow their businesses.

It is intended to expand the scheme from 2014 onwards as part of the Horizon 2020 Framework Programme for Research & Innovation. In the meantime, up to EUR1.2 billion is expected to be unlocked by banks for SME use over the next two years.

Additionally, the EIB and the Commission will provide EUR300 million for research infrastructure.

Further details: http://europa.eu/rapid/pressReleasesAction.do?reference=IP/11/1505&format=HTML&aged=0&language=EN&guiLanguage=en

Posted by iroronan at December 9, 2011 12:01 PM

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New financing stream for SME research & innovation
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