EU-guaranteed loans for SMEs in the Czech Republic
Access of small and medium-sized enterprises (SMEs) to venture capital in the Czech Republic will be easier thanks to the new guaranteed loans from the European Union offered within the Horizon 2020 program totaling 6,950 mil. CZK for the next two years.
The European Investment Fund (EIF) signed an agreement with two Czech banking institutions - Česká spořitelna and Komerční banka, which allows both banks to conclude guaranteed loans for innovative SMEs.
Loans financing innovation activities
Loans to finance innovation activities will be guaranteed up to 50% by the European Investment Fund and the European Union (EU) under InnovFin SME Guarantee, which targets early and development stage companies. This is part of a new generation of financial instruments supported under the European program Horizon 2020.
InnovFin SME Guarantee Facility provides guarantees and counter-guarantees on debt financing in order to improve access to loan finance for innovative small and medium-sized enterprises (up to 499 employees). The financial instrument is managed by the EIF and through financial intermediaries - banks and other financial institutions - and is being implemented in EU Member States and Associated countries. Financial intermediaries from the EIF have guaranteed coverage of their losses caused by debt financing used under this instrument
More information HERE.