WHAT ADVANTAGES DOES »COSME« PROGRAMME BRING?
By signing the COSME Counter-Guarantee Agreement, the SEF has provided for counter-guarantee of guarantees issued as collateral for bank loans to SMEs at banks that cooperate with SEF. Successful candidature in COSME programme is of utmost importance for SEF, since guarantees as collateral for bank loans are the most important type of incentives for SMEs.
BANK LOAN WITH SEF GUARANTEE AS COLLATERAL IS FASTER, EASIER AND CHEAPER FOR SMEs
Guarantees issued by the Fund as collateral for bank loans, which the SMEs obtain from one of the participating banks, means easier, faster and cheaper access of micro, small and medium sized companies to bank loans, which will be particularly shown in lower requirements for additional collateral for bank loans that burdens the entrepreneur.
THE FUND COLLABORATED WITH EIF BEFORE
Cooperation between SEF and EIF took place also within the European Competitiveness and Innovation Framework Programme (CIP) during 2007-2013. During the three-year period of Counter-guarantee Agreement validity, the Fund issued:
· 937 guarantees,
· In total amount of 152,83 m EUR,
· Providing investments of around 390 m EUR for the economic environment.
The companies that received the EIF-CIP counter-guarantee in the validity period created on average 1,9 new jobs per company – in total around 1.780 new jobs and increased value added per employee for 9% in the three years after the concluded investment.