1

"Jornada Presentación

Programas Europeos PYMEs"

16 April 2015

Direccion-General para el Mercado Interior, Industria,

Emprendimiento y PYMEs

Unit F.3

2

Instrumentos Finacieros Europeos

para las PYMEs

SMEinitiative

Visión de conjunto: 2014-2020

H2020InnovFin

ESIFStructural & Invest.

Funds

EaSI

Creative Europe

Erasmus+

COSME

3

Env/energy

Horizon 2020 (InnovFin) (€2.7bn)Guarantees to RDI-driven/ innovative SMEs & small midcaps between

€25k and €7.5m and ambitious RDI projects (Call published)

risk capital at the early and start-up phase (call expected 2015)

Financing of large innovation projects

Loans, guarantees, venture

capital/equity or grants for

SMEs

- EU level instrument(contribution of Member State funds

from Operational Programmes to

centrally managed EU programs)

- Off-the shelf instruments

- Tailor-made instruments

COSME (€1.4bn)

Guarantees with a particular focus on financing of SMEs up to €150.000 (Call published)Risk capital predominantly into SMEs at the growth and expansion stage (Call published)

Social Change

& Innovation (€193m)Microfinance to micro-enterprisesInvestments of up to €500.000 to social enterprises (call expected Q2 2015)

European Structural and

Investment Funds (ESIF)

Central EU instruments

Jo

bs,

Gro

wth

an

d

So

cia

l C

oh

es

ion

Creative Europe (€120m)Guarantees for cultural and

creative sector (call expected end

2015/ 2016)

Re

se

arc

h,

Develo

pm

en

t,

Inn

ova

tio

n

EU Financial Instruments (2014-2020)

En

erg

y,

Cli

ma

te

Private Finance for Energy Efficiency (€80m) Financing for energy efficiency enhancing projects (Call published)

Natural Capital Financing Facility (€100m) Financing of projects which promote the preservation of natural capital,

including adaptation to climate change (call expected)

How do EU financial instruments work in practice – overview

5

6

CIP and COSME

Results achieved: CIP (2007-13+)

Debt financing (as of 31/12/14)

Approx. 368,000 SMEs

€ 19.3 bn of financing

Equity financing (as of 30/9/14)

Over 400 beneficiaries

€ 3 bn of financing

90% of beneficiaries: micro

7

8

Support those SMEs which would otherwise not obtain financing (concept of additionality)

Debt: focus on higher risk SMEs

Equity: focus investments into risk capital funds which target SMEs in their growth and expansion phase

Overall target: Provide support to up to 330,000 SMEs; provide up to € 25 billion in financing

Policy objective of the COSME financial instruments

Loan guarantees - details

• SMEs in EU28 or participating counties

• through debt financial intermediaries (banks, guarantee societies etc.)Beneficiaries

• capped, portfolio, free of charge, first loss guarantee

• (guarantee rate: ≤50%, cap rate: ≤20%), securitisation optionGuarantees

• transactions with a higher risk profile

• e.g. start-ups, less collateral, longer maturityAdditionality

• transaction (loan): min 12 months

• guarantee: max 10 yearsDuration

• ≤ € 150.000: every SME

• > € 150.000: SME not qualifying for InnovFin (H2020)Amount

• wide range: working capital, investment loans,

• subordinated loans, bank guarantees, leasingProducts

• guarantee payment upon default

• pro-rata sharing of recoveriesTerms9

Equity facility - details

• growth SMEs (UE 28+)

• through VC funds (+ funds of funds)Beneficiaries

• minimum eligibility criteria:

• e.g. investment focus, management team, reportingEligibility

• funds must contribute to the creation of a pan-European VC marketAdditionality

• long-term investments (5 to 15 year positions)Duration

• 7,5% - 25% of total VC fund capital,

• max € 30 mlnAmount

• possibility of joint investments with InnovFin (Horizon 2020) -

• - pro-rata funding for multi-stage fundsType of funds

• possibility of co-investments with business angels

• - as long as minimum eligibility criteria are metBusiness angels10

COSME call for expression of interest

Financial institutions invited to apply by 30 Sept 2020

• Debt facility (to provide guarantees and counter-guarantees to cover loans for SMEs with a particular focuson financing of SMEs up to €150.000)• http://www.eif.org/what_we_do/guarantees/single_eu_debt_instrume

nt/cosme-loan-facility-growth/index.htm

• Equity facility (to invest in SMEs predominately at thegrowth & expansion stage)• http://www.eif.org/what_we_do/equity/single_eu_equity_instrument/c

osme_efg/index.htm

11

12

Access to Finance Portal

Access to Finance Days

Enterprise Europe Network

13

Information and awareness raising

Access to finance portal

Single portal to all EU financial instruments

• Coverage: CIP, COSME, EIB, EIF, InnovFin, Progress Microfinance, RSFF, RSI, Structural Funds, WB EDIF

• All EU languages, 38 countries with over 1200 intermediaries

• Access to more than 100 bn euros of financing

www.access2finance.eu

New features

Coverage in 38 countries, 1200 FIs

+

EU Access to Finance Days

• Discussing the design of future instruments for the programming period 2014-20 between the key SME finance stakeholders & financial intermediariesunder the current EU programmes

• Organised in all Member States for organisations representing SMEs, financial institutions and potential intermediaries of EU programmes, policy makers representing national and/or regional authorities, chambers of commerce and business associations

18

19

EUAccess to FinanceDays2015

• One-stop-shop for SMEs: Enterprise Europe Network

• 600 organisations in 53 countries

• EU funding and legislation for doing business in the EU

• Cross-border business cooperation, R&D and technology transfer

• Doing business on international markets beyond the EU

• + Feedback to the Commission

20

Advice and support for SMEs

21

Thank you for your attention