The InnovFin Programme - Financing Innovative Projects

The European Investment Fund (EIF) and ProCredit Group signed an agreement that will increase lending to innovative SMEs and MidCaps. 

The programme is supported by the InnovFin SME Guarantee Facility, with the financial backing of the European Union under Horizon 2020 Financial Instruments. 


This new agreement will allow the ProCredit Group to finance innovative enterprises with EUR 820 million through ProCredit Banks in Germany, Greece, Ukraine, Georgia, Albania, Bosnia and Herzegovina, Bulgaria, Macedonia, Moldova, Romania and Serbia. The advantage to these banks is in the opportunity to utilise guarantees, secured by the EIF and supported by Horizon 2020 - the EU Framework Programme for Research and Innovation. This is the first comprehensive InnovFin SMEs guarantee signature covering these countries and enabling the mentioned ProCredit banks to offer innovative enterprises additional lending by reducing their collateral requirements, without transferring the cost of increased risk on to the client.
What is InnovFin and who is it intended for? 
  • InnovFin represents part of a joint initiative between the European Investment Fund (EIF) and the European Union
  • The initiative is designed to facilitate access to finance innovative projects
  • It focuses on small and medium-sized enterprises as well as on small enterprises with medium market capitalization of up to 500 employees 
  • The InnovFin Programme is firstly focused on enterprises that are orientated towards development and innovative activities, companies that invest in new technologies and energy efficiency and who follow market trends for the purpose of improving operations
  • Innovation is understood as those investments that are new for the company and which contribute to its modernisation as well as being in accordance with the predefined criteria of the EIF.

What does the InnovFin Fund mean to our clients?
  • The the InnovFin Programme at ProCredit banks, as the only bank on the market that can provide this type of guarantee, stimulating our clients towards innovation and providing them with the opportunity to increase competitiveness  
  • Reduced collateral requirements 
  • Better interest rates in relation to standard loans

The criteria that clients have to fulfil in order to apply for the InnovFin Guarantee Fund are as follows:
  • Financing innovative projects 
  • The minimum loan amount is EUR 25,000, and the maximum individual amount per client is EUR 7.5 million
  • The loans may be investment loans, revolving or working capital
  • The minimum maturity is 12 months, and the maximum maturity is 10 years

For more detailed information regarding the InnovFin Programme, please contact your Advisor or the Info Centre.