The InnovFin Programme

The European Investment Fund (EIF) and the ProCredit group have signed an agreement that will increase lending to innovative SMEs and mid-caps.

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

innovfin logos

This new agreement will allow the ProCredit group to finance innovative enterprises with EUR 820 million through the ProCredit banks in Germany, Greece, Ukraine, Georgia, Albania, Bosnia and Herzegovina, Bulgaria, Macedonia, Moldova, Romania and Serbia. The advantage to these banks is 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 SME guarantee facility covering these countries and enabling the mentioned ProCredit banks to offer innovative enterprises additional lending by reducing the collateral requirements, without passing the cost of increased risk on to the client.

What is InnovFin and who is it intended for?

InnovFin is part of a joint initiative between the European Investment Fund (EIF) and the European Union. The initiative is designed to facilitate access to finance for innovative projects.

It focuses on small and medium-sized enterprises as well as on small enterprises with medium market capitalisation of up to 500 employees. The InnovFin Programme’s primary focus is enterprises oriented towards development and innovative activities, companies that invest in new technologies and energy efficiency measures, and which follow market trends for the purpose of improving operations.

Innovation is understood as investments which are new for the company and which contribute to its modernisation as well as meet the EIF’s predefined criteria.

What does the InnovFin Fund mean to our clients?

The InnovFin Programme at ProCredit bank, the only bank on the market providing this type of guarantee, encourages our clients to innovate and provides them with the opportunity to increase their competitiveness.

Reduced collateral requirements, as all users are provided with more favourable interest rates than those offered for standard loans.

The criteria for receiving a loan from the InnovFin Guarantee Fund include:

  • Financing innovative projects
  • Minimum loan amount: EUR 25,000, maximum amount per client: EUR 7.5 million
  • Loans can be investments, revolving or intended for working capital
  • Minimum maturity is 12 months, maximum maturity is 10 years

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