A. COSME Programme

B. InnovFin – EU Finance for innovators

C. Creative Europe programme

D. EU Programme for Employment and Social Innovation
 

The programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) is improving access to finance for SMEs through two financial instruments

• COSME has a budget of over EUR 1.3 billion to fund these financial instruments that facilitate access to loans and equity finance for SMEs where market gaps have been identified.
• Thanks to this budget, it will be possible to mobilize up to EUR 25 billion in financing from financial intermediaries via leverage effects. The financial instruments are managed by the European Investment Fund (EIF) in cooperation with financial intermediaries in EU countries.
• COSME provides guarantees to small and medium-sized enterprises for loans mainly up to EUR 150 000 when they are at the stage of growth and expansion.
   

• Part of the COSME budget will fund guarantees and counter-guarantees for financial intermediaries (e.g. guarantee organisations, banks, leasing companies) to help them provide more loan and lease finance to SMEs.
• By sharing the risk, the COSME guarantees will allow financial intermediaries to expand the range of SMEs and types of financial transactions they can support. The impact is substantial - due to the leverage effect, every euro invested in a loan guarantee is expected to release up to 30 euros of financing for SMEs.
• It is expected that up to 330,000 SMEs will receive loans backed by COSME guarantees, with the total value of lending reaching up to EUR 21 billion.
   

• SMEs, established and operating in one or more EU Member States and COSME Associated  Countries.
• Supported SMEs should not be carrying out activities breaching ethical principles or focus on one or more EIF restricted sectors. 
   

• Download here the list of financial intermediaries and sub-intermediaries currently operating under the COSME - Loan Guarantee Facility (LGF)
• For information about finance available under further EU initiatives, please visit http://europa.eu/youreurope/business/funding-grants/access-to-finance/
   

• Part of the COSME budget will be dedicated to investments in risk-capital funds that provide venture capital and mezzanine finance to expansion and growth-stage SMEs, in particular those operating across borders
• It is expected that some 500 firms will receive equity financing through the programme, with overall investment reaching up to EUR 4 billion. It is also anticipated that further finance will be attracted through co-investments from other public and private sources
   

• SMEs, established and operating in one or more EU Member States and COSME Associated  Countries.
• Supported SMEs should not be carrying out activities breaching ethical principles or focus on one or more EIF restricted sectors. 
   

• Download the list of financial intermediaries currently operating under COSME EFG from: http://www.eif.org/what_we_do/equity/single_eu_equity_instrument/cosme_efg/intermediaries.pdf 
• For information about finance available under further EU initiatives, please visit http://europa.eu/youreurope/business/funding-grants/access-to-finance
   

• InnovFin financing tools cover a wide range of loans, guarantees and equity-type funding, which can be tailored to innovators’ needs. Financing is either provided directly or via a financial intermediary, most usually a bank or a fund
• InnovFin is available across all eligible sectors in EU Member States and Associated Countries, under the EU Research and Innovation programme Horizon 2020
• With InnovFin – EU Finance for Innovators, the EIB Group can provide financing starting at EUR 25 000 for investments in research and innovation (R&I) to companies and other entities of all sizes and age.
   

• The Creative Europe programme has set up a €121 million guarantee facility, to enhance the access to finance for SMEs in the cultural and creative sector (CCS), operational as of 2016. It will support the scaling up of cultural and creative projects and help the sector in becoming more competitive.
• The European Commission has committed to partially cover financial intermediaries' potential losses when they engage with CCS projects. Coverage will reach up to 70% of individual loans' losses and up to 25% for portfolios.
• A variety of financial products can be proposed by the financial intermediaries: investment in tangible or intangible assets, business transfers, or working capital.
   

• The Employment and Social Innovation (EaSI) programme is a financing instrument at EU level to promote a high level of quality and sustainable employment, guaranteeing adequate and decent social protection, combating social exclusion and poverty and improving working conditions.
• Microloans up to EUR 25 000 to micro-enterprises and to vulnerable persons who wish to set up or develop a micro-company.
   

•  EaSI is managed directly by the European Commission. It brings together three EU programmes : PROGRESS, EURES and Progress Microfinance.

 - PROGRESS  programme supports the modernisation of employment and social policies (61% of the total budget)

 - EURES programme supports job mobility (18% of the total budget)

 - Microfinance and Social Entrepreneurship supports access to micro-finance and social entrepreneurship 

• The total budget for 2014-2020 is EUR 919,469,000