{"id":464,"date":"2014-07-25T13:24:52","date_gmt":"2014-07-25T13:24:52","guid":{"rendered":"http:\/\/www.miningtheseem.org.uk\/?p=464"},"modified":"2014-07-25T13:24:52","modified_gmt":"2014-07-25T13:24:52","slug":"new-eu-intermediary-funds-for-smes-announced","status":"publish","type":"post","link":"http:\/\/www.miningtheseem.org.uk\/?p=464","title":{"rendered":"New EU intermediary funds for SME&#8217;s announced"},"content":{"rendered":"<div class=\"getty-images\">\n<div style=\"background-color: #fff; display: inline-block; font-family: 'Helvetica Neue',Arial,sans-serif; color: #a7a7a7; font-size: 11px; width: 100%; max-width: 338px; min-width: 300px;\">\n<div style=\"overflow: hidden; position: relative; height: 0; padding: 150.000000% 0 49px 0; width: 100%;\"><iframe loading=\"lazy\" style=\"display: inline-block; position: absolute; top: 0; left: 0; width: 100%; height: 100%;\" src=\"\/\/embed.gettyimages.com\/embed\/146636699?et=n9ASEM6hQiJkd8uZhc1Pjg&amp;sig=LiPV6OiajZU7vDytYA0aNOuzu5g0A29VvhLbngUn-2k=\" width=\"338\" height=\"556\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/div>\n<div style=\"padding: 0; margin: 4px 0 0 10px; text-align: left;\"><a style=\"color: #a7a7a7; text-decoration: none; font-weight: normal !important; border: none; display: inline-block;\" href=\"http:\/\/www.gettyimages.com\/detail\/146636699\" target=\"_blank\">#146636699<\/a> \/ <a style=\"color: #a7a7a7; text-decoration: none; font-weight: normal !important; border: none; display: inline-block;\" href=\"http:\/\/www.gettyimages.com\" target=\"_blank\">gettyimages.com<\/a><\/div>\n<\/div>\n<\/div>\n<p><strong>The EU made two major announcements this week, about programmes across Europe. Designed to sustain SME&#8217;s, who lack the collateral to enjoy secured lending. The announcements represent a new cohort of funds to broaden the business base of the small business sector.<\/strong><\/p>\n<p>The European Commission and the European Investment Fund (EIF) will deliver a new 100 million Euro fund. The Fund will be to bring new ideas to market. The Fast Track to Innovation (FTI) Fund will be available in 2015 and 2016.<\/p>\n<p>Consortia of three to five members will be free to bid for the funds at any time. &#8216;EU officials expect grants to be between \u20ac1m and \u20ac2m&#8217;.<\/p>\n<p>The executive also signed an agreement with the European Investment Fund. The Commission said &#8216;&#8230;this would open up \u20ac25 billion of potential finance for SMEs over the next seven years&#8217;.<\/p>\n<p>The EIF provides risk finance to SME&#8217;s across Europe. It will give \u20ac1.3billion for SME financing, under the EU Competitiveness of Enterprises Programme.<\/p>\n<p>The EIF will give that money to financial intermediaries such as banks or funds, who will in turn make it available to SMEs.<\/p>\n<p>The EIF will appoint the intermediaries. There will be a call for expressions of interest and a due diligence process.<\/p>\n<p>The Commission estimates that up to 330,000 SMEs will receive loans backed by the guarantees. Total lending will hit \u20ac21 billion. An average guaranteed loan will be \u20ac65,000 per firm.<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/www.miningtheseem.org.uk\/wp-content\/uploads\/2013\/07\/internetIconMini.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-288\" src=\"https:\/\/i0.wp.com\/www.miningtheseem.org.uk\/wp-content\/uploads\/2013\/07\/internetIconMini.png?resize=16%2C16\" alt=\"internetIconMini\" width=\"16\" height=\"16\" \/><\/a>\u00a0\u00a0See the original <a title=\"Discover more about these Fast Track funds here...\" href=\"http:\/\/europa.eu\/rapid\/press-release_IP-14-849_en.htm\" target=\"_blank\">EU Fast Track to Innovation Press Release here&#8230;<\/a><\/p>\n<p><a href=\"https:\/\/i0.wp.com\/www.miningtheseem.org.uk\/wp-content\/uploads\/2013\/07\/internetIconMini.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-288\" src=\"https:\/\/i0.wp.com\/www.miningtheseem.org.uk\/wp-content\/uploads\/2013\/07\/internetIconMini.png?resize=16%2C16\" alt=\"internetIconMini\" width=\"16\" height=\"16\" \/><\/a>\u00a0\u00a0See the web pages of <a title=\"The web pages of COSME, better access to finance for SME's...\" href=\"http:\/\/ec.europa.eu\/enterprise\/initiatives\/cosme\/access-to-finance-smes\/index_en.htm\" target=\"_blank\">COSME, better finance for business here&#8230;<\/a><\/p>\n<figure id=\"attachment_7\" aria-describedby=\"caption-attachment-7\" style=\"width: 295px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/i0.wp.com\/www.miningtheseem.org.uk\/wp-content\/uploads\/2013\/07\/seemButton.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-7\" src=\"https:\/\/i0.wp.com\/www.miningtheseem.org.uk\/wp-content\/uploads\/2013\/07\/seemButton.jpg?resize=295%2C92\" alt=\"Ethical business with a social dimension...\" width=\"295\" height=\"92\" \/><\/a><figcaption id=\"caption-attachment-7\" class=\"wp-caption-text\">Ethical business with a social dimension&#8230;<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>#146636699 \/ gettyimages.com The EU made two major announcements this week, about programmes across Europe. Designed to sustain SME&#8217;s, who lack the collateral to enjoy secured lending. The announcements represent a new cohort of funds to broaden the business base of the small business sector. The European Commission and the European Investment Fund (EIF) will &hellip; <a href=\"http:\/\/www.miningtheseem.org.uk\/?p=464\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">New EU intermediary funds for SME&#8217;s announced<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141,61,139,140,142,12],"tags":[34,143,46,33,144,216,103],"class_list":["post-464","post","type-post","status-publish","format-standard","hentry","category-banking","category-community-economics-2","category-european-union","category-funding-2","category-intermediary","category-sme-support","tag-enterprise-growth","tag-eu","tag-funding","tag-investment-effectiveness","tag-risk-capital","tag-seem","tag-sustainability"],"_links":{"self":[{"href":"http:\/\/www.miningtheseem.org.uk\/index.php?rest_route=\/wp\/v2\/posts\/464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.miningtheseem.org.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.miningtheseem.org.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.miningtheseem.org.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.miningtheseem.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=464"}],"version-history":[{"count":0,"href":"http:\/\/www.miningtheseem.org.uk\/index.php?rest_route=\/wp\/v2\/posts\/464\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.miningtheseem.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.miningtheseem.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=464"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.miningtheseem.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}