Investment & Fund Management
The European Investment
Full Credential Description
The European Investment Fund (EIF) partnered with ?eskoslovenská obchodná banka (CSOB) to address the financing challenges faced by Small and Medium-sized Enterprises (SMEs) in Slovakia. The specific issue was the limited access to finance for these businesses, which often struggle with high collateral requirements and insufficient working capital options.
To tackle this, the EIF and CSOB signed two Guarantee Agreements under the Competitiveness and Innovation Programme (CIP). This initiative aimed to enhance lending capabilities for micro and SMEs by introducing a new working capital term loan product with reduced collateral requirements. The tailored solution was designed to significantly increase CSOB's lending volumes, thereby facilitating easier access to finance for over 6,000 Slovak SMEs.
As a result of these agreements, it is projected that a new portfolio of loans worth approximately EUR 140 million will be generated over the next three years. This financial support is expected to empower Slovak entrepreneurs to develop their businesses, contributing positively to the local economy, especially in a challenging economic environment.