EIF and Belfius Bank have signed a guarantee agreement to support Small and Medium-sized Enterprises (SMEs) in Belgium.
This transaction, signed under the Competitiveness and Innovation Programme (CIP), will allow start-up companies to have easier access to finance while also benefiting from substantially reduced collateral requirements.
The CIP guarantee will cover the SME investment loans granted by Belfius Bank to start-ups. The deal is expected to generate a new portfolio of loans worth up to €450m over the next two years.
2,000 Belgian start-up companies are expected to benefit from this transaction, gaining access to loans of up to €500k.