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AWS and EIF support 1500 SMEs with counter-guarantees


Austria is the first European country which benefits from the new COSME program of the EU. With resources provided by InnovFin (the “EU-pot” for innovations) the Austrian federal promotional bank (aws) and the European Investment fund (EIF) were able to mobilise a guarantee of about 290 million euros for the SME sector. Thereby the costs for guarantees will be reduced by a third, which will be an advantage for 1500 SMEs. The new guarantees will be available for every business, which receives funding by aws regardless of the sector or region. At the moment these are manufacturing companies and the IT-sector.

What is the COSME program and InnovFin?

The COSME program by the EU finances bank guarantees in order to fund the granting of new credits and leasing financing (up to 150,000 euros) for SMEs. The second EU program InnovFin offers SME guarantees for financing operations with a volume of up to 7.5 million euros.

For more information please don’t hesitate to contact our expert Mr. Peter Baumgartner (+43 (1) 533 10 90 – 12+43 (1) 533 10 90 – 12; peter.baumgartner@m27.eu).