The CDP guarantee with the resources of the COSME Programme
The goal of the initiative is to facilitate access to credit for the enterprises eligible for the European COSME (Competitiveness of Enterprises and SMEs) Programme.
It basically consists of an 80% counter guarantee issued by CDP to the SME Guarantee Fund (SME Fund) on a portfolio of new transactions originated for this category of enterprises, for a maximum value of €3 billion, within the limit of a predetermined ceiling for losses.
CDP in turn benefits from a free 50% hedge issued by the European Fund for Strategic Investments (EFSI) for the COSME Programme and an additional public guarantee of 30% granted against payment by the Ministry of Economy and Finance. The loans eligible for the initiative, particularly those of a nominal amount no higher than €150 thousand and term longer than 12 months, will be automatically included in the portfolio benefitting from the CDP guarantee by the SME Fund. For more information on the features of the initiative and on the requirements to be admitted to the loans, please consult the EFSI website.
This guarantee is made possible through the support of the EU guarantee for Debt Financing with the financial backing of the European Union under the Loan Guarantee Facility established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Programme for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020).
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CDP is committed to strengthening the capital of the Guarantee Fund for SMEs through counter-guarantee initiatives, using public funds from the EU or resources contributed by public or private entities, with the aim of supporting access to public guarantees for Italian companies and professionals