BRATISLAVA, August 21, (WEBNOVINY) – Small and medium-sized enterprises in Slovakia can obtain support from the JEREMIE initiative – Joint European Resources for Micro to Medium Enterprises. “The European Investment Fund (EIF) has launched the first open competition, the so-called invitation to submit applications for bank guarantees for loans. Financial intermediaries that extend loans to small and medium-sized companies can apply within the call,” the Economy Ministry of the Slovak Republic stated. The EIF will subsequently analyze the applicants and pick suitable financial intermediaries.
Bank guarantees will be financed from the Operational Program Competitiveness and Economic Growth. The corresponding 38-million-euro allocation is expected to enhance creation of a new credit portfolio for SMEs in value of more than EUR 200 million. The deadline for application submission is October 14 of this year. The selected financial intermediaries will use the standard credit assessment, while they are expected to offer more advantageous lending terms, according to the ministry.
A call related to venture capital tools is to follow in the near future. Venture capital has not yet developed much in Slovakia but there is great potential for its utilization due to business environment improvements. What is more, tax laws enable enterprises to use this form of financing to a broader extent. Economy Minister Juraj Miskov considers the venture capital offer considerable help and assistance for Slovak businesses.
SITA