The Programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) focuses on the specific needs of SMEs at European and global level. Its general objectives are to strengthen the competitiveness and sustainability of the Union’s enterprises, to encourage an entrepreneurial culture and to promote the creation and growth of SMEs.

COSME improves access to finance for SMEs through two financial instruments, the Loan Guarantee Facility (LGF) and the Equity Facility for Growth (EFG) .COSME has a budget of over EUR 1.3 billion to fund these financial instruments that facilitate access to loans and equity finance for SMEs where market gaps have been identified.

Thanks to this budget, it will be possible to mobilise up to EUR 25 billion in financing from financial intermediaries via leverage effects. The financial instruments are managed by the European Investment Fund (EIF) in cooperation with financial intermediaries in EU countries.

The Loan Guarantee Facility (LGF)
Part of the COSME budget will fund guarantees and counter-guarantees for financial intermediaries (e.g. guarantee organisations, banks, leasing companies) to help them provide more loan and lease finance to SMEs. This facility will also include the securitisation of SME debt-finance portfolios.

The Equity Facility for Growth (EFG)
Part of the COSME budget will be dedicated to investments in risk-capital funds that provide venture capital and mezzanine finance to expansion and growth-stage SMEs, in particular those operating across borders.

If you are looking for in-depth information on EU funding programmes and calls for proposals you can generate your unique profile by visiting the YourEUprofile website.