1. MICRO: Enhancing Competitiveness of Micro-enterprises in Rural Areas
Module No 8. EU Single Market Opportunities for Rural Micro-enterprises
Prepared by the Consortium for the project: “Irish Rural Link – National University of Ireland Maynooth- CDI – EEO GROUP SA- IHF asbl – IDP - Internet Web Solutions SL”

2. Using COSME and other EU financial Instruments
Overview
How many slides?
17 slides in total
How long to read and listen?
15 minutes (not including exploring the links provided within slides)
What is the benefit?
See aim and expected learning in following slides

3. Using COSME and other EU financial Instruments
Unit Aim
The purpose of this unit is to present as much as possible the key features of the EU's main financial instruments.

4. Using COSME and other EU financial Instruments
Expected Learning Outcomes
At the end of this unit you will be able to:
Understand the E.U. funding mechanisms for micro-enterprises.
Select the appropriate financial instrument for your business.

5. Main E.U. financial instruments for SMEs
Using COSME and other EU financial Instruments
Main E.U. financial instruments for SMEs
A. COSME Programme
B. InnovFin – EU Finance for innovators
C. Creative Europe programme
D. EU Programme for Employment and Social Innovation

6. Using COSME and other EU financial Instruments
A. COSME Programme
The programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) is improving access to finance for SMEs through two financial instruments
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 mobilize 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.
COSME provides guarantees to small and medium-sized enterprises for loans mainly up to EUR when they are at the stage of growth and expansion.

7. The Loan Guarantee Facility (LGF)
Using COSME and other EU financial Instruments
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.
By sharing the risk, the COSME guarantees will allow financial intermediaries to expand the range of SMEs and types of financial transactions they can support. The impact is substantial - due to the leverage effect, every euro invested in a loan guarantee is expected to release up to 30 euros of financing for SMEs.
It is expected that up to 330,000 SMEs will receive loans backed by COSME guarantees, with the total value of lending reaching up to EUR 21 billion.

8. COSME LFG Beneficiaries
Using COSME and other EU financial Instruments
COSME LFG Beneficiaries
SMEs, established and operating in one or more EU Member States and COSME Associated Countries.
Supported SMEs should not be carrying out activities breaching ethical principles or focus on one or more EIF restricted sectors.

9. How to apply for COSME LFG
Using COSME and other EU financial Instruments
How to apply for COSME LFG
Download here the list of financial intermediaries and sub-intermediaries currently operating under the COSME - Loan Guarantee Facility (LGF)
For information about finance available under further EU initiatives, please visit 

10. The Equity Facility for Growth (EFG)
Using COSME and other EU financial Instruments
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
It is expected that some 500 firms will receive equity financing through the programme, with overall investment reaching up to EUR 4 billion. It is also anticipated that further finance will be attracted through co-investments from other public and private sources

11. COSME EFG Beneficiaries
Using COSME and other EU financial Instruments
COSME EFG Beneficiaries
SMEs, established and operating in one or more EU Member States and COSME Associated Countries.
Supported SMEs should not be carrying out activities breaching ethical principles or focus on one or more EIF restricted sectors.

12. How to apply for COSME LFG
Using COSME and other EU financial Instruments
How to apply for COSME LFG
Download the list of financial intermediaries currently operating under COSME EFG from:
For information about finance available under further EU initiatives, please visit 

13. B. InnovFin – EU Finance for innovators
Using COSME and other EU financial Instruments
B. InnovFin – EU Finance for innovators
InnovFin financing tools cover a wide range of loans, guarantees and equity-type funding, which can be tailored to innovators’ needs. Financing is either provided directly or via a financial intermediary, most usually a bank or a fund
InnovFin is available across all eligible sectors in EU Member States and Associated Countries, under the EU Research and Innovation programme Horizon 2020
With InnovFin – EU Finance for Innovators, the EIB Group can provide financing starting at EUR for investments in research and innovation (R&I) to companies and other entities of all sizes and age.

14. C. Creative Europe programme
Using COSME and other EU financial Instruments
 C. Creative Europe programme
The Creative Europe programme has set up a €121 million guarantee facility, to enhance the access to finance for SMEs in the cultural and creative sector (CCS), operational as of It will support the scaling up of cultural and creative projects and help the sector in becoming more competitive.
The European Commission has committed to partially cover financial intermediaries' potential losses when they engage with CCS projects. Coverage will reach up to 70% of individual loans' losses and up to 25% for portfolios.
A variety of financial products can be proposed by the financial intermediaries: investment in tangible or intangible assets, business transfers, or working capital.

15. D.EU Programme for Employment and Social Innovation (EaSI) (1/2)
Using COSME and other EU financial Instruments
D.EU Programme for Employment and Social Innovation (EaSI) (1/2)
The Employment and Social Innovation (EaSI) programme is a financing instrument at EU level to promote a high level of quality and sustainable employment, guaranteeing adequate and decent social protection, combating social exclusion and poverty and improving working conditions.
Microloans up to EUR to micro-enterprises and to vulnerable persons who wish to set up or develop a micro-company.

16. Using COSME and other EU financial Instruments
D.EU Programme for Employment and Social Innovation (EaSI) (2/2)
EaSI is managed directly by the European Commission. It brings together three EU programmes : PROGRESS, EURES and Progress Microfinance.
- PROGRESS programme supports the modernisation of employment and social policies (61% of the total budget)
- EURES programme supports job mobility (18% of the total budget)
- Microfinance and Social Entrepreneurship supports access to micro-finance and social entrepreneurship
The total budget for is EUR 919,469,000

17. Thank you for your attention 
End of Module
Thank you for your attention 