€1 billion to support Swedish SMEs

The European Investment Fund has signed a guarantee agreement worth SEK 1 billion (around €94 million) under the EU’s COSME programme with Collector Bank to support its lending to SMEs in Sweden.

The European Investment Fund (EIF) has signed the first COSME guarantee agreement in Sweden, with Collector Bank.

The deal falls under the “COSME Loan Guarantee Facility”, which is backed by the European Fund for Strategic Investments (EFSI), heart of the Investment Plan for Europe. The EIF will provide a guarantee of SEK 500 million (around €47 million) to allow Collector Bank to issue new loans with more favourable conditions., i.e. no collateral requirements.