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Thursday, November 28, 2019

Spanish start-up and mid-caps financed by the Investment Plan for Europe

Industry, Innovation, Economy - Finances, SME Policy,Corporations,SMEs,-,

News More than 60 million euros invested by the European Investment Bank (EIB) for the first-ever securitisation of loans, a new direct lending platform called Spoke Capital.

This newly established platform will support Spanish SMEs and mid-caps with long-term financing opportunities that complement the offer of traditional lenders. The agreement is supported by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe, also known as the Juncker Plan.

The deal signed today by EIB Vice-President Emma Navarro and Be-Spoke Capital CEO Lars Schmidt-Ott will bring the benefits of favourable EIB funding conditions to eligible borrowers in the underlying portfolio. The successful closing of the securitisation transaction will replenish Be-Spoke Capital’s origination capacity and increase lending to Spanish companies.

Source :  European Investment Bank


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