DSK Bank will use a guarantee for granting investment loans, working loans, credit lines and overdrafts to small and medium-sized enterprises. The program includes lending to companies from all sectors of the economy, with the exception of traditionally excluded companies (production and trade in alcohol, gambling, weapons, etc.). The amount of the guarantee is 50% of the value of the loan, and the term is up to 10 years from its granting.
The signed agreement allows DSK Bank to provide SMEs with easier access to finance and an incentive to grow their business through new projects.
COSME is an EU program for the competitiveness of enterprises and small and medium-sized enterprises, which seeks to support access to finance for them. Funding is made possible through the Guarantee provided by COSME and the European Fund for Strategic Investments (EFSI) established under the Investment Plan for Europe. The purpose of the EFSI is to support the financing and implementation of productive investments in the European Union and to ensure increased access to finance.
One of the main goals of the program is to provide better access to finance for SMEs during the various stages of their business. Through the loan guarantee mechanism, the program provides guarantees and counter guarantees to financial institutions so that they can provide more loans and leasing financing to SMEs.