News from 07-02-2017
BBB signs InnovFin Agreement

The European Investment Fund (EIF) and the British Business Bank (BBB) have signed an agreement under the European Commission's InnovFin initiative to help small and medium-sized enterprises (SMEs) in the UK access an estimated GBP 30 million (ca. EUR 35 million) in additional financing. This transaction benefits from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe.

This agreement will enable BBB to guarantee bank loans for innovative companies in the UK over the next two years with the support of a counter-guarantee provided by EIF and backed under Horizon 2020, the EU's research and innovation programme. The agreement will assist SMEs that would otherwise not have had access to the finance they need to innovate, expand or create jobs.

Source: BBB