COSME: financing opportunities for European SMEs
25 Feb 2016


COSME, the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises, is a funding scheme planned to run from 2014 to 2020 with a current budget of €2.3 billion. This business support programme aims to make it easier for small and medium-sized enterprises (SMEs) to access finance in all phases of their lifecycle – creation, expansion, or business transfer.

The idea is that this financial support will facilitate businesses’ access to guarantees, loans and equity capital. COSME is an EU financial instrument, and as such is channelled through local financial institutions in EU countries. To find a financial institution in your country, please visit the official EU’s Access to Finance portal.

Who is eligible for EU funding?
EU funding is available for start-ups, entrepreneurs and companies of any size or sector. A wide range of financing is available: Business loans, microfinance, guarantees and venture capital. Every year the EU supports more than 200,000 businesses.

How it works
The decision to provide EU financing will be made by the local financial institutions such as banks, venture capitalists or angel investors. The exact financing conditions (amount, duration, interest rates and fees) are determined by these financial institutions.

Right for credit feedback
All applicants have the right to get feedback from credit institutions on their credit decision. This can be very useful for an SME to understand its financial position and improve its chances to obtain financing in the future.

How to apply?
The Executive Agency for Small and Medium-sized Enterprises (EASME) manages COSME on behalf of the European Commission. Expressions of interest related to COSME can be found on the EASME website. Applications to open calls are made through the Participant Portal. Financial intermediaries can find more information on the calls for expression of interest on the COSME financial instruments page.

If you are interested in this programme and you require assistance on this or other funding opportunities, please contact your local SPiCE3 representative (see full list here).

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