The CCS GF is a new initiative managed by EIF on behalf of the European Commission and launched in June 2016 in the context of Creative Europe programme (2014-2020). The Guarantee Facility benefits micro, small and medium-sized enterprises (SMEs) in the cultural and creative sectors, often facing difficulties in accessing loans, based in any of the participating countries. At end of June 2016, these included the EU Member States, Iceland and Norway.
The initiative is expected to create more than EUR 600 million in loans and other financial products through a catalyst effect.
To this end, the facility encourages financial intermediaries to adopt a specific credit assessment approach with SMEs and organisations. Financial intermediaries operating under the facility have the opportunity to receive a customised training to better understand the specific needs of the cultural and creative sector projects, thus to increase their engagement in this area.
Among others, eligible applicants are:
For detailed and complete eligibility criteria please see the application documents below.
The CCS GF will provide to selected financial intermediaries:
Small and medium-sized enterprises (SMEs) or a Small Public Enterprise in the cultural and creative sectors, established and operating in any of the participating countries (currently EU Member States, Iceland and Norway) which are :
For financial institutions:
EIF will select Financial Intermediaries after a call for expression of interest process which is published below. After applying, you will have to be pre-selected before the EIF undertakes to start a full due diligence process and brings the proposal further in the approval process. Please download the specific calls below and apply by submitting to the EIF your expression of interest by 30.09.2020.
For SMEs :
To apply for a loan, cultural and creative sector companies must contact the financial intermediaries selected for each country. The facility will start rolling out in 2016 and financial intermediaries will start operating under it gradually. Further information will be posted on this webpage as soon as it is available. For information about finance available under further EU initiatives, please visit http://europa.eu/youreurope/business/funding-grants/access-to-finance