More favorable loans for SMEs – COSME program provides EUR 60 million, interest rates from 2.39% to 7.75%

The first in the line of agreements between the European Investment Fund (EIF) and the commercial banks, within the realization of the EU`s COSME programs, providing new, more favorable sources of finance, to Serbian companies, was signed today at the Government of Serbia.

With this document, the EIF has provided a direct guarantee, which will enable Banca Intesa to support 3,000 small and medium enterprises with EUR 60 million worth of loans for procurement of working assets for a period of 36 months, with very low interest rates and without mortgage.

The maximum amount available to an enterprise is EUR 150,000, whereas the minimum amount is not defined, and the interest rate depends on the credit rating and ranges from 2.39% to 7.75%.

Minister of Economy Goran Knezevic reminded that the signing of the agreement was very important for small and medium enterprises and entrepreneurs, the backbone of each country`s development, as it provided them with more favorable loan conditions.