With this commitment, the LfA, which is owned by the Free State of Bavaria, can support SME financing by regional commercial banks up to a total of EUR 400 million.
The EIF guarantees are made possible by the European InvestEU programme, which uses three of its guarantee products: for competitiveness and growth, for sustainability and green transformation, and for innovation and digitalisation.
- The EIF SME Competitiveness Guarantee is designed to support small and medium-sized enterprises by facilitating access to finance for riskier SMEs and companies without sufficient collateral.
- The EIF Sustainability Guarantee aims to support the green and sustainable transformation of the economy and the uptake of environmentally friendly, green and inclusive investments by small businesses.
- The EIF Guarantee for Innovation and Digitalisation aims to enable regional banks to support innovation and the growth of small and medium-sized enterprises active in research and development or in the implementation of new digital technologies.
Enormous investment needs for more digitalization
Marjut Falkstedt, Managing Director of the European Investment Fund, explains:
"The InvestEU program is proving to be a very useful tool to support European companies. We look forward to working with LfA Förderbank Bayern to facilitate access to financing for companies across Bavaria, making them more sustainable and competitive, while enabling innovation and the transition to a more digital future."
And Bernhard Schwab, Chairman of the Board of LfA, said:
"Transformation, especially towards digitalization and technological progress, is the overarching task of the economy in the coming years – and with it, an enormous need for investment. I am therefore pleased that, in cooperation with the European Investment Fund, we can now support even more Bavarian SMEs in financing investments in innovation and digitalization."
