EIB provides GRENKE with funds for leasing
- EUR 100m credit facility from the EU Bank
- Funding aimed at boosting the innovation and competitiveness of the SME sector
- First EIB operation with the German financial services provider
The European Investment Bank (EIB) is providing the German financial services group GRENKE a long-term, low-interest credit facility for up to EUR 100m. Headquartered in Baden-Baden, GRENKE is a financing partner for small and medium-sized enterprises. It offers its customers a one-stop shop for leasing, factoring and bank products. This is the first time that the EU bank and GRENKE have joined forces.
EIB Vice-President Ambroise Fayolle, responsible for operations in Germany, emphasised: “With its product mix, GRENKE is providing made-to-measure support to innovative small and medium-sized enterprises for the growth and development of their businesses. The promotion and strengthening of the SME sector, particularly first-time entrepreneurs and start-ups, is one of the EU bank's top priorities, as these will secure growth in Europe and jobs in the future. I therefore particularly welcome the fact that we have gained a new, strong financial services partner in GRENKE which, with its business model, is making a sustainable contribution to this goal, both in Germany and beyond.”
GRENKE AG Board Member Sebastian Hirsch stated: “We are very pleased that, through this cooperation with the EIB, small and medium-sized enterprises throughout Europe can now benefit from attractive leasing conditions. Operating in 26 European countries, GRENKE has been a close partner for SMEs for forty years. Our strength is the rapid and uncomplicated processing of leasing requests. In Germany, we have already concluded around 39 000 supported leasing contracts through partnerships with promotional banks.”