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Summary sheet
- Credit lines - Credit lines
In line with the terms of the French Regions SME Programme, the project consists in a EUR 20m loan facility to Normandie Prêts Participatifs ("NPP"), a EUR 40m fund aiming at supporting regional small and medium-sized enterprises (SMEs) through subordinated loans. NPP will be initially capitalised for a total of EUR 10m by Normandie Participations (an entity of the Region's development agency ADN) and by a commercial bank. NPP's will be deployed across a wide array of businesses and sectors in Normandie, by providing forms of subordinated finance that is not commonly offered by the banking and financial sector, to enhance SMEs' ability to contract loans and allow growth.
NPP will provide up to EUR 40m of financing to SMEs and thereby support the growth ambitions of entrepreneurs and small businesses throughout Normandie. It is anticipated that up to 80 businesses may receive support over 2018-2022.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
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