Release date: 18 September 2017
Promoter – Financial Intermediary
NORMANDIE PARTICIPATIONSLocation
Description
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.
Objectives
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.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 20 million
Total cost (Approximate amount)
EUR 40 million
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 11/09/2018
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).