Press Release: Finland adopts the SME initiative: easier access to funding for start-ups and small businesses

On 26 May 2016 the European Commission adopted the SME initiative programme in Finland, worth €40 million, with €20 million from the European Regional Development Fundand €20 million from the national budget. The SME initiative boosts the competitiveness of small businesses through better access to finance.

The programme provided guarantees to financial intermediaries that give loans to SMEs. Thanks to the leverage effect, the guarantees were expected to unlock over €360 million of fresh loans for Finnish businesses.