Financial instruments for SME support in practice – Case study demonstrating the delivery cycle and results of a First Loss Portfolio Guarantee
The Maltese case study is a useful example of an instrument providing financing packages for SMEs using assistance from the European Regional Development Fund (ERDF). It leveraged an initial ERDF investment of EUR 10.8 million to result in a total of EUR 62.3 million being invested in SMEs. Furthermore, the financial intermediary provided non-financial services such as coaching and mentoring. This extra support is considered to be extremely effective, particularly for start-ups with limited financial expertise. The representative the Ministry for European Affairs and Equality in Malta (managing authority) will describe the structure of the financial instrument, the challenges, the achievements and the lessons learned during the full life cycle of this financial instrument.