SEF programs



Guarantees for more favourable bank loans with interest rate subsidy are the most important financial line of the Fund, which on average represent around 75% of the amount of all approved incentives per year. This is followed by start-up and special incentives, a microcredit line, and a seed and venture capital line.


The importance of SEFs guarantee schemes is also recognized on an international level, where the Fund is an active member of the European Association of Guarantee Institutions (AECM) with constant contact and up-to-date information on the implementation of guarantee schemes at EU level.

In the 2007-2013 financial framework the Fund used the resources of the European Regional Development Fund (ERDF) for the implementation of the guarantee line, which were further enriched through cooperation with the European Investment Fund (EIF), thereby achieving a risk-sharing effect between the participating institutions.

SEF has successfully used the COSME programme (Programme for the Competitiveness of SMEs) in cooperation with EIF since 2016. In 2018, it has increased the contractual portfolio counter-guarantee for issued guarantees from 180 million to 310 million EUR. The cooperation with the EIF under the guarantee line has continued since 2006, when the Fund received its first counter-guarantee under the MAP program and respectively since 2009, when the Fund acquired counter-guarantee under the CIP program.

SEFs guarantees for bank loans with interest rate subsidy enable SMEs a faster, easier, but mainly cheaper obtaining of bank loans for the implementation of projects that provide a competative market penetration and an improved market position.

A credit, which is secured by SEFs  guarantee within this product, is more favourable for enterprises due to lower collateral requirements, lower interest rates, maturity of the credit and the possibility of a grace period for repayment of the credit as well as no extra costs for the approval of the guarantee. Enterprises that obtain a credit within this product at one of the participating banks, have the possibility of obtaining a guarantee in the framework of the three credit - guarantee lines, whic include: 
  • the possibility to secure classic projects
  • the possibility to sesure technologicallly innovative projects
  • the possibility got secure trade activities
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