What is COSME and who is it aimed at?
COSME is a guarantee line facilitated by the European Investment Fund with an aim to provide easier access to the funds for the small and medium-sized enterprises which employ positive business practices. ProCredit Bank BiH is the only bank in the country which currently offers the funds facilitated under this guarantee line in the total amount of EUR 30 mil.
What is the importance of the COSME for our clients?
COSME provides our clients with various advantages summarized briefly as it follows:
- Easier access to the funds needed to support business activities
- It covers the lack of collateral: No collateral shall be requested for any final recipient transaction in the portfolio except for the personal guarantees from the owner(s) and/or promissory notes of the borrowers and/or similar instruments
- It enables the clients to foster their business activities and improve competitiveness
What requirements should be met in order to be eligible for COSME funding?
In order to qualify for COSME clients should meet following criteria:
- Privately-owned enterprises: only formal and officially registred
- Stable financial standing: without problematic repayment history and with clean credit history
- They should have previous experience in business activity considered for financing
Loan types
These types of loans might be considered for financing under COSME guarantee line:
- Revolving loans
- Overdrafts
- Investment loans
- Documentary business (Guarantees)
General conditions:
- Amount: min. EUR 25.000 up to max EUR 150.000 (please note: larger transactions might be included provided that the final recipient does not fulfill any of the 14 InnovFin Innovation Eligibility Criteria
- Maturity: min 13 months up to max 10 years
For more scpecific information about COSME guarantee line backed with the EIF guarantee, please contact your Business Client Advisor or call the Bank’s Call Center on 033/250-950.