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EIB SME and MIDCAPS Fund

FUND SIZE: EUR50 MILLION (On-balance sheet)

Objective

To assist SMEs and MIDCAP companies to access loan financing for CAPEX, medium and long term working capital.

Qualifying Criteria

  • Application must meet IDC and EIB mandated sectors;
  • Available to SME and MIDCAP companies. MIDCAP means companies that have up to 3000 employees (full time equivalent);
  • Funding provided for CAPEX and medium to long term working capital;
  • Final Beneficiary (company) and project location must be South African;
  • Total cost of a project must not exceed R450 million;
  • Only eligible to Autonomous Enterprises, where the enterprise does not hold 25% or more of the capital or voting rights in one or more other enterprises and no enterprise has a stake of 25% or more of its capital or voting rights;
  • Exempted Investors may hold up to 50% of the capital or voting rights but do not exercise a dominant influence. Exempted Investors are public investment corporations, venture capital companies and business angels, universities, non-profit research centers, institutional investors including regional development funds, autonomous local authorities with an annual budget of less than EUR10 million and fewer than 5 thousand inhabitants;
  • EIB approval required before drawn down of the Funds’ facility; and
  • Drawdown conditions apply.

Instruments and Pricing

  • Loans;
  • Minimum of R1 million and Maximum of R120 million per transaction;
  • Normal IDC Risk pricing less 0.3%; and
  • Aimed at transactions with longer repayment periods (8-12 years). Shorter periods may be considered on a case by case basis.

Contacts for more information

Call Centre: 086 069 3888
Email: callcentre@idc.co.za

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