This analysis provides an overview of the main markets relevant to the EIF. It starts by discussing the general market environment, then looks at the main aspects of equity finance and the guarantee and SME securitisation markets. It also highlights important aspects of microfinance in Europe....

This paper analyses the Business Angel (BA) portfolio of the European Angels Fund (EAF), an initiative of the European Investment Fund, which engages in co-investment relationships with experienced business angels across Europe. It uses EIF’s proprietary database to shed light on a specific...

This European Small Business Finance Outlook (ESBFO) provides an overview of the main markets relevant to EIF (equity, guarantees, securitisation, microfinance). It is an update of the December 2017 ESBFO edition. We start by discussing the general market environment, then look at the main...

This European Small Business Finance Outlook (ESBFO) provides an overview of the main markets relevant to EIF (equity, guarantees, securitisation, microfinance). It is an update of the ESBFO December 2016. We start by discussing the general market environment, then look at the main aspects of...

This report discusses the activity of credit guarantee schemes (CGSs) in Western Europe and presents an analysis based on a novel survey, conducted by the European Investment Bank (EIB) Group1, among 18 credit guarantee organisations in 13 countries and 33 banks operating in 17 countries. The...

This European Small Business Finance Outlook (ESBFO) provides an overview of the main markets relevant to EIF (equity, guarantees, securitisation, microfinance). It is an update of the ESBFO December 2015. We start by discussing the general market environment, then look at the main aspects of...

This working paper provides an overview of the main markets relevant to the EIF, thereby documenting the impact of the polycrisis and the related challenging economic environment on SME financing. The publication first discusses the general market environment and then covers the markets for SME...

This working paper elaborates on the most recent update of the EIF SME Access to Finance (ESAF) Index, a composite indicator used to monitor the state of SME external financing markets in the EU. The current update, using data for 2022, constitutes the tenth iteration of this exercise, resulting...

This working paper provides you with an overview of the main markets relevant to the EIF. It starts by discussing the general market environment, then looks at the markets for SME equity and debt products. In addition, it focusses on a number of thematic policy areas of interest to the EIF, such...

This working paper provides an overview of the main markets relevant to the EIF, with a particular focus on the impact of COVID-19. It starts by discussing the general market environment, then looks at the main aspects of equity finance and the markets for SME debt products and, finally, it...