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COSME is the European Union programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (SMEs) running from 2014 to 2020. It is implemented and financed by the European Commission directly from EU budget and realized by EU member states.

The programme is aimed particularly at small and medium-sized enterprises in order to increase their competitiveness and employment across EU member states. The COSME Programme – direct successor of the Competitiveness and Innovation Framework Programme (CIP) (2007-2013) without its part of innovation entrepreneurship support.

EUR 2.3 billion has been allocated to COSME programme for the strengthening of SMEs. This support can be used for better access to SME financing, easier enterprises´ access to EU member states markets as well as markets of third countries (thanks to worldwide and free of charge expert network called Enterprise Europe Network), and also for the strengthening of entrepreneurial culture as well as for the improvement of conditions for the establishing and growth of (new) enterprises.

COSME Programme is complementary to the communitarian program for research an innovation (HORIZON 2020) including EU cohesion policy implemented through the support of structural funds by national Operational programmes of individual member states.

European Investment Fund provided a counter-guarantee to the Czech-Moravian Guarantee and Development Bank which benefits from the support of the European Union under the Loan Guarantee Facility established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Programme for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020) The  counter- guarantee is being used within a frame of national guarantee programme for small entrepreneurs called “GUARANTEE 2015-2023”; see detailed Czech version.

This Guarantee has been provided by COSME and the European Fund for Strategic Investment (“EFSI”) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.

COSME Programme support is aimed at investment loan guarantees as well as supply purchase loans/working capital guarantees up to CZK 4 mil. The applicant has to be a small entrepreneur with less than 50 employees. Guarantee maturity: up to 6 years depending on the product specification. The guarantee is free of charge. The guarantee is being provided in a simplified procedure thanks to the cooperation with commercial banks (providing loans). List of cooperating banks – please see http://www.cmzrb.cz/produkty-a-sluzby/souhrnna-informace-k-m-zarukam.

 

 For further information please see websites of the European Commission, European Investment Fund or Enterprise Europe Network on following links:

http://ec.europa.eu/enterprise/initiatives/cosme/index_en.ht

http://www.eif.org/what_we_do/guarantees/single_eu_debt_instrument/cosme-loan-facility-growth/index.htm

http://www.eif.org/what_we_do/guarantees/news/2015/Cosme-cmzrb.htm

http://www.enterprise-europe-network.cz/en