The European Investment Fund (EIF) and LHV Pank have signed an agreement to increase lending to innovative small and medium-sized enterprises (SMEs) as well as Small Mid-caps under InnovFin – EU finance for innovators, an initiative supported by the European Commission.The new agreement allows LHV Pank to provide finance to innovative companies in Estonia for a total of EUR 40m over the next 2 years with the support of a guarantee provided by the EIF and backed under Horizon 2020, the EU Framework Programme for Research and Innovation. This is the first InnovFin SME guarantee signature in Estonia and the fifth in Europe, enabling LHV Pank to offer innovative companies additional financing at favourable conditions.
