- Triodos Bank can provide up to €67 million in loans to social entrepreneurs through a commitment from the European Investment Fund (EIF).
- The EIF’s backing for Triodos is made possible by the InvestEU programme.
- This is the third collaboration between the EIF and Triodos, which have been working together since 2018, benefitting hundreds of SMEs throughout the EU.
The guarantee scheme is available in the Netherlands, Belgium, Spain and Germany. Social entrepreneurs will be able to benefit from loans at a reduced interest rate with lower collateral requirements under the EU supported programme. Companies interested in financing can get in touch with their local Triodos contact for more information.
The facility allows Triodos Bank to provide financing to a broad range of sectors, covering the current loan portfolio of the bank. Some examples are social assistance and care services, initiatives to enable disadvantaged workers to enter the labour market, social housing, as well as support for the production of healthy food and promotion of culture and arts.
Jacco Minnaar, Chief Commercial Officer at Triodos Bank: “At Triodos Bank, financing social entrepreneurship, in the broadest possible definition, is our core business. With the support of the EIF we can now empower more entrepreneurs to add value to society and accelerate the necessary transitions towards a more prosperous life for people on a thriving planet.”
“This is not the first collaboration between Triodos and the EIF, and for good reason.” says Marjut Falkstedt, Chief Executive of the European Investment Fund. “Social enterprises in various sectors play a very important, yet often overlooked, role in our societies. They help to make our economies open, and fair for everyone. I’m glad we can continue our support for Triodos so that these valued SMEs can continue to grow.”
Commissioner for Jobs and Social Rights, Nicolas Schmit, said: “InvestEU is playing an important role in mobilising investments in the social economy. With this agreement, social enterprises in the Netherlands, Belgium, Spain and Germany will get access to the finance they need to make a real and lasting impact in their communities.”
The EIF and Triodos Bank already have a longstanding partnership aimed at social enterprises and the cultural and creative sector. This is the third agreement in Triodos Bank’s cooperation with the EIF, totalling up to EUR 400 million in guaranteed lending to social and cultural enterprises.
Jacco Minnaar: “The success of the agreements with the EIF shows that public and private partnerships can have a great positive impact on society. We look forward continuing our work together with the EIF.”
In 2018, Triodos Bank and the EIF signed the first Social Entrepreneurship guarantee agreement in the Netherlands under the EU Programme for Employment and Social Innovation. Triodos Bank has signed around 635 transactions under the social entrepreneurship guarantee agreement in the Netherlands, Belgium and Spain.
In 2021, the EIF and Triodos Bank signed an agreement to extend financial support by up to EUR 200 million to the cultural and creative sector. Since then, Triodos Bank has signed 220 transactions under this guarantee facility.