What is EaSI?
Employment and Social Innovation - EaSI
EaSI is the Employment and Social Innovation programme, managed by the European Investment Fund (EIF).
Idea::Bank benefits from the support of the European Union and the European Fund for Strategic Investments (EFSI), as an intermediary in the Employment and Social Innovation programme.
Guarantee offered by the European Union through the European Investment Fund (EIF) - the Employment and Social Innovation (EaSI) programme.
- main objective is to increase the availability and accessibility to microfinance;
- it is offered free of charge, it does not involve costs from the final beneficiary, the micro-enterprise;
- the guarantee is available through commercial banks that have joined this program.
Legal framework and objectives:
- 11 December 2013, by Regulation (EU) no. 1296/2013 of the European Parliament and of the Council on the European Union regarding Employment and Social Innovation ("EaSI") Program and amending Decision no. 283/2010 on the establishment of a European microfinance “Progress Microfinance Facility”, was adopted the Employment and Social Inclusion Facility (the "Regulation"). EaSI establishes, among other, the EaSI guarantee mechanism ("the guarantee mechanism"), which is funded by the European Union and is managed by the EIF;
- 22 June 2015, the European Union, represented by the Commission and the EIF, concluded a delegation agreement (amended and updated, referred to as the "Delegation Agreement"), under which the EIF was entrusted to implement and manage, among others, the mechanism guarantee.
Who can benefit from EaSI guarantee?
EaSI guarantee instrument is dedicated to micro-enterprises, as defined in accordance with the Commission Recommendation (2003/361 / EC)
Is your company a micro-enterprise?
- the company must carry out an independent activity;
- has less than 10 employees, according to the last annual balance sheet submitted;
- the annual turnover and total assets do not exceed EUR 2 000 000 for the last financial year ended.
Under what conditions can your company obtain the EaSI guarantee?
- has the headquartered in Romania and also operates here;
- the business has been operating for at least 24 months and there have been no changes in the shareholding structure or in the main field of activity in the last 12 calendar months;
- records a positive evolution of the turnover and has the capacity to repay the debts;
- it is not the subject of a collective insolvency / bankruptcy / preventive agreement procedure and is not in financial difficulty (for example: it registers losses accumulated for more than half of its own capital, as it appears from the accounting of the company);
- does not have a substantial focus on one or more restricted sectors;
- both the company and its associates have a favorable payment history and do not record charges on accounts, arrears to suppliers, banks, financial institutions and tax authorities.
Idea::Bank will perform the analysis based on the above information and the financial and accounting statements presented, according to the internal regulations.
Loans with EaSI guarantee
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More details about the Employment and Social Innovation Program, managed by the European Investment Fund (EIF):
The financing for which was granted support benefits from the support of the European Union under the guarantee mechanism established under Regulation (EU) no. 1296/2013 of the European Parliament and of the Council establishing a Union program for Employment and Social Innovation ("EaSI") and within the European Fund for Strategic Investments ("EFSI"), established within the investment plan for Europe. The purpose of the EFSI is to contribute to supporting the financing and implementation of productive investments in the European Union and to facilitate access to finance. Further information about the EFSI is available on the European Commission's website and on Twitter (#investEU).