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Call: Call for proposals: Transaction cost support for social enterprise finance

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Programme
EaSI - Programme for Employment and Social Innovation
Acronym EaSI
Type of Fund Action programme
Description of programme
"EaSI - Programme for Employment and Social Innovation"

The Employment and Social Innovation (EaSI) programme is a financing instrument at EU level to promote a high level of quality and sustainable employment, guaranteeing adequate and decent social protection, combating social exclusion and poverty and improving working conditions.

Objectives:

  • Strengthen ownership of EU objectives and coordination of action at EU and national level in the areas of employment, social affairs and inclusion
  • Support the development of adequate social protection systems and labour market policies
  • Modernise EU legislation and ensure its effective application
  • Promote geographical mobility and boost employment opportunities by developing an open labour market
  • Increase the availability and accessibility of microfinance for vulnerable groups and micro-enterprises, and increase access to finance for social enterprises

In pursuing these objectives, EaSI will:

  • pay particular attention to vulnerable groups, such as young people
  • promote equality between women and men
  • combat discriminations
  • promote a high level of quality and sustainable employment
  • guarantee adequate and decent social protection
  • combat long-term unemployment
  • fight against poverty and social exclusion
Link http://ec.europa.eu/social/main.jsp?catId=1081&langId=en
Description of programme
"Microfinance and Social Entrepreneurship"
The Microfinance and Social Entrepreneurship (MF/SE) axis supports actions in two thematic sections:

  • microcredit and microloans for vulnerable groups and micro-enterprises;
  • social entrepreneurship.

Objectives:

  • Increase access to, and the availability of, microfinance for vulnerable groups who want to set up or develop their business and micro-enterprises.
  • Build up the institutional capacity of microcredit providers.
  • Support the development of social enterprises, in particular by facilitating access to finance.
Call
Call for proposals: Transaction cost support for social enterprise finance
Description of call
"Call for proposals: Transaction cost support for social enterprise finance"
The objective of the call is to test a transaction cost support scheme in the form of a grant to be combined with financial instruments as a means to address the mismatch of needed and sustainable ticket sizes. More particularly, it aims at catalysing smaller risk-capital investments of below 500 000 € that otherwise would not happen.

The grant is aimed at financial intermediaries that undertake long term risk capital investments in ticket sizes of less than EUR 500 000 in the form of equity, quasi-equity, or hybrid financing to social enterprises in the EaSI Participating Countries. It will serve to lower the transaction costs for these small investment tickets and thus help overcome a market failure in the social enterprise finance market.
Link http://ec.europa.eu/social/main.jsp?catId=629&langId=en&callId=518&furtherCalls=yes
Thematic Focus Employment, Social affairs, Finances, SME, Competitiveness, Natural ressources, Capacity Building
Funding area EU Member States
Albania / Shqipëria
Former Yugoslav Republic of Macedonia / поранешна југословенска Република Македонија
Iceland / Ísland
Montenegro / Crna Gora/Црна Гора
Serbia / Сpбија
Turkey / Türkiye
Select Origin of Applicant EU Member States
Albania / Shqipëria
Former Yugoslav Republic of Macedonia / поранешна југословенска Република Македонија
Iceland / Ísland
Montenegro / Crna Gora/Црна Гора
Norway / Norge
Serbia / Сpбија
Turkey / Türkiye
Eligible applicants Other
Applicant details To be eligible, the applicant (sole or lead and co-applicants) must be:

1. An investment fund, a Fund-of-Funds, a special purpose vehicle, in any form, established or to be established. In this case, there are 2 options:

  • Either the legal entity of the investment fund, the Fund-of-Funds or the special purpose vehicle can be an applicant.
  • Or the (future) manager of the investment fund, of the Fund-of-Funds or the special purpose vehicle (established or to be established) can be applicant. For the avoidance of doubt, the (future) manager must already be an established and registered legal entity at the time of the submission of the application.

2. A (co-) investment scheme in any form (including managed accounts and other types of contractual arrangements) established or to be established.
In this case, either the (future) manager of the (co-) investment scheme / the managed accounts must be applicant or the parties of the (future) contractual arrangements must be applicants (in a consortium). The (future) manager or the parties to the (future) contractual arrangements must already be established and registered legal entities at the time of the submission of the application.

3. A foundation.
Project Partner Details Actions may involve consortia.
In the case of a proposal submitted by one (sole) applicant, if that applicant is not considered to be eligible, the application will be rejected. In the case of consortia, if the lead applicant is not considered to be eligible, the application will be rejected. If a co-applicant is considered not to be eligible, this organisation will be removed from the consortium and the proposal evaluated on that basis. In addition, the costs that are allocated to a non-eligible co-applicant will be removed from the budget.
Project duration min 12 months
Project duration max 24 months
Further info Before starting, please read carefully the SWIM user manual:
http://ec.europa.eu/employment_social/calls/pdf/swim_manual_en.pdf

Evaluation period (indicative): Submission deadline + 6 weeks
Information to applicants (indicative): Submission deadline + 3 months8
Signature of the grant agreement (indicative): Submission deadline + 4 months9
Type of Funding Grant
Financial details The total budget earmarked for the EU co-financing of projects under this call is estimated at 3 Mio. €.
The EU grant requested should indicatively be between 300 000 € and 1 Mio. €.
Under this call for proposals, the EU grant may not exceed 80 % of the total eligible costs of the action.
The Commission reserves the right not to distribute all the funds available.
Submission Once the application form is filled in, applicants must submit it both electronically and in hard copy.

https://webgate.ec.europa.eu/swim/external/displayWelcome.do

The hard copy of the proposal must be duly signed and sent in 3 copies to:
European Commission
(NOT TO BE OPENED BY CENTRAL MAIL SERVICES)
Call for proposals VP/2017/013 – DG EMPL.E1
PLB3 – 05th floor
B-1049 Bruxelles - BELGIUM
Contact Details

Link to programme's website here.


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