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The European Investment Fund (EIF) and Orange Money Ltd (trading as Ezbob) have signed the first loan guarantee agreement in the UK under the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME).

This is the first agreement with an online SME lender under COSME and will allow Orange Money (Ezbob) to substantially increase their loan volumes to SMEs by supporting a new portfolio of loans worth up to GBP 40m (EUR 56m) over the next two years. Over 3,000 companies are expected to benefit from this EU support.

Tags: Funding