The new portfolio of loans encompasses senior financing to German SMEs, with support of the European Investment Fund.
Frankfurt-based SME lender Creditshelf has launched a €62m direct lending fund for German SMEs hit by coronavirus.
The Creditshelf Loan Fund, which is backed by the European Investment Fund as well as other investors has completed its first financing round. The direct-lending fund aims to attract additional institutional investors over the course of several financing rounds, with a target of €150m total commitments.
Thabe, CEO and founding partner of Creditshelf said: “SMEs form the foundation for the German economy. They need financing funds for growth and investment - In the current situation as well as in the future."
Creditshelf saw a 60 per cent increase in loan requests to €500 million compared to the same quarter of the previous year.
EIF Chief Executive Alain Godard said: "In times of unprecedented crisis it is essential that SMEs receive the support they need. Diversified debt funds offer small businesses an alternative to classic bank loans, including speedy deployment and flexible approach.
“Our cooperation with Creditshelf - with EFSI (European Fund for Strategic Investments) backing - comes at an important moment, as we seek to support small and medium-sized businesses across Europe and help them face the enormous challenges of the COVID-19 crisis."