ERP Start-up Loan – StartGeld:

• From 1 December 2015, more entrepreneurs, self-employed professionals and small enterprises will benefit from funding at favourable conditions
• Age limit raised to five years

From tomorrow, 1 December 2015, KfW will be improving the conditions for its ERP Start-up Loan - StartGeld product, which is guaranteed by the European Investment Fund. Entrepreneurs and young companies will be able to apply for KfW loans of up to EUR 100,000 through their regular banks up to five years (previously three) after starting their businesses. One particular benefit is that KfW assumes 80% of the default risk, making it thus much easier for new entrepreneurs to access low-interest credit. This is possible because, in addition to the EIF, the ERP Start-up Loan - StartGeld will also be backed by the European Fund for Strategic Investments (EFSI) from 1 December 2015. The EFSI allows KfW to provide better funding to even more entrepreneurs and young companies, and issue loans with a total volume of one billion euros by 2018. The loans are available with two different terms to maturity (five and ten years), and the interest rates currently stand at 2.05% (five years) and 2.70% (ten years).

About the EIF guarantee from the COSME programme and the EFSI:

The ERP Start-up Loan - StartGeld is made possible by the credit guarantee facility of the European Union's COSME programme (to promote the competitiveness of enterprises and SMEs) as well as the European Fund for Strategic Investments (ESFI), which was set up as part of the European Investment Plan. The purpose of the EFSI is to promote the financing and implementation of productive investments in the European Union and improve access to financing.

Note:

You can find out more at www.kfw.de/gruenden or by calling the KfW Information Centre on +49 800 5399001 (local rate).

Further information on KfW's contribution to the EFSI is available at: www.kfw.de/Europa.