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Content ID: PR_WCS01_UCM01057280

BPI/FEI Innovation III Line

€200 million to support innovative companies.

Banco BPI | Support Credit Lines | BPI/FEI Innovation III Line

Banco BPI | Support Credit Lines | BPI/FEI Innovation III Line


BPI signed with the European Investment Fund (EIF) the second guarantee agreement under the InnovFin SME Guarantee Facility.

InnovFin SME Guarantee was designed to support innovative companies (SME and Small-Mid Caps) or companies engaging in research and development activities. It has the financial support of the European Union through the Horizon 2020 financial instruments and the European Fund for Strategic Investment (EFSI) set up under the Investment Plan for Europe. The EFSI aims to support the financing of productive investments in the European Union and to ensure greater access to sources of funding.

Based on this agreement, BPI created the BPI/EIF Inovação III Line, in the amount of €200 million. This line, which aims to finance under competitive conditions innovative companies with less than 500 employees, benefits from an EIF autonomous guarantee for 50% of the amount of the loan.

This is the third agreement of this kind signed between BPI and the EIF. BPI was the first financial institution to launch in Portugal the Risk Sharing Instrument (April 2013) and the first agreement under the InnovFin SME Guarantee (December 2014).


  • Financing intended to support investments and working capital;
  • Targets innovative companies with up to 500 employees, in particular Small and Medium-Sized Enterprises (SMEs);
  • Access to a structured credit line with an EIF guarantee;
  • Competitive conditions


Innovative Micro, Small and Medium-Sized companies, including Individual Entrepreneurs, with up to 500 employees, that meet at least one of the following innovation criteria:

a) Having obtained in the last 36 months a loan under the Risk Sharing Instrument (RSI) or the InnovFin SME Guarantee, namely under the previous BPI/EIF Inovação or BPI/EIF Inovação II Lines, or equivalent instruments in other credit institutions, on condition that the funds of the new operation are not earmarked for the same expenditure.

b) Having obtained in the last 36 months subsidies, loans or guarantees under the support programmes to Research, Development and/or Innovation (such as the 7th RTD Framework Programme, Horizon 2020, NSFR 2007-2013, Portugal 2020, PRODER, 2020 RDP ), on condition that the funds of the new operation are not earmarked for the same expenditure.

c) Having incurred expenditure on Research, Development and Innovation (RD&I) activities qualified in the last 36 months by competent national or regional entities as eligible for support measures approved by the European Commission (EC) to encourage companies to invest in RD&I, namely the Tax Incentives Scheme for Business Research and Development (SIFIDE).

d) Being a 'fast-growing enterprise', i.e., a company with less than 12 years with an average endogenous growth in the number of employees or turnover of more than 20% in the last 3 years and with 10 or more employees at the start of the observation period.

e) Having registered in the last 24 months at least one industrial property right, such as patents, utility models, or design, among others.

f) Having undertaken to spend an amount equal to at least 80% of the value of the financing operation in RD&I activities, and the remainder in costs required for the development of these activities, according to the business plan.

g) Having undertaken to use the funds to be obtained from the financing operation to invest in the production, development or implementation of new or significantly improved: i) products, processes or services; or (ii) production or distribution methods; or (iii) organisational methods in business practices, including business models that are innovative and entail technological, industrial or business risk.

h) Presenting a RD&I costs/total operating costs ratio equal to or higher than:

  • 5% for companies with up to 7 years;
  • 10% for companies with more than 7 years.

i) Requesting a risk financial investment of more than 50% of the company's average annual turnover in the last five years based on a business plan for entry into a new product or geographic market.

j) Having been appointed in the past 36 months as an innovative company by a European, national or regional institution or body, including:

  • Companies of the SME Innovation Network COTEC;
  • Companies with a "Seal of Excellence" under the SME Instrument of the Framework Programme for Research and Innovation (Horizon 2020).

k) Being a SME at an early stage of development (5 years) that received in the last 24 months an investment from a venture capitalist or a Business Angel, a member of a Business Angels network, or the said investor or Business Angel being a shareholder of the company.

l) Having received a Research and Development or Innovation award in the last 24 months from an official European Union Agency, Institution or organisation. 


Eligible transactions

Newly originated loans for the purpose of financing:

  • Investment in tangible and/or intangible assets;
  • Working capital;
  • Acquisitions.


Transactions amount:

  • Minimum: € 25.000 or € 1.000.000 in case of bonds;
  • Maximum: € 7.500.000. If a company/group has more than one operation whose sum exceeds this value, operations must have at least one different characteristic (eg, term, grace period, purpose, collateral) to be eligible.



  • Minimum: 1 year or 3 years in case of bonds;
  • Maximum: up to 10 years;
  • Grace period (principal): up to 1 year.


  • On-first demand guarantee provided by the EIF to 50% of the amount of the loan;
  • Any other guarantees that may be agreed with BPI which are set up pari passu with the EIF.

Minimis aid

This credit line is not considered for minimis aid consumption.

For more information, please go to any BPI Branch or Corporate Centre or contact us.

Linha BPI FEI Inovação III


This information is provided for advertising purposes and does not constitute a contractual offer; you must read the pre-contractual and contractual information required by law.

Contracting subject to prior approval by the entities involved and subject to the conditions defined according to the risk profile of each operation.

Banco BPI, S.A., Rua Tenente Valadim, 284, Porto, Tied Insurance Intermediary no. 207232431 (registered with the Insurance and Pension Funds Supervision Authority on 31-10-2017 - more details on the registration available at; authorised to carry on insurance business in the Life and Non-Life Branches with the insurers BPI Vida e Pensões - Companhia de Seguros Vida, S.A., Companhia de Seguros Allianz Portugal, S.A. and COSEC - Companhia de Seguro de Créditos, S.A. Banco BPI, S.A. is not authorised to receive premiums or enter into contracts on behalf of COSEC, Allianz or BPI Vida e Pensões and, as an insurance intermediary, assumes no responsibility for the coverage of risks inherent in the insurance contract.