Social Innovation Fund (SIF) Credit Line - BPI


BPI, PME Investimentos, Sociedade Portuguesa de Garantia Mútua (SPGM) and Mutual Guarantee Companies (MGC) support Innovation Initiatives and Social Entrepreneurship.


THE SIF CREDIT LINE - BPI, under a protocol between PME Investimentos, SPGM, MGC (Agrogarante, Garval, Lisgarante and Norgarante) and BPI, is provided through the Social Innovation Fund (SIF) within the scope of the Portugal Social Innovation Initiative (IPIS).

The public support granted under the SIF Credit Line is provided through the Social Innovation Fund (SIF), with co-financing from the Competitiveness and Internationalisation Operational Programme (COMPETE 2020), Portugal 2020 and the European Union through the European Social Fund (ESF).

This subsidised credit line is intended to support entities that are promoters of Innovation Initiatives and Social Entrepreneurship (IIES), with a positive opinion from the Portugal Social Innovation Mission Structure (EMPIS). The initiatives to be supported must be located in the NUTS II regions of the North, Centre and Alentejo.

  • Overall amount: €50 million.
  • Allocation Period: up to 24 months after the opening of the line, which may be extended for 6-month periods, if not exhausted in the previous periods, with a limit of 30 June 2023.
  • Interest rate subsidised, with the possibility of full subsidy;
  • Maximum coverage of 80% by MGC, with commission fully subsidised;
  • Guarantee fee by MGC fully subsidised.

  • Micro, Small and Medium Enterprises (SME) or Social Economy Entities, provided for in Article 4 of Law No. 30/2013 of 8 May, which are promoters of Innovation Initiatives and Social Entrepreneurship (IIES), with a positive opinion from the Portugal Social Innovation Mission Structure (EMPIS).
Eligible Operations

Type of operations/financing:

  • Medium- and Long-Term Loans
Eligible Operations

Maximum amount of financing per operation: €2.5 million (with a limit of amount of expenses related to IIES).

  • Maximum term: up to 10 years
  • Grace period on principal: up to 3 years
  • First-demand autonomous guarantee provided by MGC to guarantee up to 80% of the outstanding principal;
  • Other guarantees required by BPI, set up alongside MGC and the SIF.

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



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.