FINCRESCE (Financial Support to Company Growth)

Contact person 
Deolinda Silva
Institution 
Innovation Agency
E-mail 
dsilva@adi.pt
Country 
Portugal
Do you want to share an instrument/policy or a knowledge Transfer practice? 
Innovation instrument(policy)
What are the following keywords/priorities which better fit the instrument/policy?  
Support to innovation management and advisory services
Indicate the country from which the instrument (or policy) is 
Portugal
What is the title/name of the instrument/policy? 
FINCRESCE (Financial Support to Company Growth)
Indicate the target group/beneficiaries of the instrument/policy 
SMEs only
What is the aim/objective? 
FINCRESCE is aimed at improving the financing conditions for firms following consistent growth strategies and enhancing their competitive capabilities. Included in INOFIN, the Framework Programme on financial Innovation for SMEs, FINCRESCE is addressed to companies at the middle stage of their life cycles, exhibiting good performances and risk profiles. More specifically, the measure intends to encourage company strategies that fit economic policy priorities, following growth strategies in international markets, as well as the consolidation of sectoral leaderships.FINCRESCE is also aimed at improving financial intermediation effectiveness and at encouraging medium-sized companies to enter capital markets.It is also concerned with promoting the adaptation of those companies to the financial management requirements stemming from Basel II. FINCRESCE is based on public-private partnerships with a set of financial and non-financial players, active in providing support to SMEs.
Give an overview of the instrument 
FINCRESCE is focussed on companies in later stages, following growth strategies and commited to enhance their competitive basis. Companies exhibiting good performances and risk profiles that might become growth references in different economic sectors (such companies ara labelled as Leader SMEs, the best being considered as Excellence SMEs). Only companies classified as Leader SMEs, at least, are eligible
What is the date of creation of this instrument? 
Monday, January 1, 2007
Is the instrument/policy still active? 
Active
Identify the main outputs/results (quantitative and qualitative) of the implementation of this instrument 
The initial take up was relatively good, and some companies profited from the programme to upgrade their capabilities and to get financing for growth. However, the crisis and the credit crunch led to launch PME Investe credit lines, addressed to a wider range of companies. This led FINCRESCE to loose relevance.
What is the co-financing/maximum rate allowed by the instrument/policy (if appl.)? 
N/A
Is this instrument/policy linked to a KT practice? 
No