JEREMIE INITIATIVE AS A SOURCE OF EXTERNAL FINANCING OF SMALL AND MEDIUM- SIZED ENTERPRISES IN POLAND

Abstract

The improvement of SME access to external financing was the main reason behind  the implementation of JEREMIE initiative. The principle of this program is based on repayable financial instruments to SME such as guaranties and loans instead of nonrefundable grants. The results of this study made it possible to formulate the following key findings. First, in the years 2010 through 2014, the number of  SMEs benefiting from Jeremie has been steadily growing. Second, more than one-third of the beneficiaries came from companies  in the first three years of business.