Luxembourg (SMEs, Entrepreneurship and Innovation)

The National Credit and Investment Society (SNCI) is a state-owned bank that specialises in financing medium- and long-term projects undertaken by Luxembourg-based companies. With resources standing at EUR 580 million in 2005, the Society provides financing through equipment loans, medium- and longterm loans, innovation loans, financing of foreign investments, equity loans and participating interests in small companies. The SNCI usually co-finances projects at an average rate of 25% of costs for fixed assets of industrial projects or up to 75% of costs incurred by first-time young craftsmen, traders, hoteliers and restaurant owners.
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