Portfolio guarantees & risk-sharing
Share the risk on a book built to be shared.
A guarantor covers a defined slice of losses across a diversified pool of construction receivables — in exchange for eligibility, diversification and reporting criteria agreed up front. The structure mirrors InvestEU and EIB Group risk-sharing practice: public or institutional capacity is leveraged into multiples of private working capital for SMEs.
How a guarantee works
Four moves from pool to a capped, shared risk.
A portfolio guarantee is a contract about a defined slice of a defined pool — agreed once, then monitored for the life of the facility.
- 1
Define the pool and the eligibility criteria
We agree which receivables qualify — segment, debtor quality, certified-work status, ticket size and tenor — so the guaranteed pool is homogeneous and modellable from the outset.
- 2
Set the covered tranche and the cap
The guarantee covers a defined first-loss or mezzanine slice up to an agreed cap rate. We retain a meaningful junior position, keeping incentives aligned with the guarantor.
- 3
Originate against certified work, within limits
We advance only against certified invoices, inside hard per-debtor and per-segment concentration limits, with dilution reserved against — the pool is built to its eligibility rules in real time.
- 4
Report, and call only on realised loss
We deliver standardised portfolio reporting through the life of the facility. The guarantee responds to realised credit losses within the covered tranche, with full audit trail and recoveries shared back.
Eligibility & reporting criteria
The rules the pool is built to.
A guarantee is only as good as the discipline behind the pool. These criteria are agreed up front and monitored continuously, so the guaranteed book never drifts from what was underwritten.
Criteria, agreed up front
- Certified-work eligibility — no advance without verified certification
- Hard per-debtor and per-segment concentration limits
- Minimum debtor-quality and tenor thresholds at origination
- Dilution reserves sized to set-off, retention and dispute history
- Standardised periodic reporting on composition, dilution and loss
- Clear exclusions aligned with EIB Group excluded activities
Programme alignment
Built for InvestEU-style programmes and EIB Group practice.
The instrument drops into established public risk-sharing frameworks — converting development-finance capacity into private liquidity for the real economy, with the additionality, climate and SME outcomes those programmes are mandated to deliver.
- Programme fit
InvestEU-style structures
First-loss and capped-guarantee mechanics that drop into established InvestEU and Member-State risk-sharing programmes without bespoke engineering.
- Mechanics
EIB Group risk-sharing logic
Leverage public or institutional capacity into private liquidity; the guarantee responds to realised loss within a defined, capped tranche.
- Mandate
Climate & taxonomy outcomes
EU-Taxonomy-tagged renovation is tracked inside the guaranteed pool, so climate additionality is evidenced, not asserted.
- Reporting
Evaluation-ready reporting
Standardised reporting built for development-finance evaluation from the outset — additionality, SME impact and loss, not retrofitted disclosure.
What it unlocks
More guarantee capacity, more SMEs paid today.
Every euro of guarantee capacity multiplies into working capital for construction SMEs that would otherwise finance 90-day terms out of pocket. The guarantor's risk is diversified and capped; the beneficiary is a real firm kept solvent and a project kept on schedule.
Evaluating a facility?
Request the data room: portfolio composition, loss history by vintage, dilution analysis, governance pack and the proposed risk-sharing structure.
Keep Europe building. Get paid today.
Two doors: finance your construction invoices, or partner with us on risk-sharing.
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