OCDE - Financing SMEs and Entrepreneurs 2026 - Eslovenia de 2026

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FINANCING SMES AND ENTREPRENEURS 2026: SLOVENIA © OECD 2026

Key facts on SME financing

Small and medium-sized enterprises (SMEs) accounted for 99.6% of all companies in Slovenia in 2024. As the backbone of the national economy, they generated 61.3% of total turnover and employed 65.7% of the workforce. Following a period of strong economic growth and intensified borrowing, financing v ia loans slowed considerably. The outstanding stock of SME loans declined by 7.2% over 2023 an d 2024, driven by reduced demand and a drop in new loan issuance. By the end of 2022, financing conditions for the non-banking sector had deteriorated significantly. Interest rates for SMEs rose from 2.3% in 2021 to 5.2% in 2024, although they began to decline in the second half of 2024 as monetary policy eased, falling to 4,0% in 2025. According to the Bank of Slovenia’s annual survey on access to finance, firms reported improved access for the second consecutive year in 2024, though conditions remained less favourabl e than in 2021. While financing continued to pose challenges for the business sector amid the ongoing ec onomic uncertainty and limited availability of government incentives, firms observed some improvem ents in availability of finance, alongside declining inflation and financing costs. Nevertheless, many remai ned cautious, wit h fewer firms applying for external funding. The government policy response has been primarily through the SID Bank and the Slov ene Enterprise Fund. The SID bank, the national development bank, acts as a:

1. Manager of fund of funds structure of the European cohesion funds including the ERDF under the2014-2020 and 2021-2027 financial perspectives. These funds are deployed eth er directly or indirectly via financial intermediaries, such as commercial banks or public fi nancial institutions including the Slovene Enterprise Fund));

the2014-2020 and 2021-2027 financial perspectives. These funds are deployed eth er directly or indirectly via financial intermediaries, such as commercial banks or public fi nancial institutions including the Slovene Enterprise Fund));

2. Ccomplementary financial institution to commercial banks through own loan facili ties as well as guarantee lines to support the Slovene SMEs domestically and abroad; and

3. Developer of equity financing programmes in Slovenia.

Additionally, the Slovene Enterprise Fund, acts as a public fund and a financial ins titution of Ministry of Economy, Tourism and Sports, offering favourable financial resources; grants (for innovative startups, for digital transformation of SMEs, etc.); seed capital; guarantees for bank loans with subsidised interest rates; and microloans. In addition to bank lending from commercial banks, and the SID Bank, the government of the Republic of Slovenia in co-operation with state owned financial institutions also imple mented a range of measures to fill the gaps in SME access to finance and complement other financial measures. These policies include: • Slovene enterprise fund offers blended finance for innovative startups (EUR 2.1 million per year for 401 innovative startups). The government provide grants blended with mentoring and training. Slovenia2 

FINANCING SMES AND ENTREPRENEURS 2026: SLOVENIA © OECD 2026

• Slovene enterprise fund offers also blended finance for seed capital in the form o f convertible loans and equity capital blended with mentoring and training. • Slovene enterprise fund supported also two venture capital funds (Tivol ven tures and Silicon Gardens). They will offer EUR 50 million of venture capital to startups and scaleups. • Slovene enterprise fund is also part of CEFOF programme (Central European Fund of Funds). • SID bank established with EIF the SEGIP fund (EUR 100 million) that was expanded , and the total value is EUR 220 million. • SID bank is one of the key investors in the Three Seas Initiative Investment Fund (EUR 23 million committed by SID).

• SID bank established with EIF the SEGIP fund (EUR 100 million) that was expanded , and the total value is EUR 220 million. • SID bank is one of the key investors in the Three Seas Initiative Investment Fund (EUR 23 million committed by SID).

In addition, the Slovene government adopted the Slovene Startup Strategy on 5 March 2026 . 3

FINANCING SMES AND ENTREPRENEURS 2026: SLOVENIA © OECD 2026

Table 1. Scoreboard for Slovenia Indicator Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Debt Outstanding business loans, SMEs EUR billion 7.30 8.12 7.86 9.67 9.79 9.53 5.70 4.31 4.12 4.35 4.61 4.71 4.80 4.74 4.94 5.57 5.41 5.17 Outstanding business loans, total EUR billion 16.80 19.94 19.86 20.83 20.09 18.64 14.14 11.21 10.04 9.31 9.31 9.18 9.29 9.09 9.57 10.76 10.19 10.02 Share of SME outstanding loans % of total outstanding business loans 43.45 40.71 39.59 46.43 48.75 51.14 40.29 38.47 41.01 46.79 49.52 51.33 51.69 52.13 51.62 51.75 53.05 51.57

New business lending, total EUR billion 15.29 18.57 13.71 9.42 8.60 6.98 6.07 5.22 5.65 5.32 6.25 5.53 5.27 4.42 5.35 New business lending, SMEs EUR billion 5.89 7.21 5.79 3.64 3.61 2.86 2.86 2.91 2.94 2.26 3.16 2.38 2.41 2.28 2.25 Share of new SME lending % of total new lending 59.36 57.93 63.06 56.34 54.99 58.07 56.90 63.55 58.54 53.16 51.91 43.05 45.82 51.64 42.17 Outstanding short-term loans, SMEs EUR billion 2.09 2.53 2.15 2.76 3.09 3.19 1.74 0.79 0.61 0.78 0.80 0.83 0.72 0.63 0.62 0.83 0.78 0.77 Outstanding long-term loans, SMEs EUR billion 5.21 5.59 5.71 6.91 6.70 6.34 3.96 3.53 3.51 3.58 3.82 3.88 4.08 4.11 4.32 4.73 4.63 4.40 Share of short-term SME lending % of total SME lending 28.62 31.19 27.33 28.54 31.55 33.47 30.51 18.22 14.70 17.87 17.26 17.72 14.94 13.37 12.55 14.96 14.36 14.83

Government loan guarantees, SMEs EUR million 3.28 22.22 45.20 32.93 19.15 3.07 1012 552.1 520 710 155.9 12.86 250 Non-performing loans, total % of all business loans 2.52 3.60 6.66 11.16 17.44 22.86 20.31 17.51 15.24 16.82 12.91 8.41 4.46 3.85 2.29 1.82 1.75 1.75 Non-performing loans, SMEs % of SME loans 3.77 5.68 8.93 14.68 22.25 28.37 27.57 25.88 24.48 22.92 16.77 10.42 5.98 4.99 3.77 3.17 2.54 2.80 Interest rate, SMEs % 7.07 7.46 6.95 5.82 6.01 5.89 5.84 5.19 3.73 3.00 2.77 2.60 2.48 2.53 2.3 2.82 5.27 5.16 Interest rate, large firms % 5.55 6.07 4.61 5.02 5.17 4.87 4.52 4.19 2.92 2.19 2.26 2.05 1.64 1.79 1.52 1.92 4.89 4.80 Interest rate spread Percentage points 1.52 1.39 2.33 0.79 0.83 1.02 1.32 1.00 0.81 0.81 0.51 0.55 0.84 0.73 0.78 0.9 0.38 0.36

Source: See Table 5.4 

FINANCING SMES AND ENTREPRENEURS 2026: SLOVENIA © OECD 2026

Macroeconomic and financing conditions The growth of the Slovenian economy in 2024 was relatively modest at 1.6%, 0.5 percentage points lower than growth in 2023, however showing some favourable changes in its structure. As inflation declined, real net wage bill increased, supporting a renewed growth in household consumption (1.6%). The growth in government consumption was higher at 8.5%, driven in part by higher government sector employment and increased spending on post-flood reconstruction. Favourable domestic conditions contributed to stronger value-added growth in private services . However, 2024 proved challenging for firms in terms of investment. Heightened international uncertainty, high energy costs, and a reduction in government investment following the conclusion of the previous E U financial framework, led to a sharp downturn in the investment cycle. Overall investment fell by 3.7% year-on-year. Lower government investment particularly affected the construction sector, where value added declined by 1.4%, following strong growth in 2023. In contrast, manufacturing saw a 3.1% increase in value added, supported by a rebound in merchandise exports. Strengthened domestic demand and inventory restocking also contributed to a notable recovery in imports. Despite signs of a slowdown, the labour market remained tight in 2024. Employment growth s talled and the unemployment rate remained historically low at 3.7%. Due to persistent lab our shortages, firms continued to hire foreign workers, who accounted for 15.7% of total employment. While nominal wage growth moderated, it remained above the long-term average, reflecting both past inflation a nd ongoing labour market tightness. Inflation declined sharply, from 7.2% in 2023 to 2.0% in 2024. This was largely the result of past monetary policy decisions, a fall in wholesale energy prices, easing global supply c hain pressures, and cyclical slowdown in certain sectors of the domestic economy.

Inflation declined sharply, from 7.2% in 2023 to 2.0% in 2024. This was largely the result of past monetary policy decisions, a fall in wholesale energy prices, easing global supply c hain pressures, and cyclical slowdown in certain sectors of the domestic economy. The banking sector experienced mostly favourable business trends, generating above-average net interest income in 2024 compared to previous years. Lending activity strengthened overall, although trends varied across segments. Lending to non-financial corporations was very weak, while househol d lending, particularly consumer loans, saw a notable increase. The main driver of rising loan demand was the decline in the general level of interest rates in 2024. SMEs in the national economy Small and medium-sized enterprises represented 99.6% of all business entities in 2024, of which 87.1% were micro enterprises. They generated 61.3% of the total turnover and employed 65.7% of all employees. Table 2. Number of SMEs in Slovenia 2018 2019 2020 2021 2022 2023 2024 2024 share Micro enterprise (09) 54 419 54 837 54 623 55 245 55 837 57 058 58 010 87.12 Small enterprise (1049) 5 887 6 261 6 210 6 461 6 827 6 941 6 943 10.43 Medium enterprise (50-249) 1 271 1 315 1 302 1 320 1 371 1 391 1 363 2.05 SMEs - Total 61 577 62 413 62 135 63 026 64 035 65 390 66 316 99.59 Large enterprise (250+) 263 265 258 266 271 273 270 0.41

SMEs - Total 61 577 62 413 62 135 63 026 64 035 65 390 66 316 99.59 Large enterprise (250+) 263 265 258 266 271 273 270 0.41 Total 61 840 62 678 62 393 63 292 64 306 65 663 66 586 100 5

FINANCING SMES AND ENTREPRENEURS 2026: SLOVENIA © OECD 2026

Source: Statistical Office of the Republic of Slovenia SME lending Following a period of intensified borrowing during times of strong economic growth , firms recorded a slowdown in financing via loans. Over 2023 and 2024, the outstanding stock of S ME loans contracted by approximately 7%, reflecting a marked decline in demand. In 2023, the primary drivers of reduc ed loan demand were high interest rates and lower investment financing needs. By 2024, however, the decline was largely influenced by the improved availability of internal resources, suppo rted by rising corporate profits. Additionally, growing competition from both other banks and non-bank lenders , particularly in an environment of falling interest rates, further contributed to the reduced reliance on domestic bank loans. In contrast to the decline in domestic bank lending, borrowing from foreign parent companies and from other non-financial corporations in Slovenia continued to grow.

The decline in bank lending over 2023 and 2024 was broad-based, across activiti es and company sizes as well as loan purpose. In terms of the size of the firms financing themsel ves at banks, the decline in outstanding loans was evident at firms of all corporate sizes, with SMEs ex periencing a slightly larger decrease (–7.2%) compared to large firms ( –6.6%). As a result, the share of SME loans in total business lending remained just above 50%, consistent with the average of the past eight years. After a stead y decline since 2012, the share of short-term SME loans stabilised at just below 15% ov er the last three years.

lending remained just above 50%, consistent with the average of the past eight years. After a stead y decline since 2012, the share of short-term SME loans stabilised at just below 15% ov er the last three years. The decline in bank lending in 2024 was primarily driven by an increase in lo an repayments. While new business lending rose, this growth was limited to large enterprises. New loans to SMEs, on the other hand, declined for the second consecutive year, in line with weaker demand. Credit conditions By the end of 2022, financing conditions for the non-banking sector had worsened significantly compared to previous years amid the strong inflationary pressures. Interest rates for SMEs rose from 2.3% in 2021 to 5.2% in 2024, though they already began to decline in the second half of 2024 as monetary policy eased. While large enterprises enjoyed overall better credit terms during this period, interes t rates for large firms stood just below 5% in 2024. The interest rate spread continued to decrease, showing that credit conditions for SMEs and large companies are converging. According to the Bank of Slovenia’s annual survey on access to finance, firms rep orted improved access for the second consecutive year in 2024. Key business constraints such as production costs, inflation, and the availability of skilled labour eased in 2024, especially for large firms. Access to finance was generally seen as one of the least significant obstacles. However, among SMEs, the share of firms citing financing as a major constraint increased. Firms reported a net increase in the need for nearly all sources of finance in 2024. At the same ti me, they experienced improved net access to most sources of finance, which led to a considerable narrowing of the financing gap in 2024. Firms continued to rely more heavily on internal sources of financing in 202 4, which reduced the demand for external funding. For the second consecutive year, the number of firms that did not apply for external financing increased, with the primary reason being the availability of su fficient own funds. According to

Firms continued to rely more heavily on internal sources of financing in 202 4, which reduced the demand for external funding. For the second consecutive year, the number of firms that did not apply for external financing increased, with the primary reason being the availability of su fficient own funds. According to firms, business-specific factors had the most positive influence on access to exter nal financing, while the general economic situation and the availability of government financial incenti ves had the most negative impact. Amid the falling interest rate and declining financing costs, firms reported an improvement in financing conditions, which nevertheless remained worse than in 2021. Despite the i mprovement, SMEs6 

FINANCING SMES AND ENTREPRENEURS 2026: SLOVENIA © OECD 2026

remained worse off than large firms. Regardless of these challenges, firms were l argely successful in securing the financing they sought across all sources, with rejection rates remaining negligible. Looking ahead, the vast majority of firms had planned to invest during the 2025 –2027 period, primarily in equipment and machinery, real estate, and business expansion. These investments were expected to be financed mainly through internal funds and bank loans. Government policy response Besides bank lending, the government of the Republic of Slovenia offered through its imple menting institutions other sources of finance. The SID bank, the national development bank, acts as a (1) manager of fund of funds structure of the European cohesion funds (ERDF) for the recently financial perspectives, which las t from 2014-2020 and 2021-2027 (directly or indirectly via financial intermediaries as commercial banks or state financi al bodies (i.e., the Slovene Enterprise Fund)), (2) complementary financial institution to commercial banks through own loan facilities as well as guarantee lines to support the Slovene SMEs domestic ally and abroad and (3) developer of equity financing programmes in Slovenia. Additionally, the Slovene Enterprise Fund, acts as a public fund and a financial institution of Ministry of Economy, Tourism and S port, offering favourable

own loan facilities as well as guarantee lines to support the Slovene SMEs domestic ally and abroad and (3) developer of equity financing programmes in Slovenia. Additionally, the Slovene Enterprise Fund, acts as a public fund and a financial institution of Ministry of Economy, Tourism and S port, offering favourable financial resources including guarantees for bank loans with the interest rate sub sidy, (micro)loans and grants (for innovative startups, for digital transformation of SMEs, etc.). SLOVENE ENTERPRISE FUND In 2025 Slovene Enterprise Fund tendered favourable financial resources for mic ro, small and mediumsized companies in the form of: • guarantees for bank loans with an interest rate subsidy, facilitating faster and easier acces s to more favourable bank financing under reduced collateral requirements. • micro-loans for smaller investments and working capital, aimed at improving busi ness operations and liquidity loans to mitigate the impacts of the energy crisis on the economy; and • grants for the launch of innovative start-up companies and for the wood-processing industry, aimed at supporting product development, market entry and strengthening competitiveness.

The Slovenian Enterprise Fund approved EUR 176.05 million in financial incentives for SMEs in 2025 and supported 4,154 projects. The total volume of supported investments amounted to EUR 238.35 million. In 2025, SEF has also run a streamlined voucher scheme, serving as a simplified support mechanism cofinancing specialised services provided by external experts or institutions, ena bling SMEs to strengthen capacities, improve processes and enhance competitiveness. The scheme included six different vouchers, covering legal/corporate status transformation, R&D and business design in the wood-proc essing sector, ownership transfer, certification-related services, intellectual property protection, and pa rticipation in economic delegations abroad. Slovene enterprise fund (SEF) has been focusing since 2006 on supporting young innovative companies through start-up grants. On 2023 and 2024, however, the Slovene Enterprise Fund had no active risk capital programmes. In 2025, a public tender was launched, the Slovene Technology Fund in the amount

through start-up grants. On 2023 and 2024, however, the Slovene Enterprise Fund had no active risk capital programmes. In 2025, a public tender was launched, the Slovene Technology Fund in the amount of EUR 10 million. The SEF also have active funds under Central European Fund of Funds (CE FoF).

Central Europe Fund of Funds: SEF is involved in the Central Europe Fund of F unds (CEFoF), designed by the EIF in close co-operation with governments and national agencies of Slovenia, A ustria, Czech Republic, Slovakia and Hungary. Its aim is increasing equity investments in SMEs in the Central European 7

FINANCING SMES AND ENTREPRENEURS 2026: SLOVENIA © OECD 2026

region. The fund gives access to venture capital for SMEs and mid-cap companies (companies with up to 500 employees) in the phase of rapid growth, through supported venture and private capi tal funds. Investment commitments were made to 9 private and venture capital funds. Size of the fun d of funds (CEFoF) is EUR 81 million, of which EUR 8 million is the contribution by the Slovene Enterprise Fund. With additional private capital invested through venture capital companies within the framew ork of CEFoF, the fund sizes amount to EUR 674 million. At the beginning of 2022, the first i nvestment in the Slovenian company Marles Hiše d.o.o. was completed by Invera PE Fund in the amount of EUR 9.01 million. The aggregate size of the nine funds represents EUR 694.2 million, with a fi nal multiplier of 8.6 times in terms of overall resources mobilised as supported by commitments from the CEFoF. Slovene Technology Fund 2025: Being very aware of the challenges that innovati ve companies face in obtaining financing for expansion into international markets, the Slovene enterprise fund (SEF) planned to take a step forward in supporting companies in the growth phase. This phase is extremely risky, but at the

Slovene Technology Fund 2025: Being very aware of the challenges that innovati ve companies face in obtaining financing for expansion into international markets, the Slovene enterprise fund (SEF) planned to take a step forward in supporting companies in the growth phase. This phase is extremely risky, but at the same time requires high investments, which are crucial for the survival and growth of young companies. In order to fill this gap in the market, the SEF created the Slovenian Technology Fund (STS 2025 ). The Slovene Enterprise Fund (SPS) had a public tender for the Slovenian Technol ogy Fund in 2025, offering EUR 10 million in funds for investment in two seed/venture capital funds. Two venture capital management companies were selected, which managed to raise the most private investments or investment commitments.

Funds: • Silicon Gardens Fund III, special investment fund: Size of the fund is EUR 32. 51 million , commitment by the Slovene Enterprise Fund EUR 5 million. The fund's investment strategy is not limited to specific industries or sectors, but priority is given to investments in the digital technology industry. Geographically, SGF III focuses on, but is not limited to, investments in companies whose founders come from Slovenia, Croatia, Serbia, and other countries in the Adriatic region. The fund currently has 15 investments. • Tivoli Ventures, alternative investment fund: The fund focused on investing in pre-seed, seed, and Series A stages of fast-growing technology companies. It operates with a primary focus on Slovenia and the wider region. The Fund is still not active (not yet in the investment phase). Commitment by the Slovene Enterprise Fund is EUR 5 million, soft commitments from private investors, mainly institutional investors like pension funds are EUR 12.5 million. The fund is in the process of obtaining approval for Special Investment Fund status from the ATVP.

Table 3. Overview of the financial and substantive lines of the 2025 Slovenian Enterprise Fund

FINANCIAL LINES NUMBER OF

APPROVED

PROJECTS

in % AMOUNT OF APPROVED

obtaining approval for Special Investment Fund status from the ATVP. Table 3. Overview of the financial and substantive lines of the 2025 Slovenian Enterprise Fund

FINANCIAL LINES NUMBER OF

APPROVED

PROJECTS

in % AMOUNT OF APPROVED FUNDS IN EUR in % Guarantees 542 13,0% 71.398.708,91 40,6% Loans 1.640 39,5% 59.704.824,00 33,9% Incetives for digital transformation 231 5,6% 22.795.551,00 12,9% Incentives in the wood industry 42 1,0% 2.412.431,98 1,4% Start-up incentives 80 1,9% 3.660.000,00 2,1% Slovenian Technology Fund The Fund supported 2 private finds that will seek investments in SMEs. 10.000.000,00 5,7% TOTAL FINANCIAL LINES 2.535 61,0% 169.971.515,89 96,5%8 

FINANCING SMES AND ENTREPRENEURS 2026: SLOVENIA © OECD 2026

SUBSTANTIVE SUPPORT Vouchers 1 300 31,3% 3.920.585,69 2,2% Comprehensive Support Services 199 4,8% 1.401.281,83 0,8% Substantive support 120 2,9% 763.410,15 0,4% TOTAL SUBSTANTIVE SUPPORT 1 619 39,0% 6.085.277,67 3,5% TOTAL FUND SUPPORT 4 154 100,0% 176.056.793,56 100,0%

Throughout its years of operation, as in 2025, the Fund has approved the most funds in the form of

TOTAL FUND SUPPORT 4 154 100,0% 176.056.793,56 100,0%

Throughout its years of operation, as in 2025, the Fund has approved the most funds in the form of guarantee lines (43%), followed by loans (41%), which have gained importance in recent years. Other lines have a smaller percentage of approved funds. Table 4. Overview of SEF incentives in the period 2021 – 2024 FINANCIAL LINES AMOUNT OF APPROVED FUNDS IN EUR M in % Guarantees with interest rate subsidy 284,71 mio EUR 43 % Direct loans 141,63 mio EUR 21 % Crisis liquidity loans 131,14 mio EUR 20 % TOTAL LOANS 272,77 mio EUR 41 % Special incentives for digitalisation 29,99 mio EUR 5 % Special incentives for initial investments in less developed areas 19,93 mio EUR 3 % Special incentives for wood 6,82 mio EUR 1 % Start-up incentives 6,48 mio EUR 1 % Seed capital 6,47 mio EUR 1 % TOTAL FINANCIAL LINES 627,18 mio EUR 79,7 % SUBSTANTIVE SUPPORT Vouchers 31,23 mio EUR 5 % Content Support 6,34 mio EUR 1 % TOTAL SUBSTANTIVE SUPPORT 37,57 mio EUR 5,6 % TOTAL FUND SUPPORT 664,75 mio EUR 100,0 % SID BANK At the end of 2025, net loans of SID Banka totaled EUR 1,65 billion (end of 2023: EUR 1.67 and at the end of 2024 EUR 1,51 billion), with a structural increase in the share of direct financing. Funding is implemented by established instruments, which are then adapted to curr ent needs. It is based on long-term earmarked loans to commercial banks, direct loans to enterprises with or without state aid status (especially under financial engineering instruments), export credits, project finance, debt buy-backs,

Funding is implemented by established instruments, which are then adapted to curr ent needs. It is based on long-term earmarked loans to commercial banks, direct loans to enterprises with or without state aid status (especially under financial engineering instruments), export credits, project finance, debt buy-backs, debt incursions and other forms of risk-taking. The volume of loans to non-bank customers decreased by 2.6% in 2025 and amounted to EUR 1.3 b illion at the end of the year. At the end of 2025, the balance of the loan portfolio amoun ted to EUR 1 406 815 thousand (December 31, 2024: EUR 1 512 225 thousand). Net loans decreased in both the corporate and bank financing areas. SID Bank directly placed EUR 249 974 thousand in loans to the non-banking sector 9

FINANCING SMES AND ENTREPRENEURS 2026: SLOVENIA © OECD 2026

in 2025, which was significantly above the original plan In terms of main purposes, the largest share in 2025, 87.3% of the value of all new loans, was for the development of a competit ive economy, 9.4% for regional development, and 3.3% for the development of a knowledge society and inn ovative entrepreneurship. In terms of the value of new loans, the largest borrowers were firms in manufacturing (43.0% of the total), followed by wholesale and retail trade (12.9%), transportation and storage (10.3%), accomm odation and food service activities (7.6%), activities related to telecommunications, computer pro gramming, consultancy, computer infrastructure and other information services (7.3%), real estate activiti es (3.7%), construction (3.6%), professional, scientific and technical activities (3.2%) and other service activities (8.4%). The total net amount of loans granted from all financial engineering programmes amounte d to EUR 519

construction (3.6%), professional, scientific and technical activities (3.2%) and other service activities (8.4%). The total net amount of loans granted from all financial engineering programmes amounte d to EUR 519 943 thousand, which is 22.8%more than at the end of 2024. In 2025, 79 contracts were signed worth EUR 147 230 thousand. These measures ensure a high multiplier and also revolving effect of state budget funds. The multiplier effect (increase in the total volume of financing in relation to the invested state funds and also the reuse of returned funds) varies by loan fund and at the end of 2025 ranged between 3.5 a nd 8.3. In 2026, SID Bank in co-operation with the Ministry of economy, tourism and sport wi ll establish two new loan funds within the framework of its financial engineering work. The first fund is for financing al l kinds of investment with the aim of promoting investment and encouraging the competitiveness of the economy, while the second fund is aimed at anti-crisis financing, and will serve as a safety mechanism to protect the economy from major shocks that hit firms outside their ability to influence, whi le during economic good times the focus will be on development financing. A total of EUR 1 billion in products from the two loan funds will be available, and they will therefore represent the foundation of SID Ban k’s financing of the Slovenian economy over the medium term. SID bank has established programmes for equity financing which includes supporting innovative and hightech start-ups and scale-ups in Slovenia. It offers seed capital and convertible loans to support early-stage development, product commercialisation, and scaling of technology-driven businesses. Within the framework of equity financing, SID Bank has provided funding through the S EGIP programme and a separate investment in the Three Seas Initiative Fund.

SEGIP: In 2017, SID Bank, together with the EIF, established the Slovenian Capi tal Growth Investment Programme (SEGIP) in the total amount of EUR 100 million (EUR 50 million SID Bank and EUR 50 million

and a separate investment in the Three Seas Initiative Fund.

SEGIP: In 2017, SID Bank, together with the EIF, established the Slovenian Capi tal Growth Investment Programme (SEGIP) in the total amount of EUR 100 million (EUR 50 million SID Bank and EUR 50 million EIF), and among the first domestic recipients of funding were fund managers ALFI PE d.o.o. and Generali Investments d.o.o (later Generali Investments sold their PE fund to ALFI PE). The SEGIP programme was subsequently expanded twice: in 2021 by additional EUR 22 million (for the establishment of a technology transfer fund within the CEETT platform in co-operation with HBOR; the established fund is managed by Vesna Venture Capital), a nd in 2022 by additional EUR 98 million (EUR 40 million for an early-stage VC fund – managed by Pan Adria Ventures and EUR 50 million for two PE succession funds – managed by Prva Capital Partners and MS

PE). The total volume of SEGIP after the expansions amounts to EUR 220 million, of which EUR 178 mil lion is currently allocated.10 

FINANCING SMES AND ENTREPRENEURS 2026: SLOVENIA © OECD 2026

Figure 1. Trends in S