CRIMSON FINANCE FUNDS

Macedonia SME Commercial Finance Fund
USAID, NORFUND, Crimson Capital    

2003 - Ongoing
Crimson Capital designed and manages this $4 million fund that provides innovative, short-term working capital finance products to small and medium sized enterprises (SMEs) in Macedonia. The Fund directly targets the problem of the “missing middle” in which vast majority of companies in developing countries cannot obtain short-term working capital financing needed to grow, employ more people, increase exports, and become competitive and viable for the long-term. The Fund utilizes products such as Purchase Order Finance and pre-export financing to address the lending needs of the SME sector. In 2012, the Fund received an additional $300,000 from USAID Macedonia to establish an Innovation Financing Vehicle (IFV) designed to support business innovation and start-ups.

To date, the Fund has made loans totaling more than $38.5 million to Macedonian SMEs, supporting over $321.54 million in new exports and more than 7,089 new, permanent jobs, including over 3,770 jobs for women and nearly 402 for minorities. Through its lending, the Fund has also indirectly supported more than 40,463 local farmers, 1,232 agro-collection points, more than 9,473 domestic buyers, and over 15,735 suppliers. The Fund extends loans to all regions of Macedonia, and targets all major sectors of the economy, including light manufacturing, trade, textiles, ICT, retail, agriculture, food processing and construction, but particularly targets SMEs under that are not being adequately served by existing financial institutions, including rural businesses, entrepreneurs and enterprises owned by women and minorities. The Fund is a principal provider of short-term trade finance for SMEs in Macedonia and plays a key role in the expansion and growth of SME activities in Macedonia.


Kosovo Crimson Finance Fund
USAID, NORFUND, Crimson Capital    

2003 - 2022

Crimson designed and managed the Crimson SME Finance Fund - Kosovo (CFF). CFF Kosovo provided innovative financial products (purchase order finance, pre-export financing, trade finance and leasing of productive equipment) and financial literacy/management capacity building to micro, small and medium enterprises (MSMEs). Funded by USAID, the Norwegian Investment Fund for Developing Countries (Norfund), the Norwegian Ministry of Foreign Affairs (NMFA) and Crimson Capital, CFF was fully licensed and supervised by the Central Bank of Kosovo as a non-bank financial institution (NBFI), and audited according to International Financial Reporting Standards (IFRS).
 
CFF made more than $29.5 million in loans and leases to SMEs, stimulating more than $147 million in new incremental sales and resulting in the creation of more than 3,900 new jobs, including over 900 for women and minorities. CFF loans helped its clients support over 3,100 farmers, 170 collection/storage centers, and over 4,300 SME suppliers.

In 2022, Crimson attracted the German company, Sanus Beteiligungs AG, to invest EUR 4 million into CFF Kosovo. It now operates as Deutsche Investment Fund and continues the commitment to serve underserved businesses in Kosovo including micro, small and medium enterprises (MSMEs), women owned businesses, and entrepreneurs

 
Albania Crimson Finance Fund
AADF, NORFUND, City of Tirana, Crimson Capital    

2015 - Ongoing
Crimson designed and operationalized the Crimson Finance Fund Albania (CFF Albania), a non-bank financial institution, established in partnership with the Norwegian Investment Fund for Developing Countries (NORFUND), the Albanian American Development Foundation, the City of Tirana, and the Inpulse Impact Fund of Belgium. CFF Albania is designed to improve access to finance for underserved small and medium enterprises (SMEs), entrepreneurs, innovators, women-owned businesses and farmers in Albania in order to catalyze business growth and job creation. CFF Albania provides loans, factoring and leasing of productive equipment to Albanian businesses in all productive sectors. CFF Albania opened its doors for business in March 2016.

To download CFF Albania’s 2023 Impact Report, click here.
 

To visit CFF Albania’s website, click here.