Guarantee Funds for Small Enterprises

This document is the second edition of the ILO manual on credit guarantee funds. This manual guides donors, consultants and fund managers through all critical aspects of guarantee fund design and management. It helps the reader to determine whether a guarantee fund is the appropriate mechanism to facilitate access to finance for small enterprises and what model and institutional arrangement would be best in a particular context.

The manual covers:

• The role of credit guarantees;
• Guarantee fund models;
• Eligibility;
• Risk sharing;
• Operating procedures and processes;
• Relation management and marketing;
• Organisation, management and staffing;
• Pricing and financial sustainability;
• Accounting and financial reporting;
• Performance monitoring.