Finnvera in brief

Finnvera plc is a specialised financing company owned by the State of Finland. It provides its clients with loans, guarantees, venture capital investments and export credit guarantees. Finnvera has official Export Credit Agency (ECA) status.

When an enterprise's own resources or collateral are insufficient for acquiring financing on the commercial market, Finnvera grants financing for operations that are based on a good business idea and meet profitability criteria.

Finnvera gives guarantees against political or commercial risks associated with the financing of exports. Political risks are risks that arise from the economic or political situation in a country where a Finnish export company has customers. Commercial risks pertain either to the buyer or to the buyer's bank.

Finnvera's operations are steered by the industrial and ownership policy goals laid down by the State. Among these goals are: increasing the number of starting enterprises; enabling financing for changes encountered by SMEs; and promotion of enterprise growth, internationalisation and exports. In its operations, Finnvera is expected to adhere to the principle of economic self-sustainability.

The funds needed for granting credits to SMEs are obtained from the financial market. The European Investment Bank is a major lender. By virtue of the Act governing Finnvera's operations, Finnvera can obtain State guarantees for its acquisition of funds. Finnvera plc has no credit rating of its own.

On 31 March 2009, Finnvera had the following bonds in circulation:

• EUR 50,000,000
• NOK 4,100,000,000

The State of Finland covers some of Finnvera's credit and guarantee losses. This enables Finnvera to take higher risks and to share risks with other financiers.

The State is responsible for guarantees issued by Finnvera's Export Financing.