Bridge financing means a loan granted by Finnvera to meet a company’s need for working capital during the period between a positive grant decision made by a Centre for Economic Development, Transport and the Environment (ELY Centre) or Tekes and the actual payment of the grant.
If a company needs bridge financing, it should contact Finnvera and the provider of the grant as early as possible. The application for bridge financing can be taken under evaluation already before the grant decision but Finnvera's financing decision will usually be made only after the positive grant decision.
In the case of grants from ELY Centres, bridge financing may be used if the company has received a development grant for investments or other development measures. Bridge financing can not be used in cases of preparation funding from ELY Centres.
A prerequisite for a loan by Finnvera is that Tekes or an ELY Centre has made a positive grant decision. The maximum loan sum is 70% of the grant; however, not more than EUR 500,000 for grants issued by Tekes.
The application for bridge financing is filed through Finnvera’s Online Service. The final terms of financing will be specified according to Finnvera's financing decision.