Name: Ship Guarantee
Brand: Finnvera

Ship Guarantee

The Ship Guarantee is intended as security for credits granted to Finnish companies engaged in shipping or shipbuilding.

Companies engaged in shipping can apply for a Ship Guarantee for purchasing a vessel or a hull that is least 10 meters long and at most 10 years old and that will be used for merchant shipping. The guarantee may also be used to finance the conversion, repair and refurbishment.

Companies engaged in shipbuilding can apply for the guarantee as security for a loan taken for financing the construction of the vessel ordered by a Finnish shipping company. Finnish shipyards can also apply for export credit guarantees for the financial and security arrangements pertaining to the export project.

Terms and conditions of the Ship Guarantee

When a decision on the guarantee is made, special attention is paid to the applicant´s economic performance and to the importance of the project for the applicant´s prospects for business. Finnvera conducts a corporate analysis and a risk assessment of the applicant company and the project concerned.
Ship Guarantees are intended for projects that can be deemed commercially viable. The Ship Guarantee is granted as for own debt on behalf of the shipping company or shipyard. It can be granted to cover both domestic and foreign credits.

Applying for the Ship Guarantee

Finnvera's online service provides a secure and easy way for submitting financing applications. Log in to the service using your personal banking ID, certificate card or Mobile ID.

A shipping company registered in Åland shall enclose a statement from the Government of Åland with the guarantee application.

Ship Guarantee

Ship Guarantee

Terms and conditions of the Ship Guarantee

Conditions for granting the Ship Guarantee

Guaranteed credit sum, credit period and guarantee terms

Collateral

Applying for the Ship Guarantee