Finnvera’s minimum loan and guarantee amounts will rise – the primary product for the financing of an SME start-up is the Start Guarantee
The minimum Finnvera Guarantee amount will rise to EUR 10,000 and the minimum Finnvera Loan amount to EUR 30,000 starting from 1 September 2018.
In line with its strategy, Finnvera is shifting the focus of financing granted increasingly to guarantees. The change is driven by the diversification of the corporate financing market, brought along by new operators and new forms of financing.
Finnvera’s primary product for the financing of an SME start-up is the Start Guarantee. With the Start Guarantee, an enterprise can get bank financing for its various investment and working capital needs. The entrepreneur agrees on the financing amount and other terms and conditions with their bank, and the bank also applies for a Start Guarantee from Finnvera on behalf of the entrepreneur. The minimum Start Guarantee amount is EUR 5,000 and the maximum amount is EUR 80,000.
If the SME was registered in the Trade Register more than three years ago, the Start Guarantee cannot be used. Instead, the enterprise can apply for loan or guarantee financing directly from Finnvera. In this case, the financing products used are mostly the Finnvera Guarantee or the Finnvera Loan. Starting from 1 September, the minimum Finnvera Guarantee amount is EUR 10,000 and the minimum Finnvera Loan amount is EUR 30,000. Applications for financing should be submitted through the online service.