Finnvera will no longer provide loans with state-granted interest subsidies for SMEs
According to the decision made by the Government in its spending limits discussions, the system under which Finnvera's loans have state-granted interest subsidies will be discontinued on 31 December 2013. After that date, Finnvera may no longer provide financing with interest subsidies for SMEs. The change will not affect the availability of the financing.
The discontinuation of the interest subsidies will also have an effect on the range of products offered by Finnvera as the microloan will no longer be available. In the future, other Finnvera products will be used for financing small enterprises.
At the same time, the terms and conditions for financing small projects will become more flexible as the special terms for interest subsidies (covering such matters as the number of personnel and ownership in the enterprise) will no longer apply. The terms and conditions for entrepreneur loans will also become more flexible.
Normal interest subsidies will apply to financing decisions made before the end of 2013 and the discontinuation will not affect existing financing.
Annamarja Paloheimo, Senior Vice President, tel. +358 (0)29 460 2539
Mirva Salenius, Head of Product Portfolio Management, tel. +358 (0)29 460 2542