Current news for SMEs

Finnvera’s Start Guarantee, SME Guarantee and Finnvera Guarantee can be used for working capital needs caused by the coronavirus. Read more about our services.

Finnvera takes a flexible approach towards reorganisation needs for financing caused by the coronavirus situation and the crisis in Ukraine. The company must have the potential to operate profitably in the long term.

Contact your bank in time

We recommend our customers to proceed as follows:

  1. Contact your bank as early as possible.
  2. Finnvera and banks are taking a flexible approach towards payment arrangements and such arrangements should be made with the bank as early as possible.
  3. Finnvera enables new working capital financing primarily by guaranteeing a loan granted by a bank. Negotiate with your bank. Your bank can apply for a guarantee from Finnvera on behalf of your company. 
    1. A fee is charged for Finnvera's guarantee and it is not a direct subsidy. With fees Finnvera covers its share of future credit losses caused by guarantees. Guarantees up to EUR 1 million are mainly issued without collateral. The price is affected, for example, by the risk category based on the customer company's financial statements and credit period. Pricing must also take into account EU and state aid rules. Finnvera cannot compete with banks for the price of financing.
  4. If the bank financing is not possible, your company can also under certain conditions apply for a working capital loan for financing needs caused by the corona situation directly from Finnvera.

Finnvera’s solution for working capital needs

Finnvera’s Start Guarantee, SME Guarantee and Finnvera Guarantee can be used for working capital needs caused by the coronavirus. Your bank or another financier can apply the guarantees on behalf of your enterprise. 

  • The Start Guarantee is directed at companies which have been operating for a maximum of three years. Finnvera's guarantee coverage can be up to 80%.
  • The SME Guarantee is directed at companies which have been in operation for more than three years. It can be used to cover a loan of maximum EUR 150,000. 
  • The Finnvera Guarantee can also be used for the increased working capital needs due to the coronavirus in cases where Finnvera’s Start Guarantee or SME Guarantee is not suitable in the company’s situation for example due to the amount of the loan needed.
  • Please note: Also, financiers can apply for a Finnvera guarantee on behalf of the company.

Finnvera's guarantee coverage

In the Start Guarantee and Finnvera Guarantee Finnvera's guarantee coverage is at the most 80 per cent. In the SME Guarantee, Finnvera's guarantee coverage is fixed at 80 per cent.

Working capital loan for the corona situation

Your company can also, under certain conditions, apply for a working capital loan directly from Finnvera, if the financing of the company otherwise cannot be arranged with the bank. The loan cannot be used to repay the financier's existing receivables. Your company must have at least one official financial statement available. The company's equity must not be negative in the last official financial statements and your company's credit information must not be in default. The company’s business must have been profitable before the corona crisis, and the company must have sufficient liquidity.

Finnvera has reduced and simplified the pricing 

Finnvera has reduced and simplified the pricing of the guarantees used in financing working capital for the corona situation retroactively from the beginning of March 2020. The annual guarantee commission for the Start Guarantee for start-ups, the SME Guarantee for companies that have been active for more than 3 years and Finnvera Guarantee's fast track is a maximum of 1.75%. The service fee for the Start Guarantee and the SME Guarantee is 0.1% of the amount of the guarantee.

Also note,

Finnvera cannot provide financing for building developers, the forestry businesses, arable farming or livestock farming. In addition we cannot finance financial activities, gambling or adult entertainment or societies and companies that do not fulfill the criteria of business activities and that do not seek business profit.

Note the following with regard to state aid

Finnvera does not grant direct subsidies or grants to companies, but Finnvera’s financing includes so-called imputed State aid, which can be seen in the price and/or terms and conditions of financing that are more favourable than for the market price level confirmed by the EU. If the price of Finnvera’s financing is lower than the EU’s market price, the price difference is calculated as imputed aid.

The primary form of state aid in Finnvera’s financing is de minimis aid. Finnvera cannot grant this as direct subsidies, but it is included in Finnvera’s financing as a more favourable price and/ or better terms. An enterprise can receive de minimis aid from different aid providers to the maximum amount of EUR 200,000 during a period of three years. If the enterprise is about to reach or has reached the maximum amount of de minimis aid or if the enterprise is an enterprise in difficulty according to the de minimis decree, aid might not be possible or aid may require a higher financing price level, or so-called pricing without including aid.

Read more about the State aid rules and de minimis aid

Do you need instalment-free months?

Finnvera's guarantees

  • Contact your bank. The bank submits all applications regarding guarantees directly to Finnvera on your behalf.

Finnvera's loan

  • You can apply for a instalment-free period or change to a repayment schedule using an electronic application in our Online Services.

We strive to process the applications as quickly as possible, but please note that the service may be subject to high loads.

We encourage our customers to prepare realistic estimates of the revenue and expenses and to contact their bank in time if they need additional financing. 

If you are unable to pay the invoice you have received

If you are unable to pay the invoice on the due date, please contact us as soon as possible. Contact us before the invoice is due through Online Service (Online Service -> Apply for changes to an existing loan) or send a message (Online Service -> Messages).

Finnvera uses Intrum's services. Intrum sends payment reminders and payment request for overdue invoices for Finnvera's domestic financing. If, despite payment reminders or a payment request, we do not receive payment for the overdue receivable or if no other arrangement is agreed for the payment of the overdue receivable, Intrum will initiate legal recovery on Finnvera's behalf. Intrum also offers a telephone service for overdue invoices to some of Finnvera's customers. Please check the contact information for the unit handling your case on your latest invoice. This unit might have changed since the due date.

If the payment is not in our account on the due date, we will charge post-maturity interest for the outstanding sum. A fee is also collected for sending payment reminders. The interest rate for overdue receivables is 16%. The first payment reminder will be sent 14 days after the due date. The collection fee for the payment reminder and notification letter to the guarantor is 7.44 euros / letter. You can find other costs in our service fee list

If you have not received the invoice covered by the payment reminder, check that your address information is correct. Please notify Finnvera's customer service of any changes on the Online Service (Online Service -> Messages), using the contact form on our website or by e-mail asiakaspalvelu(at) 

Export trade financing in the corona situation

Finnvera can grant new short-term guarantees for the marketable risk countries as a part of the measures due to the corona virus crisis until 31.12.2021. Private credit insurance companies are still the primary source of credit insurance for these countries, and Finnvera’s role is to complement the market.

Financing for large corporates in the corona situation

Finnvera can also guarantee financing for large corporates in the situation caused by the corona virus:

  • Contact your financiers.
  • The maximum guarantee can be up to 80% and the total liability EUR 100 million at the most. However, Finnvera cannot become the main financier.
  • We handle large projects case-specifically.

Information about different organisations’ financial services

The Government has agreed on a comprehensive package to ease the economic pressure on businesses. The Ministry of Economic Affairs and Employment, together with other organisations in the MEAE Group, monitor the effects of the coronavirus on business activities, employment and security of supply, and will take the necessary measures to alleviate negative impacts.

Information for businesses can be found on the MEAE’s webpage

Our services

Our customer service serves as usual in chat and by phone at number +358 29 460 2582.

Financing applications can be made using our Online Service.

The Start Guarantee and the SME Guarantee are applied for through the bank. Companies should contact the bank directly; the bank will send the application to Finnvera.

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