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SME Guarantee

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SME Guarantee

Finnvera’s SME Guarantee makes it easier for growth seeking SMEs to get a bank loan for investment, working capital or product development needs. Your bank files an application on your behalf. Finnvera’s SME Guarantee which does not require a countersecurity can now, as an exception, be used for working capital needs caused by the coronavirus.

Finnvera’s SME Guarantee which does not require a countersecurity can now, as an exception, be used for working capital needs caused by the coronavirus by companies which have been operating for more than three years. The SME Guarantee can be used to cover a loan of maximum EUR 150,000. Furthermore, the SME Guarantee is still available for the financing of investments and working capital of SMEs seeking growth.

Terms and conditions of the SME guarantee

The SME Guarantee is intended for an SME that meets the EU definition of an SME and is more than three years old from its first registration in the Trade Register. A company can be a domestic company or a registered business name, but not a cooperative or a registered association. A company or business name that is established and operates in Finland is considered domestic. The company may also be owned by the company, but their combined holding must be less than 50% in total.

The SME Guarantee is not, however, suitable for the repayment of overdue amounts to the provider of financing or the reorganisation of the liabilities of providers of financing.

The applicant company must minimally have a Rating Alfa classification of B (Suomen Asiakastieto Rating Alfa classification). At least 50% of the company must be owned by private individuals. The guarantee requires that your enterprise and its responsible persons have a clean credit history.

The minimum amount for an SME Guarantee is EUR 10,000. Finnvera’s guarantee coverage is always 80%. The maximum amount of a single SME Guarantee granted for an enterprise at one time is EUR 120,000. For larger projects, the need of financing cannot be shared on two SME Guarantee applications. If the financing need is larger, the company should apply for Finnvera Guarantee through Finnvera's e-service after discussing with the bank. 

A new SME Guarantee may be granted at least two months after the previous SME guarantee decision. The total sum of SME Guarantees granted to one enterprise may be up to EUR 240,000. 

Finnvera does not require self-financing from the applicant.

The credit rating of the company and its responsible persons must be in order. The responsible person's business relations must not have a bankruptcy entry or a partnership with defaults.

Loan to be guaranteed

Promissory note credit that must be drawn in its entirety at one time (partial drawing is not allowed).


SME Guarantee does not require collateral.


We provide financing for enterprises operating in almost every sector; only farming, forestry and the building developer’s business remain outside our range of financing. SME Guarantee cannot be used for financing company acquisitions, acquisitions of company's own shares or purchases of business premises or cars. Moreover, SME Guarantee cannot be used for export financing.

De minimis aid contained in Finnvera’s SME Guarantee may prevent the client from receiving other public support/aid. Alternatively, the SME Guarantee may be priced out of subsidy.

The provider of financing must report other aid or support granted at the same time in the SME Guarantee application. If this aid or support is not reported and the project contains other public aid or support in addition to Finnvera’s guarantee, other aid/support may be rejected from the client in connection with payment. Aid and support are granted by Centres for Economic Development, Transport and the Environment, Business Finland and municipalities, for instance.

The price of the SME guarantee

The price of the SME guarantee is determined by the company’s Rating Alfa classification given by Suomen Asiakastieto.

  • For SMEs in classes AAA or AA+ the guarantee commission is 0.95% p.a. of the guarantee balance reported by the bank.
  • For SMEs in class AA, A+, A and B the guarantee commission is 1.75% p.a.

The guarantee commission is charged at a 3-month interval. The service fee is 0,1% of the guarantee amount.

Alternatively, the guarantee may be priced out of subsidy when the de minimis aid contained in the SME guarantee may not be cumulated. However, in this case, the price will always be at least the price in the above price table.

The SME Guarantee is based on Finnvera’s agreement with banks on loan guarantee arrangements. The agreement makes it possible for Finnvera to guarantee loan in cooperation with the banks. The agreement encompasses all branches of Aktia Bank plc, Danske Bank A/S, Finland Branch, Fennia Mutual Insurance Company, Nordea Bank Abp, Oma Savings Bank Plc, OP Financial Group (OP-Services Ltd), POP Pankkiliitto osk, Savings Banks’ Union Coop and Ålandsbanken Abp (enterprises registered to Finland). If the bank used by your enterprise is not a member of the agreement related to the SME Guarantee, you can apply for financing directly in our online service for find an alternative financing solution.

This financing is made possible thanks to the Guarantee that has been provided by COSME and the European Fund for Strategic Investment (“EFSI”) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.

Applying for the SME guarantee

Your bank files an application on your behalf. The bank assesses your enterprise’s operating capacity, growth orientation or financing needs caused by coronavirus and creditworthiness before granting a loan. Finnvera makes an independent decision based on the bank's application and Finnvera's own overall assessment.

You or your company don’t need to be in direct contact with Finnvera.