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Start Guarantee

Start Guarantee makes it easier for new enterprises to get a bank loan.

Start Guarantee is intended for newly launched enterprises that are owned by private individuals and meet the SME definition applied by the EU. Another criterion is that no more than three years has passed since their entry into the Trade Register. Start Guarantee can be granted for Finnish companies or registered private entrepreneurs but not for cooperatives.

Applying

Your bank files an application on your behalf. You or your company don’t need to be in direct contact with Finnvera.

Terms and conditions

Finnvera’s guarantee coverage can be at most 80%. However, the total sum of Start Guarantees granted to one enterprise may not exceed EUR 80,000. The minimum amount for a Start Guarantee is EUR 10,000.

Security

Special guarantee undertaking lodged by the principal shareholders must cover 25% of Finnvera’s guarantee sum. The minimum amount of the guarantee undertaking is EUR 3,000.

Restrictions

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. Start Guarantee cannot be used for financing company acquisitions, acquisitions of company's own shares or purchases of business premises or cars. Moreover, Start Guarantee cannot be used for export financing.

The State aid rules of the EU (the Start Guarantee includes de minimis aid) restrict the use of Start Guarantees for financing the acquisition of transport vehicles and equipment when the enterprise engages  in freight transport on behalf of third parties.

Price

The guarantee commission is charged at a 3-month interval and it is 3% p.a. of the guarantee balance reported by the bank. The service fee is 1% of the guarantee amount.

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-Services Ltd, POP Pankkiliitto osk, Svenska Handelsbanken AB (publ), Branch Operation in Finland, Savings Banks' Union Coop and Optia Savings Bank.

Switchboard

029 460 11 (weekdays 9:00 a.m. and 4:15 p.m.)


Financial advice

029 460 2582 (weekdays 9:00 a.m. and 4:15 p.m.)


Other matters

029 460 2790 (weekdays 9:00 a.m. and 4:15 p.m.)


Helsinki Headquarters

Porkkalankatu 1

PL 1010, 00101 Helsinki


Kuopio Headquarters

Kallanranta 11

PL 1127, 70111 Kuopio


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