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Working capital loan for financing needs caused by the corona crisis

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Working capital loan for financing needs caused by the corona crisis

The focus of Finnvera's financing is still on guarantees, but a company can now also apply for a working capital loan directly from Finnvera if the company's loan financing otherwise cannot be arranged and Finnvera therefore cannot grant its financing as a guarantee. The loan cannot be used to repay the financier's existing receivables. The loan can be applied for in our online service. 

The amount of the loan can be EUR 50,000-300,000. The precondition for granting a working capital loan is that the company has been profitable before the corona crisis and that the company is assessed to have sufficient debt service capacity. In addition, the company must have at least one official financial statements at its disposal and the company's equity must not be negative. The company must also not have payment default entries.

Terms and conditions of the loan

The loan is granted under a Corona State Aid scheme and must therefore also fulfill the conditions of that State aid scheme:

  • The amount of the loan can be twice the salary expenses in 2019 at the maximum or 25% of the company's turnover in 2019
  • The company must not have been a so-called company in difficulty on 31 December  2019
  • The maximum loan period can be six years.

The Corona State Aid Scheme is temporary and will be available until 30.6.2021. Beneficiaries are reported to the EU Commission, which publishes them on the EU State Aid Portal.

Needs for loans larger than EUR 300,000 and loans that exceed the amount allowed by the Corona State Aid will be assessed on a case-by-case basis.

Please note: The processing of the application is accelerated if the latest official financial statements have been submitted to the Finnish Patent and Registration Office (PRH) before the loan application is submitted, and if the purpose of the working capital loan has been specified in the application to the nearest EUR 10,000.