Applying for financing during the setting up of a company requires careful planning and financial calculations. You can draw up business and performance plans using the electronic tool provided in My Enterprise Finland service. These plans are also required as attachments to the financing application submitted to Finnvera.
The minimum amount for a Start Guarantee intended for newly launched SMEs is 5,000 euros. The minimum amount for Finnvera’s other guarantee products is 10,000 euros.
It's often most convenient to apply for financing from a bank. However, if you are seeking a loan from a bank but do not have the collateral required by the bank, a partial guarantee (Start Guarantee) provided by Finnvera may be the solution.
The bank submits the application for the guarantees directly to Finnvera on your behalf. The loan and repayment terms are in accordance with the loan agreement concluded with the bank.
If Start Guarantee is not applicable for you financing need, other guarantees by Finnvera can be applied for through our Online Service.
You can also apply for a loan from Finnvera. The financing requirement determines whether Finnvera can act as the only provider of funding or whether other sources and sufficient self-financing are also needed. The financing requirement usually becomes clear when you prepare a business plan for your company.
If more than 50,000 euros is required, other providers of financing (usually a bank) and sufficient self-financing are also needed. In company acquisitions, the seller may also provide some of the funding.
Finnvera's co-financing rate is case-specific. Typically Finnvera's contribution (financing provided as a loan or a guarantee) will be 50 % of all external financing (Finnvera + bank). When a Start Guarantee is used, 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 self-financing requirement depends on the content of the project. In investments, Finnvera typically requires that 10–20 % of the funding is provided as self-financing, while in company acquisitions and generational transfers the requirement is 20 %.