Skip to main content
Home
Help & contact
  • Help
    • FAQ
    • Legal notice & privacy policy
    • Accessibility
    • Anti-fraud policy
  • Contact
    • Contact form
    • Our team
    • National Point of Contact
    • Jobs and tenders
My account
  • Create new account
  • New website! you need to:Reset your password
  • Discover the programme
    Back

    About us

    • What is Interreg Europe ?
    • Facts and figures
    • Programme structure
    • 2014-2020 programme
    • Country specific info

    Programme actions

    • Image
      Projects
      Discover approved projects and get inspired
    • Image
      Policy Learning Platform
      Get policy advice and find solutions for your region

    Programme documents

    • Image
      Programme manual
    • Image
      Cooperation programme
    • Image
      Annual implementation report
    • Image
      Logo and branding guidelines

    Programme news

    A green landscape with hills covered by dense forestry and a herder with cattle in front
    Governance and finance for protected areas
    19 May 2022
    See all

    See also

    • Apply to next call
    • See project results
    • Look for policy solutions
  • Look for funding
    Back

    Next call for projectsDiscover our terms of reference

    Country specific informationCheck your country rules

    Main navigation - Steps

    • Image
      1. Check project relevance
      Use our self-assessment tool
    • Image
      2. Get inspired
      See approved projects and project ideas
    • Image
      Now available!
      3. Share your project idea
      Explain what you want to do with your project
    • Image
      4. Find partners
      Look for relevant organisations
    • Image
      5. Ask for feedback
      Get guidance before applying
    • Image
      Until 31 May 2022
      6. Apply for the call
      Submit your project proposal

    Applicant news

    A green landscape with hills covered by dense forestry and a herder with cattle in front
    Governance and finance for protected areas
    19 May 2022
    See all

    See also

    • Project implementation guidance
    • Support & FAQs
  • Approved projects
    Back

    Approved projects

    Projects by topic: See all
    Image
    Smart
    Image
    Green
    Image
    Connected
    Image
    Social
    Image
    Citizens
    Image
    Governance
    Search approved projects by :
    Country(France, Italy, Germany...)

    Implement project

    • Programme manual
    • Guidance and templates
    • First level control

    Project results

    • Overview
      Latest programme achievements
    • Image
      Web documentary
      A set of video stories about project results

    Project news

    A green landscape with hills covered by dense forestry and a herder with cattle in front
    Governance and finance for protected areas
    19 May 2022

    See also

    • Facts and figures
    • Policy solutions
  • Get policy advice
    Back

    Our expert team

    The Policy Learning Platform consists of a team of Thematic Experts supporting practitioners and policymakers across Europe.
    More about the experts
    Discover the Platform

    Contact us

    Our policy learning services

    • Image
      Peer review
      Get feedback from relevant peers during a two-day in-depth analysis. (for public authorities)
    • Image
      Matchmaking session
      Get inspired from good practices across Europe during a two-hour exchange
    • Image
      Policy helpdesk
      We provide answers to any type of questions you might face in regional policymaking

    Platform news

    A green landscape with hills covered by dense forestry and a herder with cattle in front
    Governance and finance for protected areas
    19 May 2022
    See all

    See also

    • People in our community
    • Policy solutions
    • Project funding
  • Find policy solutions
    Back

    Resources by topic

    See all
    Image
    Smart
    Image
    Green
    Image
    Connected
    Image
    Social
    Image
    Citizens
    Image
    Governance
    Search resources by :
    Country(France, Italy, Germany...)

    Resources by type

    • Good practices
      Don't miss!
      Tested and transferable solutions from approved projects
    • Stories
      Thematic articles about our good practices
    • Policy briefs
      Expert analyses of the Interreg Europe projects and topics
    • Event learnings
      Recordings and materials from our webinars and workshops
    • Expert support reports
      Reports from peer reviews and matchmaking sessions

    Thematic news

    A green landscape with hills covered by dense forestry and a herder with cattle in front
    Governance and finance for protected areas
    19 May 2022
    See all

    See also

    • Our policy advice
    • Project implementation guidance
  • Meet the community
    Back

    Connect with members

    Members by interests : See all
    Image
    Smart
    Image
    Green
    Image
    Connected
    Image
    Social
    Image
    Citizens
    Image
    Governance
    Search members by :
    Country(France, Italy, Germany...)

    Connect with

    • Interreg Europe team
    • Platform experts
    • National points of contact

    Create an account

    Connect with like-minded people from all over Europe and:

    • Find cooperation partners
    • Follow their latest activities
    • Exchange good practices
    • Get personalised feed

    Read more

    Create account

    Community news

    A green landscape with hills covered by dense forestry and a herder with cattle in front
    Governance and finance for protected areas
    19 May 2022
    See all

    See also

    • Our policy advice
    • Projects ideas looking for partners
  1. Home
  2. Find policy solutions
  3. Good practices 
  4. Finnvera working capital business loans and loan guarantees available to SMEs

Finnvera working capital business loans and loan guarantees available to SMEs

SmartSME competitiveness
By project CRAFTS CODE
Published on 08 February 2022
Thu Vo
International Project Officer
See phone number Sign up to contact

Send an email

Thu Vo

+358207663306
About text formats
You can upload up to 3 files with a storage duration limit of 2 weeks (from email reception date). Supported format: .pdf, .doc. docx. xls .xlsx . odt .ods . jpg .png. Maximum size : 10mo.

Send an email

Your mail has been sent !

This window will automatically close in 5s...

Close

About this good practice

Finnvera is a special financier owned by the State and the Export Credit Agency (ECA), Finland's official export guarantee agency. Finnvera working capital business loans and loan guarantees are available to SMEs, including crafts companies.

Finnvera makes it easier for companies including craft SMEs to qualify for bank loans of working capital by providing loan guarantee protection. SMEs may not otherwise qualify for these loans because they lack collateral or sufficient income or assets. Working capital can be used for purposes such as increasing inventory or receivables.

Many SMEs, and especially craft sector SMEs, are struggling because of the COVID-19 pandemic. Finnvera has adapted its Working Capital Loan Guarantee in response to these challenges.
1. The initial guarantee is intended for companies that have been in business for a maximum of three years. In the initial guarantee, Finnvera's guarantee share does not exceed 80%.
2. The SME guarantee is intended for companies that have been in business for more than three years and can guarantee a loan of up to €150,000 from the bank.
3. The Finnvera guarantee can also be used to finance the increased working capital needs of companies due to the Coronavirus, if Finnvera's initial guarantee or SME guarantee is not suitable for the company's needs.
Sign up to see the expert opinion

Resources needed

- Applicant companies may receive de minimis deferred State aid support from different countries or municipalities up to max €200,000 over 3 years
- Coronavirus support, temporary State aid framework
- 369 Finnvera employees
- Domestic financing 3.2 billion loans can be as small as €10,000

Evidence of success

- Finnvera is State-owned and is, as required, profitable from its own activities.
- Credit ratings: Fitch AA+; Moody's Aa1
- Overseas 3.2 billion € domestic financing; 21.5 billion € export guarantee and special guarantee activities
- Serves 26,319 customers
- SME and midcap export credit guarantees and export guarantees: EUR 21,971 million (EUR 22,408 million)
- CEO Pauli Heikkilä, 2021 ½ year report: “The financing system has worked well in Finland throughout the crisis.”

Potential for learning or transfer

Other countries could run similar programs. On the federal level, such a program helps to stabilize the national economy by making it easier for craft SMEs and other businesses to borrow funds for working capital. In Finland, the default rates have not been high and the program is successful overall. The success of a similar program would probably also need a high rate of loan repayment.

This kind of program is especially helpful for small craft businesses which may operate with small margins and very limited capital. It can make the difference between qualifying for a loan and being able to continue operations or not. Loans can be as small as EUR 10,000, making it a viable option for many SMEs.

Further information

Website

Website

Good practice owner

Organisation

Finnvera

Finland
Helsinki-Uusimaa
Contact
Thu Vo
International Project Officer
See phone number Sign up to contact

Send an email

Thu Vo

+358207663306
About text formats
You can upload up to 3 files with a storage duration limit of 2 weeks (from email reception date). Supported format: .pdf, .doc. docx. xls .xlsx . odt .ods . jpg .png. Maximum size : 10mo.

Send an email

Your mail has been sent !

This window will automatically close in 5s...

Close
Summary

    Share

    Finnvera working capital business loans and loan guarantees available to SMEs https://www.interregeurope.eu/good-practices/finnvera-working-capital-business-loans-and-loan-guarantees-available-to-smes
    Facebook Twitter Linkedin

    Similar good practices

    See all good practices
    Image
    2014 - 2020

    Braga, UNESCO Creative City for Media Arts

    Braga Media Arts, part of a wider global network of cities that put creativity and innovation at the heart of their social, cultural and economic development.
    09 Mar 2022 | By project RegionArts
    Expert approved
    Image
    2014 - 2020

    Support for tourism events innovation with small-scale grants

    A form of micro-financing developed to complement tourist programs and enliven tourist season in the destination with events and activities.
    03 Mar 2022 | By project RuralGrowth
    Expert approved
    Image
    2014 - 2020

    Tourist programming in the destination during the seasons (weekly activities program)

    Promotion based on a weekly programme of activities in tourism destination was implemented In order to promote tourism and covid-19-safe activities and products
    03 Mar 2022 | By project RuralGrowth
    Expert approved
    Image
    2014 - 2020

    Support for implementing COVID-19 safety standards in the enterprises and events

    Organizing support for SMEs for implementing health regulations and for communication to the customers about safe tourism.
    03 Mar 2022 | By project RuralGrowth
    Expert approved
    Image
    2014 - 2020

    Patio blanket and electric pillows

    The province of Drenthe has supported the catering industry by handing out fleece blankets and electrically heated chair cushions.
    09 Feb 2022 | By project RuralGrowth
    Expert approved
    Image
    Good practice - Smart
    2014 - 2020

    Starttiraha income support for aspiring entrepreneurs

    Starttiraha provides an entrepreneur a secure income for up to 12 months while getting a business up and running.
    08 Feb 2022 | By project CRAFTS CODE
    Expert approved
    Image
    Good practice - Smart
    2014 - 2020

    Finnvera working capital business loans and loan guarantees available to SMEs

    Finnvera makes it easier for companies including craft SMEs to qualify for bank loans of working capital by providing loan guarantee protection.
    08 Feb 2022 | By project CRAFTS CODE
    Expert approved
    Image
    2014 - 2020

    Digital Marketing and Business Digitalization Programme

    This professional training programme has been created to provide skills for micro and small businesses undergoing digital transformation.
    03 Jan 2022 | By project SKILLS+
    Expert approved

    Contact us

    • Our team
    • Points of contact
    • Jobs & tenders
    • Contact form

    Help

    • FAQ
    • COVID-19

    Key links

    • List of operations
    • List of calls
    • L'Europe s'engage
    • European Commission

    Join the community

    • Meet new people and find partners
    • Join our events: in person and online
    • Get a personalised content
    • Exchange good practices

    Join the community

    Home

    Footer

    • Legal
    • Cookies
    • Help
    • Accessibility
    • Privacy Policy