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New loans from Finnvera speed up green transition and digitalization
At the start of June, Finnvera launched a new Climate and Environment Loan for businesses, along with a Digitalization and Innovation Loan.
Finnvera, the state-owned specialist finance company and Finland’s export agency, is channelling €280 million into Finnish SMEs’ investments in the green transition, innovations and digitalization. This is made possible by a €170 guarantee from the European Investment Fund (EIF) to Finnvera. The partnership is part of the InvestEU programme.
The Climate and Environmental Loan and the Digitalization and Innovation Loan are aimed at tackling climate change and accelerating the green transition, digitalization and the energy transformation.
The new loan products will in particular enable SMEs’ investments in the transition to a greener, more digital future, Finnvera said in a press release.
The 60% guarantee from the EIF ensures that Finnvera does not need to require additional collateral from SMEs or small midcap companies for either loan.
“New growth and export potential is increasingly linked to the energy transformation and the green transition. Digitalization is the key to developing and transforming business. We encourage businesses to seize the new commercial opportunities in these sectors. With our new loans, we lower the threshold for businesses to accelerate investments,” Finnvera’s Executive Vice President for SMEs Juuso Heinilä says.
“With our new loans, we lower the threshold for businesses to invest and pursue faster growth. In particular, it’s important for new innovative solutions to get to market in time,” Heinilä says.
New loans from Finnvera
The Climate and Environmental Loan is intended for investments by Finnish businesses in the green and sustainable transition. It is a good option for businesses which are advancing the use of renewable energy sources, energy efficiency, the use of environmentally sustainable materials, the transition to the circular economy or the low-emission economy.
The Digitalization and Innovation Loan is intended for innovation and digitalization fuelled businesses. It supports their investments and increased competitiveness. The loan is a good option for businesses whose need for finance is in areas such as product, process or service development, other intellectual property investments, digitalization of business models, digital management of supply chains, or development of digital business.
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