The minimum credit period in counter-cyclical financing shortened

The minimum credit period in counter-cyclical financing is now three years.

The credit period for new loans can be 3–6 years instead of the previous 5–6 years. For loans based on the Employees Pensions Act, the credit period can be 3–10 years. The credit period may include 1–3 years of grace, instead of the previous 2–3 years.

“This change will make it easier for companies to obtain financing for investments and working capital. There will also be more cooperation with other financiers in shorter-term financing,” says Executive Vice President Veijo Ojala.

Finnvera has provided counter-cyclical financing since spring 2009. Last year over 500 enterprises received counter-cyclical financing; the total sum was EUR 188 million.