Blog post -
Your Finnish company would need 100k€ for 1-2 years, but how ?
Funding possibilities for internationalization
You need 100k€ for 1-2 years, but how ?
1. Apply Business Finland Kiito or Tempo funding
- For 100k€ project
- 50k€ Grant (de minimis)
- Collateral : no need, grant
- https://www.businessfinland.fi/en/for-finnish-customers/services/funding/sme/kiito/
2. Apply Finnvera bridge to be able to spend that Grant (which is paid against receipts)
- Maximum loan is around 70% of the Grant (35k€)
- Typical collateral : personal guarantee
- https://www.finnvera.fi/eng/products/loans/bridge-financing-for-the-period-preceding-the-payment-of-grants
Now, you are still missing 50-65k€ euros
3. Apply a loan from markets. See Scenarios below
Scenario 1
Apply Fundu funding. Typically the funding is in your account in 2-4 weeks.
- Annual interest is typically around 10%
- Costs around 4%
- Collateral : Personal guarantee
- https://www.fundu.fi
Scenario 2
Apply EIR guaranteed loan in Osuuspankki or Nordea
- Guarantee 50% of the loan
- Loan interest : few %
- Collateral : needed for the final 50%
- https://uusi.op.fi/yritykset/rahoitus/investoinnit/riskinjakotakaus
- https://www.nordea.fi/yritysasiakkaat/rahoitus/investoinnit/eurolaina.html#tab=SME-Initiative-Finland--takaus-PK-yrityksille
Scenario 3
Apply Finnvera loan
- Interest rate : few %
- Collateral : needed
- https://www.finnvera.fi/tuotteet/lainat/finnvera-laina
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