For whom is start-up loan designed?
The start-up loan with KredEx guarantee is suitable for starting enterprises and those having operated for up to three years for financing of investments and operating capital.
The start-up loan helps if there are difficulties in starting a company due to a lack of start-up capital, and there are no sufficient guarantees for bank loans or operational history.
Unlike a conventional bank loan, fewer guarantees are required from an entrepreneur in the event of a start-up loan. Generally, the personal surety of the physical owners of the loan recipient is sufficient to guarantee the loan. The personal liability of the surety provider is 40% of the loan amount, if the loan is used for the intended purpose.
What are the main requirements to an applicant?
How to apply for the start-up loan?
To apply for the start-up loan, one must contact a bank that shall submit a loan guarantee application to KredEx. If information necessary for making the decision exists, KredEx generally makes a guarantee decision for the start-up loan within two weeks. In the event of a positive decision by the bank and KredEx, the bank shall issue the start-up loan.
Free consultation for preparing a business plan necessary for applying for the start-up loan can be obtained from Enterprise Estonia’s county development centres.
The start-up and micro loan guarantee programme is financed from the European Social Fund in years 2008 to 2015.
In matters regarding start-up loan, please contact our client managers: