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?
In order to apply for the start-up loan it is necessary to contact a bank that will forward the application to KredEx. Having received all the information necessary for decision-making, KredEx issues a decision generally within two weeks. The bank issues the start-up loan based on the positive decision of the bank and KredEx.
Free consultations regarding the preparation of a business plan necessary to apply for the start-up loan are offered by Enterprise Estonia’s county development centres.
More detailed information is available from KredEx or banks.
The start-up and micro loan guarantee programme is financed from the European Social Fund for the period 2008–2015.
Please read the start-up loan terms and consult our customer account managers if necessary.