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The aid is directed at undertakings whose difficulties are caused by the coronavirus crisis.

The enterprise has acted correctly in their activities before the crisis, there are no non-deferred tax arrears, the activity has been either stable or directed towards growth, the enterprise is sustainable, and is capable of performing their obligations in the future.

Application takes place through banks

Firstly, contact your bank and ask for a new loan or relaxation of the repayment schedule for an existing loan. Banks are ready to offer grace periods to enterprises affected by the crisis.

Application process and solutions

Think through a plan on how to bring your company out of difficulties

It does not have to be thorough. It is important that you have thought through all the possible solutions.
The KredEx measures are intended for overcoming temporary liquidity difficulties.

Contact your bank

Ask for a new loan or relaxation of the repayment schedule for an existing loan.
Banks are ready to offer grace periods to enterprises affected by the crisis.

Solution by the bank

The bank independently finds a solution that is suitable for you

The bank involves KredEx

Should it become necessary, the bank will involve KredEx

No suitable solution is reached with the bank

In this case, contact KredEx for applying for the loan

What is a guarantee and how does it work?

1

The undertaking

The undertaking applies for a loan or lease from the bank

At that, the undertaking:

  • has a strong project
  • requires capital
  • lacks sufficient collateral for receiving a loan

2

The bank

The bank considers the undertaking’s project too risky.

To mitigate the risks, the bank can:

  • If the project is suitable, add the KredEx guarantee independently on the basis of a power of attorney
  • Involve KredEx in the decision-making process

3

KredEx

KredEx processes the guarantee application

  • KredEx evaluates the undertaking’s business plan
  • Makes a decision on granting the guarantee

4

The bank

If KredEx makes a positive decision on
the guarantee, the bank will grant
the loan to the undertaking

5

The undertaking

The undertaking pays a one-time contract fee to KredEx, and guarantee fee thereafter

  • The undertaking puts the business plan into action with the funding raised
  • They remain sustainable and perform any current obligations
Graph background
  • 1. The undertaking

  • 2. The bank

  • 3.

  • 4. The bank

  • 5. The undertaking

KredEx uses the COSME COVID-19 co-guarantee

Read more

Also see other KredEx services
aimed at undertakings

See more

If you have any questions about the crisis measures, call 667 4141 or send an e-mail to kriisiabi@kredex.ee.

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