Industry loan


A KredEx Industry Loan can be used to provide co-financing for investments in tangible and intangible fixed assets together with a bank or leasing company.

The Target Group is small and medium-sized enterprises (SMEs) in the manufacturing, mining, electricity generation, transmission and distribution, and waste treatment and disposal sectors.

NB! An Industry Loan can only be used to finance those projects that have not been fully implemented by the time the financing decision is taken.


  • The Industry Loan is a subordinated loan, which helps to increase the project’s self-financing for the credit institution
  • For the company, self-financing is lower than usual and, in some cases, is even unnecessary

For who?

Ettevõtte rahastamiseks

starting enterprise
established company
exporting company

Service is suitable if

  • the company is sustainable and solvent and
  • equity capital meets the requirements set forth in the Commercial Code and
  • the company’s equity capital and self-financing combined comprise at least 50% of the amount of the Industry Loan being sought and
  • the company is entered into the Republic of Estonia’s Commercial Register and does not have arrears for which no payment schedule has been arranged and
  • the company’s management board members are trustworthy and competent.

Important conditions

Loans will not be granted to the following activities and undertakings
  • Primary production of agricultural products, fishing and aquaculture and forest management
  • Manufacture, processing and marketing of tobacco (and related products)
  • Manufacturing, processing and marketing of weapons and ammunition
  • Acquisition of vehicles and equipment for road freight transport
  • Real estate development projects for the purpose of sale and leasing out. If real estate development takes place for the purpose of activities unrelated to the company’s own real estate development, including that of subsidiaries and affiliates, it is permitted to let out part of the premises, provided that the rental receipts, other than from subsidiaries and affiliates, does not exceed 30% of the loan applicant’s annual turnover.
  • Export-related activities that are directly related to quantities to be exported, establishing and operating a distribution network or other current costs stemming from exporting, if the issuing of the guarantee provides de minimis aid
  • The company’s direct or indirect owners include companies registered in tax havens.
  • Decommissioning or establishing nuclear power plants
  • Investments for reducing greenhouse gas emissions, which are generated in the fields listed in Annex I of directive 2003/87/EC
  • The objective of financing is the use of domestic products instead of import products
  • Fields related to pornography, gambling, unlawful download of data and enabling unlawful access to data networks.
Loan amount

Up to EUR 2 million; however, not more than 40% of the project cost

Loan interest

In general, if KredEx finances

  • up to 20% of the cost of the project, interest is equal to the interest rate of the credit institution
  • 20,01–30% of the cost of the project, interest is equal to the interest rate of the credit institution +1 percentage point
  • 30,01–40% of the cost of the project, interest is equal to the interest rate of the credit institution +2 percentage points
Contract fees
  • There is no fee for the conclusion and early termination of the contract
  • The contract amendment fee is 0.2% of the loan balance
Loan guarantee

A separate guarantee is usually not required for an Industry Loan, or a mortgage or commercial pledge is established as a last resort

Repayment of the loan
  • Until the expiry of the loan agreement concluded with the credit institution, the principal instalments of the Industry Loan are subject to a grace period and only interest is payable
  • After the expiry of the loan agreement with the credit institution, the Industry Loan will be repaid in equal instalments according to the following schedule
Recommended financial indicators of the loan recipient
  • equity capital accounts for at least 10% of the balance sheet
  • the liquidity coefficient is at least 0.8
  • according to a conservative estimate, the loan service coefficient is at least 1.1

Good to know

  • You can find more information about the crisis measures intended to alleviate liqiuidity difficulties caused by the COVID-19 outbreak ON THIS PAGE
  • KredEx processes loan applications that have received a positive financing decision from a credit or financing institution.
  • Find out more about Enterprise Estonia’s services for businesses here

Application process

​​​The first step for applying for an industry loan is to contact a bank or leasing company to obtain a decision on issue of the loan or leasing.

If the decision from the bank or leasing company is positive, complete the application form for an industrial loan application (you can enter the e-services environment with your ID card or Mobile-ID), attaching the following documents:

  • financial forecasts on the KredEx form
  • business plan, including the investment project plan
  • decision of the competent body of the credit or financing institution on the issuing of a loan or lease
  • (audited) annual report for the last financial year
  • an interim report for the current financial year, which is no more than two months old at the time of submission of the application
  • CVs of the company’s key personnel.

Contact us

Natalja Pauku

Natalja Pauku

Client Manager

natalja.pauku [at]
Jaak Tikko

Jaak Tikko

Client Manager

jaak.tikko [at]
Tiina Kalme

Tiina Kalme

Client Manager

tiina.kalme [at]
Argo Suurkask

Argo Suurkask

Client Manager

argo.suurkask [at]
Karmen Piip

Karmen Piip

Junior Client Manager

karmen.piip [at]