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Overdraft

Accelerate your business with flexible credit limit

  • Overdraft helps balancing the company’s working capital needs.
  • Possibility to get financing against surety.
  • We are here to help you if you have any questions.
  • EIF Guarantee aims to enhance access to finance.

What is it for?

  • Suitable for balancing uneven cash flows caused by payment deadlines, daily expenses and for one-off purchases.
  • Possibility to use and repay at any time within the limit.
  • Incoming turnover will cover the used limit and will reduce interest expenses.

Main conditions

  • Limit from €10,000 up to 50% of the company’s average monthly net turnover of the last six months.
  • Term up to 12 months.
  • Average annual interest rate for loans against surety 9%, with collateral 4,5% + Euribor.
  • A fixed percentage commitment fee of 2% a year applies for the unused part of the limit.
  • Interest and commitment fee will be debited from the current account on the agreed payment date.

Possible collaterals

  • If a loan limit is up to €20,000 and turnover is deemed sufficient, security is guaranteed by EIF.
  • EIS or the Rural Development Foundation (MES).
  • Owner’s or board member’s surety.
  • Mortgage on real estate property, commercial pledge or agricultural land.
  1. Fill out the application on the Internet Bank. We will contact you within two business days.
  2. Sign the overdraft agreement digitally.
  3. After signing the agreement and, if necessary, registering the collateral, the credit limit is made available in your company’s account.
We can request the last annual financial report if it has not been submitted to the Commercial Register.
The balance sheet and income statement submitted may not be older than 12 months.
If property collateral is needed, we will require a valuation report by a real estate agency accepted by the bank.

View the financing eligibility of your business

The financing eligibility of your business is based on its latest annual report. Responsible corporate behaviour creates easier and more favourable access to funding.

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What´s next?

  1. Log in to the Internet Bank.
  2. View your financing eligibility level.
  3. Identify your strengths and weaknesses.
  4. If you do not see the financing eligibility level of your business or if you have any questions, please book an appointment for a personal consultation.

Legal persons

Effective as of 01.10.2020
Investment loan, working capital loan
Application of investment loan, working capital loan 1% of the loan amount, but no less than 200 €
Amendment of the agreement 1% of the loan/limit amount, but no less than 200 €
Early loan repayment fee 1,5% of the amount repaid early
Overdraft, revolving credit line
Application 1% of the limit amount, but no less than 200 €
Amendment of the agreement 1% of the loan amount, but no less than 200 €
Obligation fee 2% of the unused credit limit
Apartment association loan
Application 1% of the loan amount, but no less than 200 €
Amendment of the agreement 1% of the loan/limit amount, but no less than 200 €
Early loan repayment fee 1,5% of the amount repaid early

Contracts entered into between the European Investment Fund (EIF) and Swedbank enable us to provide loans and leasing services to micro, small and medium-sized enterprises in Estonia, Latvia, and Lithuania. The Guarantee is provided with the ultimate purpose of enhancing access to finance in line with defined policy objectives.

InvestEU SME Guarantee

Guarantee program for medium-sized enterprises “InvestEU SME Guarantee”

The objective of this program is to increase access to finance for SME-enterprises by offering additional guarantee from the EIF.

Conditions for using the InvestEU SME guarantee:

  • Fixed assets and working capital are financed.
  • The maximum amount to be financed is up to EUR 2,000,000.
  • The company has up to 250 employees.
  • The annual turnover is up to 50 million EUR, or the balance sheet total is up to 43 million EUR.
  • The guarantee is free of charge.

To get the EIF-supported financing, ask your contact person in the bank or fill in an application.

InvestEU Micro Guarantee

Guarantee program for micro-enterprises “InvestEU Micro Guarantee”

The objective of this program is to increase access to finance for micro-enterprises by offering additional guarantee from the EIF.

Conditions for using the InvestEU Micro Guarantee:

  • Fixed assets and working capital are financed.
  • The maximum amount to be financed is up to EUR 50,000.
  • The company has up to 9 employees.
  • The annual turnover is up to 2 million EUR, or the balance sheet total is up to 2 million EUR.
  • The guarantee is free of charge.

To get the EIF-supported financing, fill in an application.

The supported financing benefits from the support from the European Union under the InvestEU Fund. The InvestEU Fund is designed to support policy objectives of the European Union by means of operations that contribute to (i) the competitiveness of the European Union; (ii) growth and employment in the European Union economy, the sustainability of the European Union economy and its environmental and climate dimension; (iii) social resilience; (iv) the promotion of scientific and technological advances, of culture, education and training; (v) the integration of the European Union capital markets and the strengthening of the internal market; (vi) the promotion of economic, social and territorial cohesion; or (vii) the sustainable and inclusive recovery of the European Union economy after the crisis caused by the Covid-19 pandemic.

Additional information can be found on the information page provided by the European Commission.

European Investment Fund

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