New guarantee for working capital financing for large companies and their suppliers
To meet new financing needs caused by the Covid-19 pandemic, EKN has launched a guarantee for large companies’ working capital financing and their supply-chain financing.
EKN’s new guarantee, called the Individual Credit Guarantee, also offers a higher guarantee cover for financing relating to payments to suppliers. An Individual Credit Guarantee covers 75 per cent of the bank’s loan to the company and can be used by exporting companies with more than SEK 500 million in sales. For financing related to payments to suppliers the guarantee cover is higher, 80 per cent.
Companies can apply for an Individual Credit Guarantee limit offer. This limit can then be called on by a designated lender submitting an application. The company must complete and submit a supplementary form as an appendix to the application. It is also possible for the lender to apply directly, without the company first applying for a limit.