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  • Sihtasutus KredEx - 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 Not more than three years have passed from registration of the entrepreneur in the commercial register The equity of the entrepreneur meets the requirements established in the Commercial Code The owners of the entrepreneur are only natural persons and or companies according to the Commercial Code The entrepreneur its owners and board members have no overdue un staggered credits The entrepreneur is sustainable and soluble and its business plan is feasible Necessary documents and additional material Documents Application form of start up loan to be filled by the customer account manager at the bank Additional material General terms of start up loan 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

    Original URL path: http://www.kredex.ee/enterprise/laen-ja-kaendus/stardilaen/ (2013-12-14)
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  • Sihtasutus KredEx - Business loan guarantee
    loan guarantee Technology loan Subordinated loan Export loan Credit insurance Credit insurance of short term transactions Supplier credit insurance Buyer s credit insurance Investment insurance Production risk insurance Venture Capital Baltic Innovation Fund Business loan guarantee A business loan guarantee is designed for a company requiring financing of its operations by a bank or leasing For whom is loan guarantee designed A business loan guarantee is designed for a company requiring financing of its operations by a bank or leasing Loan guarantee helps if a company wishes to use a bank loan leasing or bank guarantee but lacks sufficient guarantees or operating history What are the main requirements to an applicant The entrepreneur is creditworthy The equity of the entrepreneur meets the requirements established in the Commercial Code The entrepreneur has no overdue un staggered credits Necessary documents and additional material Documents Application form of loan guarantee to be filled by the customer account manager at the bank Additional material General terms of loan guarantee How to apply for the loan guarantee In order to use loan guarantee one should contact a bank or leasing company They will submit a relevant guarantee application to KredEx Depending on the guarantee amount and complexity of the project the guarantee decision takes up to four weeks NB The services offered by KredEx may include state aid including de minimis aid Loan guarantees issued under the state guarantees of enterprise loans and the equity loan programme are financed from the European Regional Development Fund for the period 2008 2015 Loans and leases issued by banks and leasing companies are guaranteed by KredEx partially in cooperation with the European Investment Fund with the support of the Competitiveness and Innovation Framework Programme of the European Union Contact In matters regarding business loan guarantee please contact our

    Original URL path: http://www.kredex.ee/enterprise/laen-ja-kaendus/laenukaendus/ (2013-12-14)
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  • Sihtasutus KredEx - Technology loan
    a bank loan or leasing is used for an investment but the entrepreneur lacks the required capital for self financing Similarly to the owner of the enterprise KredEx gives capital as a subordinated debt to the disposal of an entrepreneur which in the eyes of other financers increases the self financing of the enterprise That makes it possible to receive additional leasing or bank loan an thus helps the company to grow quicker KredEx does not interfere in the management of the enterprise having received a loan What are the main requirements to an applicant the company has been registered in the commercial register of the Republic of Estonia the company has no overdue unpostponed debts the company is sustainable and solvent the equity capital of the company meets the requirements of the commercial code members of the board and owners of the company are reliable and competent the equity capital of the company and self financing total at least 50 of the amount of the subordinated loan applied for Necessary documents and additional material Documents Application form of technology loan to be filled by the customer account manager at the bank Table of financial forecasts Additional material General terms of technology loan How to apply for the technology loan To apply for the technology loan firstly it is necessary to contact a bank or leasing company to obtain a decision regarding the issuing of a bank loan or leasing In the event of a positive decision of the bank or leasing company an application for the Technology Loan shall be completed enclosing financial forecasts on the form of KredEx business plan including the investment project plan a decision of a credit or financing institution s competent authority regarding the issuing of loan or leasing report of the most recent

    Original URL path: http://www.kredex.ee/enterprise/laen-ja-kaendus/technology-loan/ (2013-12-14)
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  • Sihtasutus KredEx - Subordinated loan
    For whom is subordinated loan designed Subordinated loan is designed for an enterprise having proved the functioning of the business model and planning investment into development Subordinated loan helps if the quick growth of a company needs to be financed with loan capital but the level of self financing is too low to obtain a bank loan or the guarantees are insufficient Similarly to the owner KredEx gives capital to the disposal of an entrepreneur which in the eyes of other financers due to subordination increases the self financing of the company This in turn makes it possible to include additional financing for instance in the form of a bank loan What are the main requirements to an applicant the enterprise has been entered in the commercial register of the Republic of Estonia the enterprise has no postponed payment debts the enterprise is sustainable and solvent the enterprise s equity capital meets the requirements of the Commercial Code the members of the management board and the owners are trustworthy competent and with high reputation Necessary documents and additional material Documents Application form of subordinated loan Table of financial forecasts Additional material General terms of subordinated loan How to apply for subordinated loan To apply for subordinated loan an application shall be filled out and the following documents enclosed financial forecasts on the form of KredEx business plan report of the most recent financial year balance sheet and income statement of the current financial year provided that no more than two months have passed from the end of the reporting period at the moment of submission of the application CVs of the key persons of the company If in addition to subordinated loan a company also wishes to take bank loan it is recommended to contact the bank and KredEx simultaneously

    Original URL path: http://www.kredex.ee/enterprise/laen-ja-kaendus/allutatud-laen/ (2013-12-14)
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  • Sihtasutus KredEx - Export loan
    E service Loan and guarantee Credit insurance Venture capital Grant Enterprise Apartment association Private person Energy efficiency KredEx Contacts Loan and guarantee Start up loan Business loan guarantee Technology loan Subordinated loan Export loan Credit insurance Credit insurance of short term transactions Supplier credit insurance Buyer s credit insurance Investment insurance Production risk insurance Venture Capital Baltic Innovation Fund Export loan The export loan is meant for companies wishing to finance large scale export transactions of goods manufactured in Estonia For whom is the export loan suitable The export loan is meant for companies wishing to finance large scale export transactions of goods manufactured in Estonia The export loan helps if a company wishes to offer a long payment term to a foreign buyer pay a credit insurance premium or finance the production of goods to be sold to a foreign buyer A prerequisite for issuing the loan is insurance of credit and political risk related to the foreign buyer at KredEx Krediidikindlustus How to apply for the export loan To apply for the export loan an application should be filled out and the following documents enclosed Financial forecasts An overview of the company and a description of the transaction Audited annual report for the previous financial year and the most recent interim report of the current year The export loan issued under the subordinated loan programme is financed by the European Regional Development Fund in 2014 2015 What are the main requirements for an applicant The company has been registered in the Commercial Register of the Republic of Estonia The company has no overdue unpostponed debts The company is sustainable and solvent The equity capital of the company meets the requirements of the commercial code Members of the board and owners of the company are reliable and competent The

    Original URL path: http://www.kredex.ee/enterprise/laen-ja-kaendus/ekspordilaen-eng-2/ (2013-12-14)
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  • Sihtasutus KredEx - Credit insurance of short-term transactions
    insurance Production risk insurance Venture Capital Baltic Innovation Fund Short term trade credit insurance Short term credit insurance is suitable for companies selling goods or services with payment periods up to 360 days and protects against possible payment difficulties of Your buyers For whom is credit insurance of short term transactions suitable Short term credit insurance is suitable for companies selling goods or services with payment periods up to 360 days and protects against possible payment difficulties of Your buyers Short term credit insurance is designed for companies wishing to protect themselves against possible payment difficulties of their buyers The service is suitable for companies selling goods services or raw materials with short payment terms The policy can cover the entire turnover or sales to agreed upon export destinations What are the most important terms Policy holder Companies registered in Estonia Insured risk buyer s insolvency due to a commercial or political risk Buyers legal entities Buyer s country of location not restricted including Estonia Payment term provided to buyers up to 360 days Insurance cover generally 85 Costs insurance premium and buyers evaluation fee Additional options coverage available for foreign affiliates or for a production period possible to combine with financing from banks Necessary documents and additional material General conditions Insurance contract application form Credit limit application form Credit limit application form several buyers Turnover declaration form Notification of non payment Indemnity application form How to apply for the insurance In order to receive an offer please fill out an application and send it to one of our client managers A suitable offer will be the basis of Your insurance contract After we have reached an agreement on the general contract it is necessary to apply for credit limits for one s buyers We will analyse the credit worthiness

    Original URL path: http://www.kredex.ee/enterprise/krediidikindlustus/luhiajaliste-tehingute-krediidikindlustus/ (2013-12-14)
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  • Sihtasutus KredEx - Supplier credit insurance
    E service Loan and guarantee Credit insurance Venture capital Grant Enterprise Apartment association Private person Energy efficiency KredEx Contacts Loan and guarantee Start up loan Business loan guarantee Technology loan Subordinated loan Export loan Credit insurance Credit insurance of short term transactions Supplier credit insurance Buyer s credit insurance Investment insurance Production risk insurance Venture Capital Baltic Innovation Fund Supplier credit insurance Supplier credit insurance is suitable for exporters of capital and durable goods who would like to provide longer payment term to buyers Insurance would cover possible payment difficulties of buyers For whom is supplier credit insurance suitable Supplier credit insurance is suitable for exporters of capital and durable goods who would like to provide longer payment term to their buyers Insurance would cover possible payment difficulties of buyers Supplier credit insurance cover applies for credit period exceeding two years and is regulated by an agreement between OECD countries regarding the offering of state export guarantees What are the most important terms Policy holder Estonian exporter Insured risk insolvency of buyer due to a commercial or political risk Buyer s country of location not restricted excludesEstonia The service is related to a particular buyer and export transaction Insurance cover generally 85 Maximum credit period generally up to 10 years up to 5 years for OECD countries Required prepayment from a buyer at least 15 of the cost of the transaction Repayment schedule equal instalments after every 6 months Necessary documents and additional material Supplier credit insurance application form How to apply for the insurance To apply an application form shall be filled out and sent to us before the delivery of the goods We will review the credit capability of the buyer and when acceptable insurance cover is provided Additional information Terms of credit insurance Contact In matters regarding

    Original URL path: http://www.kredex.ee/enterprise/krediidikindlustus/tarnijakrediidi-kindlustus/ (2013-12-14)
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  • Sihtasutus KredEx - Buyer’s credit insurance
    Loan and guarantee Start up loan Business loan guarantee Technology loan Subordinated loan Export loan Credit insurance Credit insurance of short term transactions Supplier credit insurance Buyer s credit insurance Investment insurance Production risk insurance Venture Capital Baltic Innovation Fund Buyer s credit insurance Buyer s credit insurance is suitable for a financing institution wishing to insure itself against possible payment difficulties of a buyer For whom is buyer s credit insurance suitable When a foreign buyer borrows from a bank to pay for the exported goods that bank may require insurance cover against insolvency of the buyer Such buyer s credit insurance often lowers financing costs and enables exporters to provide their trade partners with an attractive financing option A variation of the above is financing insurance where the payments of a foreign buyer are guaranteed with a letter of credit or another bank instrument Buyers credit and financing insurance cover applies for credit period exceeding two years and is regulated by an agreement between OECD countries regarding the offering of state export guarantees What are the most important terms Policy holder a financing institution financing an Estonian export transaction Insured risk insolvency of buyer due to a commercial or political risk Buyer a legal person Buyer s country of location generally not restricted excludes Estonia The service is related to a particular buyer and export transaction Insurance cover generally 90 Payment term provided to buyers at least 2 years up to 5 years for buyers in OECD countries Prepayment of a buyer at least 15 of the cost of the transaction Loan repayments must be in equal instalments every 6 months for insurance of credits exceeding two years Necessary documents and additional material Buyer s credit insurance application form How to apply for the insurance Please fill out

    Original URL path: http://www.kredex.ee/enterprise/krediidikindlustus/ostjakrediidi-kindlustus/ (2013-12-14)
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