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The European Investment Fund (EIF) and Danish corporate bank kompasbank have joined forces to provide at least €175 million in new loans to Danish small and medium-sized enterprises (SMEs). Through a series of guarantee agreements, kompasbank will be able to offer SMEs improved lending terms, such as lower interest rates and longer repayment periods.
“Access to finance for SMEs continues to be an issue around the Nordics.”
Said EIF Chief Executive Marjut Falkstedt.
“Danish businesses play a leading role in the green transition and we’re happy to build on our partnership with kompasbank to support the availability of targeted financing for small companies – especially when it comes to supporting skills and financing climate change mitigation.”
“We often find that Danish SMEs have to drop specific growth initiatives or are forced to lower their ambitions because they do not have sufficient and fast enough access to financing. It is bad for companies’ competitiveness – but also for the economy and job creation – because it costs money when good and sound investment cases are put on standby,”
says Michael Hurup Andersen, Founder & CEO of kompasbank a/s and continues:
“We are pleased that, with the new EIF agreement, we can help hundreds of more SMEs to quickly and frictionlessly realize their growth ambitions while supporting the green transition and contributing to more investments in education and skills.”
This partnership is supported by the InvestEU program, which aims to mobilize over €372 billion in investments across Europe. The EIF guarantees will enable kompasbank to lend to riskier businesses, including startups.
The agreement includes three specific focus areas:
By improving access to finance, this partnership aims to strengthen the competitiveness of Danish businesses and foster economic growth.
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