With the support of the Start-Up Loan of KredEx, starting enterprises invested 1.54 million euros

Last year, KredEx provided guarantees of 1.15 million Euros to the Start-Up Loan of 68 enterprises. The support of KredEx made it possible for the starting enterprises to obtain financing from banks in total amount of 1.54 million euros. 

“The Start-Up Loan has helped tens of entrepreneurs to enter the market with their services and products. According to surveys, one of the main problems in starting entrepreneurship is finding initial capital. Mostly, ordinary bank loan does not suit, as the loan provider considers risks connected with the foundation of an enterprise too great, and also, starting entrepreneurs generally lack guarantees to obtain a bank loan. In such a situation the loan guarantee of KredEx is of help, managing the risks of a bank and making it possible for a starting entrepreneur to obtain a loan,” said Lehar Kütt, head of the Enterprise Division of KredEx.

As a result of supported projects, starting companies are planning to create an estimated number of 230 new jobs.

A selection of projects financed with the Start-Up Loan in 2011:

Alfred & Partners OÜ – develops, produces and sells state-of-the-art speakers of brand “Estelon”. With the help of the Start-Up Loan the enterprise invested into fixed assets.

Loote Ultraheliskriining OÜ - Loote Ultrahelikeskus (Fetal Ultrasound Centre) offers high-quality private ultrasound service based on state-of-the-art technology in cosy atmosphere, according to internationally established standards. With the help of the Start-Up Loan the enterprise acquired business premises and invested into fixed assets.

Moe Saetööstus OÜ –produces lumber. With the help of the Start-Up Loan the enterprise acquired production equipment to expand the selection of offered services.

Nordtenwest OÜ -  produces small fiber-glass plastic and metal ships. With the help of the Start-Up Loan the enterprise acquired production equipment to expand the selection of offered products.

Rahvusdisain OÜ – produces children’s furniture, decorative pillows and bean bag chairs with national patterns of brand Rahvusmööbel. A series of children’s furniture LOTTE was launched with the help of the Start-Up Loan.

Uus Luud OÜ – offers soda cleaning technology meant for cleaning sensitive surfaces. With the help of the Start-Up Loan the enterprise invested into fixed assets.

The start-up loan is meant for small and medium-sized starting enterprises and those having operated for up to 3 years, as well as for financing of investments and operating capital of self-employed entrepreneurs. It is possible to apply for the Start-Up Loan with KredEx guarantee in the amount of up to 64,000 euros.

Start-up loan is issued by Swedbank, Nordea Bank, SEB Bank, Krediidipank and Marfin Bank. In years 2008 – 2013 the programme of guarantees for Start-up and Micro Loan is financed from the Social Fund of the European Union in the amount of 6 million euros.