Since 2001 companies have invested more than 2 billion kroons into their business activity by KredEx loan guarantee. During the first seven months of 2006, Estonian small and medium sized companies have taken 365 million kroons of additional loan from banks with the help of KredEx loan guarantee.
As of the end of July of the current year, 192 business loan guarantee applications have been submitted to KredEx, out of which 138 are new sales and 54 the changes of previous guarantee contracts. Out of the submitted applications 125 loan guarantees have merited a positive decision by today. Companies use the guarantee of KredEx to the greatest extent to obtain investment loan from bank, making up over 60% of all loan guarantees. The guarantee of bank overdrafts and circulation loans follow investment loans in equal shares.
According to business prognoses there is a plan to create 720 additional jobs by the loans for which guarantee was provided within seven months of year 2006. During its total period of operation, the loan guarantee of KredEx has helped Estonian companies create over 3700 new jobs. KredEx has continually guaranteed most loans for small enterprises with up to 10 employees, making up 60% of all the issued loan guarantees. Regionally, the most active loan guarantee applicants are still companies from Tallinn and Harjumaa, having taken about 70% of all the loans for which guarantee was provided.
According to fields of activity, guarantee for loans related to business activity has been provided most, out of which the biggest share belongs to timber and metal industry, followed by food industry and wholesale and retail trade. The target group of KredEx business loan guarantee includes all the fields of activity, except agriculture, fishery, forestry and public sector, also real estate development is not supported.