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During the first four months of year 2010, the volume of loan guarantees issued to companies by KredEx was 334 million kroons, which made it possible for 128 companies to include financing from banks in the total amount of 546 million kroons. Compared to the same period of year 2009, the amount of issued guarantees increased by 219%. According to Lehar Kütt, manager of Enterprise and Export Division of KredEx, there is still a greater demand for KredEx guarantees than usually. „From autumn 2009, the readiness of some banks to issue loans has increased, but they still wish to manage risks by the loan guarantee of KredEx“, Lehar Kütt said. „As a positive trend in the portfolio of KredEx it may be pointed out that the share of investment loans is again increasing; also the number of starting companies receiving a start-up loan with KredEx guarantee is growing well,“ Lehar Kütt added. The share of bank guarantees has also continually increased in the portfolio of KredEx. Bank guarantees make it possible for companies to receive orders for carrying out new large projects. Prepayment guarantees, offer guarantees, performance guarantees, warranty period guarantees and payment guarantees guaranteed by KredEx are most widespread in building, industrial and IT sectors. From year 2001, KredEx has guaranteed bank loans, leasing transactions and bank guarantees for 1,677 companies in total amount of approximately 5.8 billion kroons. The issued guarantee amount totals approximately 3.1 billion kroons. Loan guarantees of KredEx have supported the creation of 7,500 new jobs. The loan guarantee of KredEx is an additional guarantee, which increases the possibilities for entrepreneurs to include financing from banks in the form of a loan, leasing or a bank guarantee. Loans with KredEx guarantee are issued in cooperation between all larger commercial banks in Estonia. Loan guarantees of KredEx are co-financed from the European Regional Development Fund
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