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Yesterday, on July 20th, LHV Bank Ltd and KredEx signed a cooperation agreement according to which the companies that obtain loans from LHV Bank can use the loan guarantees of KredEx KredEx shall guarantee 75% of the loan or bank guarantee issued to a company by the bank, and up to 40% of the unpaid purchase price of leased property. Also, KredEx offers a start-up loan guarantee aimed at the starting entrepreneurs and entrepreneurs operating for up to two years. Unlike a typical loan product, in the event of a start-up loan it is sufficient for a businessman to establish a personal surety as a guarantee, covering 30% of the amount of the loan. From yesterday, also the customers of LHV Bank can apply for an additional guarantee of KredEx in addition to the customers of other Estonian commercial banks. „The guarantee of KredEx facilitates a better financing of companies with a good business plan but insufficient guarantees, “ the Head of Private Banking of LHV Bank Indrek Nuume says. According to Lehar Kütt, Head of Enterprise and Export Division of KredEx, a guarantee of KredEx also helps the companies with a short operating history, operating in a risky area of economy, or with an insufficient self-financing for a bank loan. LHV Bank founded in year 1999 www.lhv.ee/portaal visited by approximately twenty thousand unique users per week.
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