Industry loan


A KredEx Industry Loan can be used to provide co-financing for investments in tangible and intangible fixed assets together with a bank or leasing company.

The Target Group is small and medium-sized enterprises (SMEs) in the manufacturing, mining, electricity generation, transmission and distribution, and waste treatment and disposal sectors.

NB! An Industry Loan can only be used to finance those projects that have not been fully implemented by the time the financing decision is taken.


  • The Industry Loan is a subordinated loan, which helps to increase the project’s self-financing for the credit institution
  • For the company, self-financing is lower than usual and, in some cases, is even unnecessary

For who?

Ettevõtte rahastamiseks

starting enterprise
established company
exporting company

Service is suitable if

  • the company is sustainable and solvent and
  • equity capital meets the requirements set forth in the Commercial Code and
  • the company’s equity capital and self-financing combined comprise at least 50% of the amount of the Industry Loan being sought and
  • the company is entered into the Republic of Estonia’s Commercial Register and does not have arrears for which no payment schedule has been arranged and
  • the company’s management board members are trustworthy and competent.

Important conditions

Loans will not be granted to the following activities and undertakings
  • primary production of agricultural products, fisheries and aquaculture, and forestry
  • manufacturing, processing, and marketing of tobacco (and related products)
  • manufacturing, processing, and marketing of weapons and ammo
  • acquisition of means of transport or equipment used for road freight transport
  • acquisition of passenger cars
  • real estate development projects aimed at sale and lease. If the real estate is developed for the company’s own activities, including the activities of its subsidiaries and affiliates not related to real estate development, it is allowed to lease part of the space, provided that the rental income (except from subsidiaries and affiliates) does not exceed 30% of the annual turnover of the loan applicant
  • entrepreneurs operating in the field of gambling
  • fields of activity related to pornography, illegal data downloading, and provision of illegal access to data networks
  • research and development in the field of health aiming to clone humans for research or treatment purposes or to develop genetically modified organisms
  • funding to encourage the use of domestic products instead of imported ones
  • export-related activity directly connected to the current expenditures of exported quantities, the establishment or functioning of a distribution network, or other operating costs arising from export if de minimis aid is being granted with the issuance of a guarantee
  • decommissioning or construction of nuclear power plants
  • investments to reduce greenhouse gas emissions from activities listed in Annex I to directive 2003/87/EC
  • investments in airport infrastructure, unless they relate to environmental protection or are accompanied by investments required to mitigate or reduce the negative environmental impact of airport infrastructure
Loan amount

Up to EUR 2 million; however, not more than 40% of the project cost

Loan interest

In general, if KredEx finances

  • up to 20% of the cost of the project, interest is equal to the interest rate of the credit institution
  • 20,01–30% of the cost of the project, interest is equal to the interest rate of the credit institution +1 percentage point
  • 30,01–40% of the cost of the project, interest is equal to the interest rate of the credit institution +2 percentage points
Loan Period

Up to 15 years.

Contract fees
  • There is no fee for the conclusion and early termination of the contract
  • The contract amendment fee is 0.2% of the loan balance
Loan guarantee

A separate guarantee is usually not required for an Industry Loan, or a mortgage or commercial pledge is established as a last resort

Repayment of the loan
  • Until the expiry of the loan agreement concluded with the credit institution, the principal instalments of the Industry Loan are subject to a grace period and only interest is payable
  • After the expiry of the loan agreement with the credit institution, the Industry Loan will be repaid in equal instalments according to the following schedule

Good to know

  • You can find more information about the crisis measures intended to alleviate liqiuidity difficulties caused by the COVID-19 outbreak ON THIS PAGE
  • KredEx processes loan applications that have received a positive financing decision from a credit or financing institution.
  • Find out more about Enterprise Estonia’s services for businesses here

Application process

​​​The first step for applying for an industry loan is to contact a bank or leasing company to obtain a decision on issue of the loan or leasing.

If the decision from the bank or leasing company is positive, a bank officer (generally) fills in the industry loan application (you can enter the e-services environment using your ID-card or Mobile-ID), attaching the following documents:

  • financial forecasts on the KredEx form
  • business plan, including the investment project plan
  • decision of the competent body of the credit or financing institution on the issuing of a loan or lease
  • (audited) annual report for the last financial year
  • an interim report for the current financial year, which is no more than three months old at the time of submission of the application
  • CVs of the company’s key personnel.

Contact us

Jaak Tikko

Jaak Tikko

Client Manager

jaak.tikko [at]
Tiina Kalme

Tiina Kalme

Client Manager

tiina.kalme [at]
Argo Suurkask

Argo Suurkask

Client Manager

argo.suurkask [at]
Karmen Piip

Karmen Stepin

Junior Client Manager

karmen.stepin [at]

Marek Tiivel

Client Manager

marek.tiivel [at]