Opportunity for Swedish SMEs
Norrlandsfonden, a trust fund that promotes development in SMEs in Sweden, lends roughly SEK 300 million (~€32m) each year in Norrbotten, Västerbotten, Västernorrland, Jämtland and Gävleborg.
Although an independent trust fund, Norrlandsfonden collaborates with banks, venture capital companies, auditors, county councils, local business development agencies and other players to augment viable and sustainable enterprise in northern Sweden. In one such case, Norrlandsfonden is collaborating with the European Investment Fund (EIF) and benefitting from the support of the European Fund for Strategic Investments (EFSI) under the Horizon 2020 programme’s InnovFin initiative.
European Commission Vice-President Jyrki Katainen said: “The Investment Plan for Europe is bearing fruit across the EU and I am pleased to see Sweden benefitting from the EFSI. The guarantee agreement signed today between the EIF and Norrlandsfonden will help small Swedish companies get access to the financing they need for their businesses to grow.”
The deal, InnovFin’s first transaction in Sweden, is designed to reflect the Commission’s diverse and swift response to demand for funds and make it possible for Norrlandsfonden to offer favourable lending conditions for Sweden’s up and coming, innovative enterprises.
