Loans, guarantees and credits

Financing provided by Finnvera supplements the financing markets and promotes the development of business, regions and exports. The loans and guarantees supplied by Finnvera help to improve and diversify the chances of companies to obtain funding, particularly in the SME sector.

It is also possible for Finnvera to enter corporate bonds. The State participates in the compensation of losses arising from the credits and guarantees provided by the company for Finnish SMEs, which means it is able to take on greater risks in providing loans than banks usually are.

It is the company’s task to correct the deficiencies in financing services, which means it generally shares the risk with other financiers. It is required that the company is self-supportive.

Finnvera’s domestic activity is governed by the specific legislation that applies to it and the state’s economic and corporate governance policies. Finnvera must also take the EU rules on State aid into account.

Further information:
Jyrki Orpana, Senior Adviser, [email protected]
Henri Tuominen, Senior Specialist, [email protected]

Finnvera plc is a specialised financing company owned by the State of Finland and it serves as Finland's Export Credit Agency (ECA). Finnvera guarantees risks to export financing. Finnish Export Credit´s (FEC) export financing services are part of Finnvera's activities.

Export Credit Ltd makes companies and credit institutions interest equalisation and export credit offers for export and shipbuilding credits that meet OECD conditions. FEC concludes interest equalisation agreements with Finnish and foreign credit and financial institutions and provides funding for export credits.

Further information:
Inkalotta Nuotio-Osazee, Senior Ministerial Adviser, [email protected]

The purpose of the State Guarantee Fund is to ensure that Finnvera plc is able to provide the export guarantees, guarantees and other commitments referred to in the Act on the State Guarantee Fund.

If according to Finnvera’s annual accounts, the company’s separate result arising from its commitments shows a deficit, which cannot be covered by the assets in Finnvera’s export credit and special guarantee activities fund, the deficit will be covered out of the State Guarantee Fund’s assets.

If the State Guarantee Fund does not have sufficient assets to cover the deficit, the deficit will be covered from the state budget. The State Guarantee Fund monitors Finnvera’s stock of liabilities and its sensitivity to risks and the ratio between them and the Fund's assets.

The assets of the State Guarantee Fund also cover the guarantees, state guarantees and other contingent liabilities of the Finnish Guarantee Board and its predecessors, the Export Guarantee Board and the State Guarantee Board. Recovery claims account for most of the revenue of the State Guarantee Fund.

Board of Directors

Chair:
Jaana Avolahti, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment

Members:
Antti Makkonen, Senior Ministerial Adviser, Legislative Affairs, Ministry of Finance
Jussi Tuulisaari, Deputy Director, State Treasury
Tiina Ingman, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment

Each member has a personal deputy member.

Secretary-General:
Anu Jänkälä, Ministerial Adviser, Ministry of Economic Affairs and Employment

Further information:
Anu Jänkälä, Ministerial Adviser, [email protected]