|Date of loan:||23 Nov 2016|
|Customer:||SG Finans AS|
|Amount in EUR:||EUR 150 million|
|NACE sector / loan type:||Loan programme|
|Financial institutions and SMEs|
|Arctic Financing Facility (read more): 17%|
The funds under this loan programme will be onlent to small and medium-sized enterprises (SMEs) in Norway for the purpose of financing equipment leasing. Up to EUR 25 million of the facility is earmarked for SME projects in the country’s Arctic areas.
Owned by the bank Société Générale, SG Finans is a major equipment leasing and factoring provider in Scandinavia. It has 55,000 clients and 91,000 contracts in its portfolio, mostly in financing equipment in the construction, high-tech and manufacturing industries as well as aviation in Norway, Sweden and Denmark.
The loan programme is guaranteed by the parent bank, Société Générale.
Eligible projects should conform to NIB’s criteria for SMEs. It is likely that the same type of equipment that has been financed under NIB’s previous loan will also be financed under the new facility.
Projects to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines.
In 2017, NIB is participating as observer to an expert group set up to provide recommendations for the European Commission on sustainable finance.
19 Jan 2017
The facility will finance SME and small mid-cap investments in a broad range of sectors in southern Sweden.
23 Dec 2016
NIB starts disclosing its purchases of green bonds. First eight transactions have been published on the Bank’s website.
22 Dec 2016