All agreed loans

Sweden. Volvofinans Bank AB (publ)

Date of loan: 29 Apr 2016
Country: Sweden
Customer: Volvofinans Bank AB (publ)
Amount in SEK: SEK 350 million
Amount in EUR: EUR 38.1 million
Maturity: 7 years
NACE sector / loan type: Loan programme
Business area: Financial institutions and SMEs

Project

The loan programme has been provided for onlending to small and medium-sized enterprises and small mid-cap companies in Sweden to finance their purchases of commercial vehicles.

Volvofinans Bank was established in 1959 with the primary task of supporting the sales of associated car and truck dealers in the Swedish market. About 70% of Volvofinans Bank’s lending volume originates from car and truck sales financing.

Fulfilment of NIB's mandate

The project is expected to improve SMEs’ and small mid-cap companies’ access to financing for the purpose of acquiring trucks, busses and trailers. The use of modern transport vehicles will support the growth of productivity among member area companies.

Sustainability summary

The scope of the loan programme is limited to financing purchases of commercial vehicles, like trucks, trailers, buses and vans, through Volvofinans's associated dealers and is not expected to have a significant impact on the environment. The heavy vehicle sector applies the selective catalytic reaction method, based on the injection of urea in the catalyst, in order to meet current and future emission requirements for nitrogen oxides. It implies a lack of incentive to use the “cycle beating” systems sometimes applied in cars. Investments to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines.

Press release

NIB underlättar försäljningen av lastbilar till svenska småföretag