3 Jul 2020
EUR 60 million
Financial institutions and SMEs
|Date of agreement:||27 Nov 2017|
|Customer:||Volvofinans Bank AB (publ)|
|Amount in SEK:||SEK 500 million|
|Amount in EUR:||EUR 50.39 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
The loan programme has been provided for onlending to small and medium-sized enterprises and small mid-cap companies in Sweden to finance purchases of commercial vehicles such as trucks, trailers, busses and vans from car and truck dealers associated with Volvofinans Bank.
This is the second loan programme between NIB and Volvofinans Bank; the first was signed in May 2016.
Volvofinans Bank AB 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 financing car and truck sales.
The facility is expected to improve access for SMEs and small mid-cap companies to financing for acquiring commercial vehicles, which is expected to support the growth of productivity among member area companies.
The scope of the loan programme is limited to the financing of purchases of commercial vehicles, and is not expected to have any significant negative impacts on the environment.