All agreed loans

Norway. Brage Finans AS

Date of loan: 16 May 2018
Country: Norway
Customer: Brage Finans AS
Amount in NOK: NOK 175 million
Amount in EUR: EUR 18.28 million
Maturity: 6 years
NACE sector / loan type: Loan programme
Business area: Financial institutions and SMEs

Project

The loan programme has been provided for financing equipment leasing for small and medium-sized enterprises in Norway. Brage Finans is a leasing company, headquartered in Bergen, established by ten savings banks outside the savings banks alliances in 2010. Two more savings banks joined the ownership group in 2017, so the company is now owned by twelve independent savings banks. The largest of them are Sparebanken Vest, Sparebanken Sør, Fana Sparebank and Helgeland Sparebank. Of Brage’s customer base, the biggest sectors are construction, transport, service and industry.

Fulfilment of NIB's mandate

The loan programme is expected to improve SMEs’ access to financing and indirectly facilitate productivity growth.

Sustainability summary

Each allocation will be assessed on the basis of its potential environmental and social impact in accordance with NIB’s Sustainability Policy and Guidelines. Onlending to projects in the oil and gas sector is excluded in this loan programme.

Press release

NIB og Brage Finans signerer leasingfinansieringsavtale for små og mellomstore bedrifter