5 Dec 2019
EUR 20 million
Financial institutions and SMEs
|Date of agreement:||8 Nov 2018|
|Customer:||SpareBank 1 SMN|
|Amount in NOK:||NOK 1,000 million|
|Amount in EUR:||EUR 104.75 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
The loan has been provided to SpareBank 1 SMN for onlending to small and medium-sized enterprises (SMEs) and environmental projects in Norway.
SMN’s loan book includes SMEs in e.g. the real estate, agriculture, forestry, fisheries and transportation sectors in the counties of Trøndelag, Møre og Romsdal and Sogn og Fjordane.
The bank is currently developing new digital offerings and products for business and industry in order to better serve its clients.
SpareBank 1 SMN is an independent regional savings bank, and the third-largest savings bank in Norway. The bank has approximately 221,000 retail customers and 20,000 corporate clients, mostly SMEs. SMN is a member of the SpareBank 1 Alliance, and is headquartered in Trondheim.
The loan facility is expected to alleviate credit constraints for small and medium-sized companies and to support small-scale environmental projects. Companies eligible for financing under the loan facility are required to comply with NIB’s criteria for SME lending.
Projects that are financed through a financial intermediary are required to fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines.