5 Dec 2019
EUR 20 million
Financial institutions and SMEs
NIB and Volvofinans Bank AB (publ) have signed a new loan facility totalling SEK 500 million (EUR 51 million) for onlending to small and medium-sized enterprises and small mid-caps in Sweden to finance the acquisition of commercial vehicles.
The seven-year loan facility will finance investments of smaller businesses in trucks, trailers, vans and busses from car and truck dealers associated with Volvofinans Bank in Sweden.
This is the second loan programme initiated by NIB and Volvofinans Bank; the first was launched in May 2016. The facilities aim to support productivity growth for SMEs and small mid-caps in the Nordic-Baltic countries.
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.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact
Mr Ralf Hansson, Senior Manager, Origination, at +358 10 618 0268,
Ms Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234,