DBT and European Investment Fund sign 1.5 billion SEK guarantee agreement to increase lending to Swedish SME’s
DBT is the first lender in Sweden to sign an agreement with EIF for their new credit guarantee program for SMEs. This unique collaboration with a SEK 1.5 billion guarantee facility enables further financing with improved credit terms for Swedish small and medium-sized companies.
DBT has been granted a guarantee by the European Investment Fund under the new European Guarantee Fund ("EGF"). This credit program has been developed to support SMEs in the EU that have experienced difficulties in obtaining financing in the economic climate caused by COVID-19. The program offers small and medium-sized companies improved financing terms from selected lenders such as DBT. DBT intends for these loans to help viable companies to continue to grow.
- This agreement is a milestone for all of Sweden's small and medium-sized companies. With a guarantee framework of SEK 1.5 billion, we are able to make a major difference for Swedish growth companies. Thanks to the support and confidence of the European Investment Fund, DBT can now offer corporate loans to hundreds of more medium-sized companies on more favorable terms, says Alexis Kopylov, CEO of DBT.
Since 2018, DBT has had the support of the European Commission through the "InnovFin SME Guarantee Facility". This new EGF program builds on these previous initiatives. Through the agreement, DBT receives increased trust and a mandate from the EIF to together create even better growth opportunities for Sweden's small and medium-sized companies.
- We are very happy to build on our partnership with DBT, especially through the EGF, in order to generate financial support for Swedish SMEs. The uptake of this pan-European instrument shows that support for small businesses that have suffered from the economic fall-out of the pandemic, is both pertinent and timely across the EU. The EIF, as part of the EIB Group, will continue to support Swedish and European SMEs with all available means, says Alain Godard, EIF Chief Executive.
Within the framework of the agreement, DBT will take the guarantee into account when calculating the price of new loans, which provides more favorable terms for small and medium-sized companies.
- We are humbly proud to have the EGF agreement in place. After a rigorous process and thorough screening, the European Investment Fund has approved DBT for their new credit guarantee. It gives us trust in our business model and confirmation that we have created a solid and sustainable business, Alexis continues.
The guarantee is an important building block in DBT's ambition to build the leading lender for Sweden's small and medium - sized companies.
The European Investment Fund (EIF) is part of the European Investment Bank. Its key task is to support Europe's micro companies and SMEs by improving their access to funding. The EIF designs and develops venture capital, guarantees and financial instruments that specifically target this market segment. In this role, the EIF promotes the EU's objectives in support of innovation, research and development, entrepreneurship, growth and employment.
For more information please contact:
Alexis Kopylov, VD DBT, +46 (0) 73-352 33 79, email@example.com
Tim Smit, EIF, +352 691 286423, firstname.lastname@example.org