Almi receives SEK 3 billion capital injection to increase lending to small and medium-sized enterprises
Due to the COVID-19 virus, the Government, together with the Centre Party and the Liberal Party, on March 20 presented further measures that will make it easier for Swedish businesses, particularly small and medium-sized enterprises, to access financing at this difficult time. Resources and capital are being injected into Almi Företagspartner AB in order to increase lending to small and medium-sized enterprises throughout the country, thus facilitating their access to financing.
The spread of the COVID-19 virus has resulted in major disruptions to the financial system and the international capital market. It is a serious problem for the Swedish economy that deteriorating conditions are making it harder for companies to find financing. Employment and growth in sound companies are threatened, which is why it is urgent to take measures to facilitate these companies’ access to financing as quickly as possible.
Almi has 40 offices throughout the country, staffed by skilled advisers who can make adjustments at short notice to meet companies’ new needs. Experience from the 2008 financial crisis has demonstrated that Almi can play an important role for small and medium-sized enterprises in difficult times.
To ensure a well-functioning credit supply and mitigate the impact of the virus outbreak on Swedish jobs and businesses, Almi will receive a capital injection of SEK 3 billion and thus be able to increase its lending to small and medium-sized enterprises. This reinforcement will increase Almi’s preparedness to meet the needs of companies whose activities have been adversely affected by the COVID-19 virus outbreak.
In addition to the capital injection into Almi, today the Government, together with the Centre Party and the Liberal Party, also presented more resources and expanded credit frameworks for the Swedish Export Credit Corporation and the Swedish Export Credit Guarantee Agency:
- The Swedish Export Credit Corporation’s credit framework will be increased from SEK 125 billion to SEK 200 billion and can be used to provide both state-supported and commercial credit to Swedish export companies.
- The Swedish Export Credit Guarantee Agency’s ceiling for credit guarantees will be increased to a total of SEK 500 billion, and the lower risk for banks will give companies new and improved credit opportunities.
Information for business owners from government agencies
Verksamt.se has gathered information from government agencies about the new coronavirus, covid-19, which is important to know about as a business owner.