Application
1 
The undertaking submits an application to KredEx through eKredEx, along with all of the required documents
2 
KredEx verifies the existence of the required documents and the initial compliance to terms of service
3 
If the required documents exist, KredEx asks the Government of the Republic for a preliminary assessment on the feasibility of processing the application as a project of national importance
4 
In the event of a positive decision of the Government of the Republic, KredEx will thoroughly process the undertaking’s application
5 
The application will pass through KredEx’s decision-making bodies, and it will be sent for confirmation to the Government of the Republic
6 
Upon a positive decision of the Government of the Republic, the contract terms and conditions will be negotiated. If necessary, amendments to the contract terms and conditions will be coordinated in KredEx’s decision-making bodies
7 
A loan contract will be entered into
8 
After collaterals and prerequisites are fulfilled, the loan amount will be disbursed to the undertaking pursuant to the application.
The main terms and conditions
- The undertaking was not a company in difficulty as at 31 December 2019
- Loan amount at least EUR 10 million per undertaking or, in case of a related group of undertakings, per the group of undertakings as a whole, and the loan term from 6 up to 72 months
- The interest rate of the loan is not lower than 1% per year or higher than 6% per year
- The loan must have collateral
- The loan applicant and all enterprises in the group of undertakings associated with them have filed all tax declarations and required annual reports
- The loan applicant’s approved report for the financial year ended in 2019 does not have any reservations
- The loan applicant and the group of undertakings related to the applicant do not have overdue debts to credit and financial institutions
- A real estate development project can be treated as a project of national importance on the prerequisite that the project involves the development of at least 10,000 square metres of non-residential premises and is designated as ‘in progress’ in the Register of Buildings as at 12 March 2020
- The undertaking has an important effect on the Estonian economy, the economic sector or the region, and not applying the financial instrument could very likely bring about negative social consequences or market failures
Application
The direct loan is intended for undertakings who have not received a loan from the bank
