Funding and grants
There are many sources of finance available to businesses. Below are some of the options. You can also contact us about these issues, please submit a contact request here.
Banks
In many cases, the main source of finance for start-up and operating companies is the bank. Therefore, get in touch with your bank or banks in your area and discuss your financing needs with them. In many cases, banks will guide you and tell you about the possibility of including public funding (Finnvera Plc).
Finnvera Oyj
Finnvera Oyj is a specialised financial institution of the state that improves and diversifies financing opportunities for both start-up and operating companies through loans, guarantees and export financing services.
Finnvera is flexible to all financing needs and ready to significantly increase its SME financing and help companies. We recommend companies to contact their own bank first. We secure the increased working capital needs of SMEs primarily through our Start-up Guarantee, SME Guarantee and Finnvera Guarantee. The Finnvera website provides information on how to apply for financing, how to change your payment plan and Finnvera’s solutions to your working capital needs.
A new financial product is now available: a growth loan for micro-enterprises. Finnvera wants to help ensure that new growth companies are created, so a new product in the range is a loan for microenterprise growth. The loan is available for a limited period from 1.10.2024 to 31.3.2025. The loan is aimed at improving the growth and productivity of companies with 1-9 employees and is in the amount of EUR 20 000-50 000.
What types of projects are eligible for a loan?
For new financing needs that contribute to the growth, productivity or competitiveness of the micro-enterprise, which are different from the usual activities, such as:
Hiring a new employee, opening a new office, new bigger and/or better premises, investment in machinery and/or equipment, business expansion, development, renewal such as new product/service launches and digitalisation of the business.
Loan equity and pricing
Finnvera requires the company’s main shareholders to apply for special guarantees with their own debt, where the guarantor’s liability is limited to an upper limit in euros. At the time the loan is granted, the guarantees must cover 20 % of the loan amount.
The interest rate is six-month Euribor + a margin of 4.5%. The loan is also subject to a 1.5% delivery fee when the loan is withdrawn.
More information on the growth loan here
ELY Centre
The ELY Centre provides support when a company develops its own activities or invests. The ELY Centre provides services to help SMEs grow and develop their business, improve business and management skills, develop technology and innovation, upgrade staff skills or train new employees.
https://www.ely-keskus.fi/yritysrahoitus
Growth runway for SMEs in Eastern Finland – call for one-off grants open
Companies can now apply for funding for development measures from the Growth Runway for SMEs funding for exploratory projects lasting up to 6 months to support the expansion or renewal of their business. The funding will enable companies to explore new development paths and investment opportunities. The study project will provide the company with a stronger basis for strategic development and for planning future investment and development projects. The grant will support up to 60% of the eligible costs. The minimum grant awarded is EUR 10 000
Growth runway for SMEs in Eastern Finland – call for one-off grants open | Structural Funds
Kalakukko Ry
Kehittämisyhdistys Kalakukko ry is a rural development association in the North-Eastern Savo and Kuopio region and one of the 54 Leader groups in Finland.
Development Association Kalakukko ry, For ideas the size of people since 1996!
We grant funding for development ideas of non-profit actors and micro-enterprises and advise on how to apply for funding. Let us know your idea before you apply for funding. It’s easy to apply using our online application service. Advice is free of charge and we operate in the area of Kaavi, rural areas of Kuopio including Juankoski, Nilsiä, Karttula, Vehmersalmi, Maaninka, Rautavaara, Siilinjärvi and Tuusniemi. The Kuopio urban area between Sorsasalo and Matkus has been excluded from funding. The aim of the association’s activities is to promote the vitality of rural areas in the region and to develop the conditions for living, business and livelihood. Leader supports small-scale development and investment projects in rural areas. Leader funding through Kalakukko is an opportunity to support start-ups and small businesses. The Kalakukko brochure can be downloaded here.
Development Association Kalakukko ry
Isoharjantie 6, 71800 Siilinjärvi, Finland
puh. 040-5103 258
etunimi.sukunimi@kalakukkory.fi
Business Finland
Is your company looking for bold growth and renewal in international markets? We offer the most growth-capable SMEs in Finland funding and advice, as well as information and contacts in the target market. Our basic services are free of charge.