249
Companies registered in Estonia
301
Regular
clients

Writing business plans for EAS, banks and KredEx

We offer the service of writing business plans which are required when you apply for grants from EAS or for financing from banks and KredEx.

 

EAS

1. Start-up grant (starditoetus) 

Maximum amount: 15,000 euros; self-financing: at least 20%. An enterprise must be in operation for no more than 24 months. If an enterprise operates in Tallinn or Tartu, its development plans should include expansion to international markets and creation of new jobs.  The programme requires that the sales revenue of the enterprise should reach 80,000 euros by the end of the third financial year with exports accounting for at least 10%. 

Use of the grant:

  • purchase of machine tools/equipment;
  • transportation, adjustment and installation of tangible fixed assets acquired with the help of the grant;
  • marketing activities;
  • staff costs.
  • Areas of activity for which the start-up grant is not available:
  • agriculture;
  • retail and wholesale trade.

 

2. Innovation voucher (innovatsiooniosak) 

Maximum amount: 15,000 euros; self-financing: at least 20%. 

 

3. Development voucher (arendusosak)

Maximum amount: 15,000 euros; self-financing: at least 30%. 

Innovation and development vouchers are designed to support innovative or unique products and processes. 

Target group: small and medium-sized enterprises who have never received any grants in the form of an innovation voucher.

Supported activities:

  • design and implementation or technological solutions, for instance, creation of prototypes;
  • advice on product and service development;
  • organisation of product testing and industrial experiments;
  • research on saleability and payback;
  • legal advice, research and registration of patents, industrial designs or industrial design solutions.

 

4. Enterprise development programme (ettevõtte arenguprogramm)

Grant amount: 500,000 euros; self-financing: up to 55% 

Target group: enterprises operating for at least 3 years with at least 8 employees

Area of activity: production or technology

This programme is designed to help enterprises achieve new heights by increasing the level of sales (by at least 10%), introducing new products, entering new markets, building up volumes, etc. Export ambitions are a plus.

Use of the grant:

  • staff development (recruitment of new specialists);
  • marketing activities;
  • product and process development;
  • acquisition of machine tools/equipment the total cost of which should not exceed 200,000 euros;
  • transportation, adjustment and installation of tangible fixed assets acquired with the help of the grant.

 

KredEx

1. Start-up loan with KredEx guarantee

A start-up loan is designed to help beginner enterprises and enterprises operating for no more than three years to finance their investments and current assets.

A start-up loan is the way to go if there are difficulties with launching a company due to a lack of start-up capital, but the level of self-financing is too small or the security is insufficient for taking out a bank loan.

Unlike a conventional bank loan, a start-up loan is provided against a smaller security from the enterprise. Generally, it is quite sufficient for the owners of the loan recipient (who are natural persons) to provide a personal surety. If the loan is used for its intended purpose, the personal liability of the surety provider does not exceed 40% of the loan amount.

Main requirements for applicants:

  • The enterprise has been registered in the commercial register for no more than three years.
  • The equity of the enterprise meets the requirements laid down in the Commercial Code.
  • The owners of the enterprise include only natural persons and/or business associations within the meaning of the Commercial Code.
  • The enterprise, its owners and members of the management board do not have any debt arrears that have not been rescheduled.
  • The enterprise is sustainable and solvent and the business plan is feasible.

 

2. Business loan guarantee 

A business loan guarantee is designed for enterprises who would like their operations to be financed through a bank or a lease. An enterprise can benefit from a loan guarantee if it wishes to use a bank loan, lease or bank guarantee but lacks sufficient security or operational history.

Main requirements for applicants:

  • The enterprise is creditworthy.
  • The equity of the enterprise meets the requirements laid down in the Commercial Code.
  • The enterprise does not have any debt arrears that have not been rescheduled.

 

3. Technology loan

A technology loan is designed for export-oriented enterprises which operate in such industries as manufacturing, extraction, electric power production, transmission and distribution, waste handling and disposal, etc. and wish to invest into machines and equipment.

A technology loan is the way to go if a bank loan or lease is used to finance an investment, but the enterprise lacks sufficient capital required for self-financing. Similarly to an enterprise owner, KredEx provides the enterprise with capital in the form of a subordinated liability which, in the eyes of other financiers, increases the self-financing of the enterprise. This makes it possible to take out an additional lease or bank loan thus boosting the growth of the enterprise. KredEx does not interfere with the management of the enterprise which has received a loan.

Main requirements for applicants:

  • The enterprise is registered in the commercial register of the Republic of Estonia.
  • The enterprise does not have any debts arrears that have not been rescheduled.
  • The enterprise is sustainable and solvent.
  • The equity of the enterprise meets the requirements laid down in the Commercial register.
  • Members of the management board and owners of the enterprise are reliable and competent.
  • The equity and self-financing of the enterprise account for at least 50% of the amount of the subordinated loan applied for.

 

4. Capital loan

A capital loan is suitable for enterprises which have proved the efficiency of their business model and are planning to invest in development. 

A capital loan is the way to go if the enterprise wishes to finance its fast growth with loan capital, but the level of self-financing is too small or the surety is insufficient for taking out a bank loan. Similarly to an enterprise owner, KredEx will provide the enterprise with capital which, due to its subordination, increases the level of self-financing in the eyes of other financiers. This, in its turn, makes it possible to attract additional funding, e.g. in the form of a bank loan.

 

Requirements for applicants:

  • The enterprise is registered in the commercial register of the Republic of Estonia.
  • The equity of the enterprise amounts to at least 100,000 euros and meets the requirements laid down in the Commercial Code.
  • The enterprise does not have any debt arrears which have not been rescheduled.
  • The enterprise is solvent and is a going concern.
  • The members of the management board and the owners of the enterprise are reliable and competent.

 

5. Export loan

An export loan is designed for enterprises who wish to finance large-scale export transactions with goods manufactured in Estonia.

An export loan is the way to go if an enterprise needs to offer a long payment term to a foreign buyer, pay a loan insurance premium or finance the production of goods to be sold to a foreign buyer.

A prerequisite for granting the loan is that the credit and political risk related to a foreign buyer is insured by KredEx Krediidikindlustus.

Main requirements for applicants:

  • The enterprise is registered in the commercial register of the Republic of Estonia.
  • The enterprise does not have any debt arrears that have not been rescheduled.
  • The enterprise is sustainable and solvent.
  • The equity of the enterprise meets the requirements laid down in the Commercial Code.
  • The members of the management board and the owners of the enterprise are reliable and competent.
  • The enterprise has the experience of implementing similar export projects.

 

* Enterprise Estonia (EAS) was created in 2000 to foster entrepreneurial and regional policy in Estonia and is one of the largest organisations offering state support for entrepreneurs. The foundation provides financial assistance, advice, cooperation opportunities and training to entrepreneurs, academic and research institutions as well as public and non-profit sector.

** KredEx is a financial institution helping Estonian enterprises develop quicker and expand more safely to foreign markets, offering loans, credit insurance and securities guaranteed by the state.

 

Time frame: starting from one week

Price: from 500 euros