Access to finance

An overview of the sources of funding available to SMEs in Sweden.

Besides bank loans and venture capital, companies requiring capital can apply for investment financing and business financing.

Under special circumstances, companies can also receive financial support from authorities, research institutions and foundations.

Bank loans

Many banks offer loans to small and medium-sized companies.

The banks that are members of the Swedish Bankers' Association have a common website.

The Swedish Bankers' Association

The bank makes an overall evaluation in order to assess the risks associated with the loan and the repayment capabilities of the company.

• The entrepreneur - experience, private financial situation, references and education
• The business plan - if it is realistic and detailed enough
• Other owners of the company
• If there an accountant or financial help?
• For already established companies, the bank also wants to see a statement of assets and liabilities, a balance sheet and perhaps also a tax declaration.

Requirements regarding collateral

The bank needs collateral for the loan. For example, the company's assets (goods in stock, accounts receivables etc.) may be mortgaged (a so-called mortgage on business assets).

If the loan is for individual objects, such as for example a machine, the object itself may be sufficient as collateral.

Almi

ALMI Företagspartner (Corporate Partner) AB is a state-owned company which offers financing with less demands for collateral but at a higher rate of interest than ordinary bank loans.

• Feasibility study funding - in order to investigate the market potential of an innovation project.
• Company loan
• Micro loan - for companies with smaller capital requirements.
• Innovation loan - for the development of innovation projects.
• Export financing

More information can be found on ALMI's website.

ALMI [SV]

Resources

The innovation bridge (Innovationsbron)

FOKUS Verifiering (Verification) provides development grants to investigate as to whether innovations are technically and commercially viable. Grants are also given for the protection of industrial property for research results which have a commercial potential.

The Knowledge Foundation (KK-Stiftelsen)

The foundation offers support to small and medium-sized companies via two programmes; one is research oriented and the other is expertise/skills oriented.

The Knowledge Foundation

Connect Sweden (Connect Sverige)

A non profit-making network which helps companies to find venture capital and private investors (so-called business angels).

Connect Sverige [SV]

The Swedish Energy Agency (Energimyndigheten)

The Swedish Energy Agency supports the development of ideas which can be of commercial value within the energy industry.

The Swedish Energy Agency's website

Industrial Fund (Industrifonden)

Industrifonden is a long-term investor which offers equity capital or loans to Swedish companies with the potential to grow in an international market.

Industrifonden's website

Programmes

NUTEK - Swedish Agency for Economic and Regional Growth

The authority provides corporate support via a number of specific programmes:

• Product development of goods and services in small companies
• Supplier programme for the vehicle industry
• The Power of Action with IT

Skills development within IT and secure electronic business processing.

• Regional investment support

Regional business operations which are judged to become profitable and have long-term success.

• Employment grant

Companies located in so called regional support areas which run business operations entitled to support and which create new long-term job opportunities.

• Environmentally-driven markets

Expanding companies that can develop their business via networks.

• Production lift

Initiatives to increase knowledge within production in small to medium-size companies within the Swedish manufacturing industry.

Foundation for Strategic Research (SSF)

ProViking is a research programme which supports new methods for the development of new and/or improved products.

ProViking [SV]

ProEnviro is a research programme focusing on manufacturing processes and/or services which have a low impact on natural resources and the environment throughout their entire lifecycle.

ProEnviro [SV]

Vinnova

This authority provides support via several programmes:

• Research &Grow (Forska&Väx)

This aims to strengthen companies' competitiveness and contribute to economic growth and new job opportunities in Sweden. To be eligible for support the company must show a strong level of ambition to further develop and grow.

• Everyday IT

A programme for exciting, beneficial and fun IT products/services for individuals' everyday and leisure time activities.

• VINN NU

Addressing newly started limited companies that base their business operations on the results of research and development.

Vinnova's programme [SV]

Personalised help and advice

The Enterprise Europe Network provides businesses with information and advice through its local partners.

Enterprise Europe Network – contact points – Sweden

Source: European Commission