Government guarantee programme for companies extended until 30 September 2021
The Swedish Government has decided to extend the Government guarantee programme for companies (Företagsakuten) ending 30 June, to 30 September 2021. The guarantee programme for companies is a credit guarantee scheme introduced in the spring of 2020 to mitigate the damage to the economy from the coronavirus pandemic.
The guarantee programme entails that the Swedish National Debt Office can provide credit guarantees for loans granted to companies by participating banks and credit institutions. The programme caters primarily to small and medium-sized enterprises in Sweden that have been adversely affected financially by the pandemic but are otherwise viable.
“The majority of the guarantees were issued during the spring of 2020 when uncertainty about the pandemic's impact on the economy was at its peak. Although current demand for the state guarantees is limited, an extension of the Government guarantee programme for companies is a good measure because the pandemic is not over and the economy has not yet returned to normal,” says Magnus Rystedt, Head of Guarantee and Financing at the Debt Office.
Statistics show that mainly smaller loans have been issued within the framework of the Government guarantee programme for companies. On 30 May 2021, lending under the programme amounted to SEK 2.6 billion across 754 loans.
With the extension, companies can now apply for loans under the guarantee programme until 30 September 2021 by contacting their lender/bank. The state guarantee framework for 2021 amounts to SEK 50 billion. Since the central government guarantees up to 70 per cent of the loan amount, guaranteed loans under the programme if fully utilised could total just over SEK 71 billion.
Read more on the Debt Office's website (in Swedish)
The Debt Office Press service, email@example.com, +46 (0)8 613 47 01