Green recovery financing for small and medium-sized Nordic companies

Is your green business suffering from the current economic challenges?

Nefco is offering fast-track green recovery financing for Nordic small and medium-sized companies (SMEs). The Green Recovery Loan Programme can be used to finance investments and business activities in support of international growth outside the Nordic countries. Our aim is to help your green business grow on global markets and to accelerate the scale-up of Nordic green solutions.

Who can apply?

  • Nordic small and medium-sized enterprises (SMEs) with commercialised green solutions that face challenges to realising green recovery investments and international growth.

Financial requirements of borrower

  • Equity ratio of at least 25% (measured after Nefco investment)
  • At least EUR 100,000 in equity or the same as the required loan amount
  • At least 3 consecutive years of sales revenue

Terms and conditions

  • Possible loan amount ranging from EUR 100,000 to EUR 500,000
  • Loan maturity is max. 5 years
  • Repayment in equal semi-annual instalments
  • Interest rate on market terms, indicatively 8-12%
  • Loans offered do not require security from the borrower
  • Establishment fee of EUR 1,500 payable after the signing of the Loan Agreement

Where and how?

  • For investments and working capital related to the company’s internationalisation on global markets outside the Nordic countries
  • Environmental requirements: The financing provided should contribute to at least one of the objectives defined by the EU Taxonomy
  • Applications are processed via a fast-track mode

Scope of project?

Financing under the SME Green Recovery Loan Programme should be used for activities that support international growth, including for international business development and sales, investments aimed at internationalisation and/or as working capital needed to maintain or further develop international operations and business activities.

Typical projects may be related to the following sectors:

  • industry
  • waste handling
  • water technology
  • energy efficiency
  • renewable energy
  • building technology
  • materials
  • food industry
  • aquaculture
  • agriculture

How we work

We are ready to take a financial risk if there is a green upside. The real risk is not going green.

The environmental evaluation will follow the principles of the EU Taxonomy framework and the financing provided should contribute to at least one of the objectives defined in the Taxonomy. Please note that applicants will be requested to fill in a separate environmental and sustainability questionnaire at a later stage. Read more about our environmental criteria and guidelines for the projects that we finance.

As an international financial institution, we have a range of other policies and guidelines that will help you understand how we work both internally and with our partners and customers. Click to read more.

How to apply

As the crisis is here and now, we aim to make fast decisions to help you proceed as soon as possible with your internationalisation project.

Download the application formPlease note that Adobe Reader is required to fill in the application form.

Add the following attachments to the application:

  • The applicant company’s three (3) most recent audited annual financial statements
  • Current interim figures if financial records are older than six (6) months, profit and loss statement, and balance sheet
  • Financial statements for the group (If applicable)
  • Cash flow projections for the preferred Nefco loan period
  • Confirmation letter of bank account number from the company’s bank
  • Applicant company’s certificate of registration document

In addition we provide a template for your investment and financing budget.

To download the necessary forms, scroll down on the page to ‘Related publications’.

Should you wish to get more information before applying, you can contact us through the contact form. You can also contact our investment managers directly by email or phone.


Victor Degerlund

Senior Investment Officer

Victor Degerlund
+358 106180781
Swedish, Finnish, English

Fredrik Larsson

Investment Adviser, Consultant, Sweden

+46 72 218 3711
Swedish, English

Helena Lähteenmäki

Investment Director

+358 10 6180 633
Finnish, Russian, English, Swedish

Meeri Kaurissaari

Investment Officer

+358 10 6180 682
Finnish, Swedish, English

Auli Nikkilä

Investment Officer

+358 10 6180 652
Finnish, Swedish, English, French

Bo Nyhus

Investment Director

+358 10 6180 665
Danish, English, Russian

Søren Rasmussen

Investment Manager

+358 10 618 0674
Danish, English, Swedish, Finnish

Mikael Reims

Vice President, Origination

+358 10 6180 670
Swedish, Finnish, Norwegian, English

Joakim Svahn

Investment Officer

+358 10 6180 672
Swedish, English

Thor Thorsteinsson

Vice President, Green Transition Nordic SMEs

+358 10 6180 657
Icelandic, Swedish, English

Want to know more about available financing?