Innovation loans

About the grant

Innovation loans are loans for companies wanting to develop a new product, service, process or business model where the risk level is higher than traditional investments. It is designed for innovation projects with great potential, where the development phase is ongoing and the investment requires testing, verification or prototype development before reaching the market. The loan can be used to finance activities such as prototype development, testing, technology or business model verification, production preparations or other development efforts. Loan amounts can range from at least 50,000 SEK up to a maximum of 500,000 SEK, often around 300,000 SEK depending on project needs and risk. Almi can finance up to 50% of the project cost, requiring co-financing which can consist of equity, bank financing or other external financiers. Repayment time is usually 3-5 years but can be up to 8 years, adapted to the project's development phases. Interest is set individually based on risk and repayment ability. Applications are made via Almi and processing time is normally 3-4 weeks.

Requirements

• The company must be registered in Sweden
• The company can have up to 249 employees
• The project must be an innovation project with higher risk than traditional investments
• The project must have potential to create growth and competitiveness
• Co-financing is required, Almi can finance up to 50% of project cost
• For loans over 300,000 SEK at least half of the co-financing must be capital (equity, bank financing or external financier)

What types of project are suitable?

Source

Frequently asked questions about Innovation loans

Quick answers to what people ask most about this grant.