Micro loans from Almi

About the grant

Micro loans are smaller loans for micro companies and sole proprietors in Sweden, i.e. companies with a maximum of nine employees and an annual turnover or balance sheet total below EUR 2 million, who have difficulty accessing credit. The loan is used for forward-looking initiatives in the business and has simpler collateral requirements, making it a good option at an early stage or when the need is limited. The micro loan can be used for investments in equipment, marketing efforts, product development, digitalisation, recruitment or to strengthen the company's liquidity. The loan can amount to a maximum of SEK 250,000 and normally requires no co-financing. It is offered on favourable terms thanks to a guarantee from the European Investment Fund, including longer term, initial repayment freedom and lower interest. The micro loan is financed with support from the European Union under the InvestEU Fund. The application process includes submission of loan application, assessment, dialogue about the company's needs and finances, decision and payment as well as follow-up over time.

Requirements

• The company must be registered in Sweden.
• The company must have a maximum of nine employees and an annual turnover or balance sheet total under EUR 2 million.
• The company can be in start-up or established with a need for smaller initiatives.
• Limited personal guarantee of 10 percent of the loan amount is normally required.
• Private individuals cannot apply, only companies.

What types of project are suitable?

Source

Frequently asked questions about Micro loans from Almi

Quick answers to what people ask most about this grant.