Business Finland has launched two new financial services (the minimis funding) aimed at mitigating the economic impact of the COVID-19 pandemic.
The financing services are intended to cover nearly all industries with operations that currently are suffering due to market and production chain disruptions caused by the COVID-19 pandemic. The financing is intended for companies to explore and tap into new business opportunities in emergency conditions.
It is also possible for the companies to apply for changes (including in project times, implementation, and project plan contents) in relation to the already ongoing projects to which Business Finland has provided funding.
The financial services are aimed at SMEs that employ 6–250 people and for midcaps that may employ more than 250 people but have an annual turnover of less than €300m.
A company may receive the funding only once, with the exception of special cases.
Funding is aimed at companies that had prerequisites for profitable business operations before the COVID-19 crisis.
Companies may submit their application here.
Available from 26 March 2020.