Eligible companies may apply for state guaranteed loans, instalment loans and overdrafts
with a value up to the lesser of NOK 50M (SMEs) or NOK 150m (non-SMEs), or two times the
borrower’s labour costs or 25 per cent of its turnover from 20191.
May receive multiple loans and from different lenders, but the maximum threshold applies
on an aggregate basis.
Norwegian Government guarantees 90 per cent of the loans on a pro rata basis.
Loans with maturity up to three years.
Guarantees are granted by the lenders and controlled by the administrator (the Norwegian
Export Credit Guarantee Agency/GIEK) if the guarantee is utilised.
Purpose of the loans is limited to operational expenses and investments, the latter only
to the extent necessary to recover from the COVID-19 crisis.
Loans to be on market terms.
Norwegian registered companies and foreign companies conducting business in Norway
subject to registration in the Norwegian Companies Registry (regulation depending on
whether or not the company is an SME)
- Must have operations in Norway.
- Cannot have been in financial difficulties prior to 31 December 2019.
- The company must suffer from a sudden liquidity shortfall, which is directly or
indirectly linked to the COVID-19 crisis.
- The company must be deemed profitable under normal circumstances (which will be
assessed non-contested by the lenders)
The Norwegian Export Credit Guarantee Agency (GIEK) administers the guarantee scheme on
behalf of the Government.
Financing made available through accredited lenders.
Applications to be made directly to the accredited lender.
From 27 March 2020 (SMEs) and 3 April 2020 (non-SMEs)