NIB and Brage Finans sign SME leasing financing deal

NIB and Brage Finans sign SME leasing financing deal

NIB and Brage Finans sign SME leasing financing deal

The FINANCIAL -- NIB and Norway’s Brage Finans AS have signed a NOK 175 million (EUR 18 million) loan agreement for financing equipment leasing for small and medium-sized enterprises.

The loan programme, with a six-year tenor, will finance equipment leasing for Brage Finans’s customers—mostly small businesses in the southern, western and northern regions of Norway. Most of the company’s customers are in the construction, transport, service and industry sectors, and typical investments are in excavators, trucks, construction machinery, vehicles, and production lines,according ti NIB.

“Brage Finans is a new customer for NIB. We are looking forward to expanding our financing network for small businesses in Norway”, says Henrik Normann, NIB President & CEO.

Brage Finans is a leasing company headquartered in Bergen. It was established in 2010 by ten savings banks, the largest of which are Sparebanken Vest, Sparebanken Sør, Fana Sparebank and Helgeland Sparebank. Two more savings banks joined the ownership group in 2017, so now the company is owned by twelve independent savings banks.