The FINANCIAL -- NIB and Estonia’s AS LHV Pank have signed an agreement on launching a EUR 20 million loan programme for onlending to small and medium-sized enterprises in Estonia.
The funds under this 5-year loan programme will be onlent for various SME investments. The loan allocations are expected to fulfil the eligibility criteria for a good rating for loan programmes to SMEs. As a segment, SMEs produce approximately three quarters of the total added value of Estonia’s economy, which is more than the EU average, according to NIB.
AS LHV Pank is part of AS LHV Group which was established in 1999. LHV is the largest domestically owned banking group and the fourth largest in terms of assets in Estonia. The Bank has a strong focus on lending to SMEs in sectors such as real estate, financial services, manufacturing, and transport and logistics.