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EKF Denmark's Export Credit is ready to provide guarantees for loans to both Danish export companies affected by the crisis and their subcontractors.
Schemes are available to SME's and larger companies as well. In total, the schemes will be able to support loans for approximately DKK 8.5 billion.
"A lot of Danish companies are currently having problems. This applies to both exporters and their subcontractors. For example, because they are missing parts from overseas for production or are unable to ship goods abroad. They are lacking cash but the unpaid bills are still there.
“This is both a problem for companies, but also for employees who fear for their jobs. Therefore, it is good that EKF can step in now and give a helping hand so that we can maintain a robust Danish export sector and Danish jobs."
Simon Kollerup, Minister for Industry, Business and Financial Affairs
With the SME scheme, the Government provides EKF with a guarantee of 80% of the banks' new loans to export companies and subcontractors who have suffered or expect to suffer a revenue loss of at least 30% as a result of the spread of the coronavirus.
The SME scheme is available in EKF now, and in total DKK 1,25 billion has been allocated in the guarantee framework for that scheme.
In addition, DKK 7,1 billion has been allocated as a guarantee framework for the larger companies and the guarantee for this scheme is 80% likewise.
The schemes are valid until December 31, 2020 and are also available to Faroese and Greenlandic companies.
If, as a company, you want a guarantee through EKF, you must contact your bank.
Companies that are affected by the effects of COVID-19 but are not export companies or subcontractors to an export company can seek guarantees through The Danish Growth Fund, which has established similar schemes for both SME's and larger companies.
If you are a company or organization, you can get more information at Virksomhedsguiden.dk or the Danish Business Authority's hotline on tel.: +45 72 20 00 34 (weekdays 08.30-16.00 / Friday 09.00-15.00)