Internationalisation

Nopef may participate with up to 40% of the approved feasibility study costs in connection with international business set up

Normally, the loan is converted into a grant, after the final project report has been approved.

Qualified applications

Which companies are eligible for Nopef loans?

• Small and medium-sized enterprises with fewer than 500 employees and a turnover less than 100 MEUR are welcome to apply. When considering eligibility group affiliation counts when shareholdings exceed 50%.

• Enterprises operational in the Nordic countries may apply for loans from Nopef.

• Companies that have experience in the same business area as the project.

• Companies that have sufficient financial and human resources relative to the size of the project.

• Companies that have been operational for at least one year

• Companies that are not already operational in the project country. But if Nopef considers the new business set up not to benefit from the company's current activities in the project country exceptions to the above rule can be made.

Which projects can be granted a Nopef loan?

• The business set up must constitute a risk to the applicant company, and also represent a substantial investment in the target country.

• Nordic advantage and Nordic business interest must be present in the project - the more the better.

• The aim of the project is to create a long-term business enterprise.

• Typical examples include the establishing of a subsidiary, a joint venture, or a company acquisition in the target country.

• The project location is in Nopef's operational region (in Bulgaria, Rumania or a country outside the EU and EFTA)

Loan conditions

Reporting
The recipient of the loan has an obligation to present a written project status report every six months.

Payments
The loan is disbursed against realized feasibility study costs incurred by the recipient company and certified by an auditor.

Pre-feasibility study costs
Nopef can cover 40% of approved feasibility study costs

Costs that Nopef may cover

• Internal/external salaries
• Travel, accommodation, transport in the target country
• Legal and financial consulting
• External consultants
• Risk and cost-benefit studies
• Translation work and interpreters
• Drafting a business plan for approval
• Business partner evaluation

Costs that Nopef may NOT cover:

• Running costs
• Marketing or marketing material
• Research and development (R&D) or various kinds of tests
• General market research without a definite connection to the business set up/ project export
• Inventories or equipment
• Finding an agent or distributor
• Training or education