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Conditional loans

Nopef may participate with up to 40% of the approved feasibility study costs in connection with international business set up in a country outside EU and EFTA.

If the feasibility study is realized and a business set up has been established the loan can be fully converted into a grant. 

If the feasibility study doesn’t lead to a business set up only 50 % of the loan can be converted into a grant.

Qualified applications

Which companies are eligible for Nopef loans?

  • Small and medium-sized enterprises with fewer than 250 employees and a turnover less than 50 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 established in the project country.

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 (a country outside the EU and EFTA)

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:

  • Operating 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
  • Inventories or equipment
  • Finding an agent or distributor
  • Training or education