Remission
A conditional loan can be fully or partially converted into a grant when the final project report has been approved.
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.
The Nopef Credit Committee or Board decides on the completeness of the feasibility study and on the conversion of the loan into a grant.
Without an approved final project report the loan cannot be remitted.
Loans that have been granted before 2011 follows the loan conditions that the company in question has signed.