Debt Office is prepared for extended Government guarantee programme for companies
Press release 17 December 2020
The Swedish Government has proposed to extend the state credit guarantee scheme known as the Government guarantee programme for companies so that guarantees can be issued up to and including 30 June 2021. The programme is administered by the Swedish National Debt Office and is part of the measures to support trade and industry during the ongoing pandemic.
The period for being able to participate in the programme is currently set to expire on 31 December 2020.
We are prepared for a continuation of the Government guarantee programme for companies. The economic development resulting from the coronavirus pandemic is still uncertain. Therefore, the need for state guarantees may remain for some time to come, says Magnus Rystedt, Head of Guarantee and Financing at the Debt Office.
The Government guarantee programme for companies primarily caters to small and medium-sized enterprises, and the loans are provided through the credit institutions’ normal credit process. The Government proposes that the guarantee framework be reduced by half in 2021, from SEK 100 billion to SEK 50 billion. Since the central government bears 70 per cent of the risk, this means that loans that can be guaranteed under the programme could, if fully utilised, amount to SEK 71.4 billion. On 27 November, lending under the programme reached SEK 2.4 billion divided among 684 loans.
Statistics for the Government guarantee programme for companies on 30 October
The most recent statistics on the distribution by sector, geography and size are from week 44 (30 October). The statistics show that the state guarantees have mainly been granted to companies within the hotel and restaurant industry, followed by companies in the trade sector. Just over 50 per cent of the companies are in Stockholm and Region Västra Götaland, and 92 per cent of them have less than 50 employees. So-called microenterprises – companies with less than 10 employees – account for 63 per cent of the number of loans granted under the programme.
|Industry/sector||Number in %|
|Hotel and restaurant||29%|
|Within legal, finance, or technology||7%|
|Rental, travel services and other support services||6%|
|Culture, entertainment and recreation||5%|
|Location of domicile||Number in %|
|Size of company||Number in %|
|Micro-enterprises (0-9 employees)||63%|
|Small enterprises(10-49 employees)||29%|
|Medium-sized enterprises (50-249 employees)||7%|
|Large enterprises (≥ 250 employees)||1%|
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