Norway. SG Finans AS
| Date of agreement: | 24 Sep 2013 |
|---|---|
| Country: | Norway |
| Customer: | SG Finans AS |
| Amount in EUR: | EUR 80 million |
| Maturity: | 5 years |
| NACE sector / loan type: | Loan programme |
Project
The loan programme will be utilised to finance equipment leasing to Norwegian small and medium-sized enterprises (SMEs). The loan programme is earmarked for investments in R&D, tangible assets (for instance, machinery and equipment) or ICT.
SG Finans AS is a wholly-owned subsidiary of Société Génerale Equipment Finance, part of Société Génerale Group. Operating on the Scandinavian market, SG Finans is Norway’s leading finance company within equipment leasing and factoring.
Fulfilment of NIB's mandate
The loan programme is expected to improve access to financing for SMEs, which account for a large share of economic output in NIB’s member area. Therefore, projects contributing to the growth of the productivity of SMEs’ are likely to facilitate the output and competition across sectors and, subsequently, boost regional growth.
Sustainability summary
Given the type of projects SG Finans normally finances the environmental risks are considered minor. The company is in the process of establishing procedures, ensuring that only projects in compliance with NIB’s Sustainability Policy and guidelines can receive funding under the loan programme.
