Bank support gives small businesses the courage to think big


‘Starting a business often raises a lot of questions and fears for people. However, having a good business idea and knowing that the bank is there to support you in starting up your business, growing it, and in the event of difficulties, also gives the entrepreneur the courage to think big,’ said Marko Kiisa, Head of Corporate Financing at LHV.

Promoting entrepreneurship has always been a priority for LHV. As a domestic bank, we know the local environment well and understand the expectations and needs of entrepreneurs. To help entrepreneurial people start and grow a business, Kiisa says it is important to offer not only the best services, but also fast, flexible and professional service.

‘It is important for entrepreneurs to be able to do business with the bank comfortably. Our values include being simple, supportive and efficient, and this is also reflected in our service. We always talk about things as they are, listen to the client and together, we reach the best result; we find a solution even in difficult situations, and do not leave the client alone with their issue,’ said Kiisa.

‘The past year has been a very difficult one for many entrepreneurs, meaning that our role in supporting and advising our clients is all the more important,’ he added.

For start-ups and small businesses, getting the loan they need to launch their business can also turn out to be quite a difficult challenge. LHV has a solution to this too, as small businesses can get a micro loan of up to EUR 50,000 without any self-financing or collateral.

LHV’s micro loan is intended specifically for smaller and growing businesses that need a small additional impetus for the next leap in their development. ‘The micro loan can be used by businesses just how they require. It is mostly used to increase business volumes, to buy new equipment or machinery needed for business activities, or to make other smaller investments,’ he explained.

Any business registered in Estonia and operating here with a turnover or balance sheet total of up to EUR 2 million per year can apply for a micro loan. You can apply for a loan amount between EUR 5,000 and EUR 50,000, for a term of 1 to 6 years. A guarantee from a private person or business is suitable as collateral, i.e., business assets do not have to be pledged as collateral. Self-financing is also not required for micro loans.

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