The agreement is a clear stamp of quality on the fund's analysis work and its routines and policies for lending, says Fredrik Sjöstrand, who is responsible for the fund's management and credit analysis.
Scandinavian Credit Fund I (SCFI) has signed an agreement with the European Investment Fund (EIF) regarding a credit guarantee program for small and medium-sized enterprises (SMEs). The guarantee framework for the agreement amounts to SEK 3 billion and aims to support Nordic small and medium-sized
The agreement enables Scandinavian Credit Fund I to offer improved terms for its borrowers. The investment team that manages Scandinavian Credit Fund I is an integral part of Finserve Nordic AB. Finserve Nordic AB offers a number of alternative funds as well as equity funds and the offer is aimed at both the retail and the Institutional segment.
Fredrik Sjöstrand, the fund's responsible manager, says in a comment - "We in the Investment team who manage Scandinavian Credit Fund I are proud to be included in European Investment Fund (EIF´s) Guarantee Program. The program means our rigorous analysis work, in combination with strict policies and instructions, has undergone a lot extensive Due Diligence process and has been approved by the EIF. We can now with the warranty program choose to include new credits covered by the EIF guarantee on 70% of the loan amount, in return borrowers receive a slightly lower interest rate than would otherwise be the case”.
European Investment Fund Chief Executive Alain Godard adds in a comment: “The European Guarantee Fund enables the EIF to do what it does best, to provide funding to European SMEs. Just like in other countries, Nordic companies have had to dealing with the restrictions associated with the COVID pandemic and the EIF attaches great importance to the collaboration with Finserve to be able to reach out to these companies”.