The FINANCIAL — NIB and Finnish Nooa Säästöpankki Oy have signed a long-term loan programme of EUR 10 million for onlending to small and medium-sized enterprises and for financing small-scale environmental projects.
Under the seven-year loan facility, Nooa Säästöpankki will focus on financing small and medium-sized companies in Finland in order to alleviate credit constraints. In addition, the loan facility will also provide funding for renovation projects for increasing energy efficiency in residential buildings, according to NIB.
Projects eligible for financing under the loan facility are required to conform to NIB’s criteria for SMEs.
Nooa Säästöpankki Oy (Nooa Savingsbank Bank Ltd) was founded in 2003. It is the third largest bank of the Savings Bank Group in Finland measured by total assets (as of 31 December 2016). Nooa Savings Bank has offices in Helsinki, Espoo, Vantaa and Central Uusimaa. The Bank’s CEO is Esa Jäntti. At the end of June 2017, the bank had 28,900 customers in the Helsinki metropolitan area.