The FINANCIAL — NIB and Volvofinans Bank AB (publ) have signed a new loan facility totalling SEK 500 million (EUR 51 million) for onlending to small and medium-sized enterprises and small mid-caps in Sweden to finance the acquisition of commercial vehicles.
The seven-year loan facility will finance investments of smaller businesses in trucks, trailers, vans and busses from car and truck dealers associated with Volvofinans Bank in Sweden, according to NIB.
This is the second loan programme initiated by NIB and Volvofinans Bank; the first was launched in May 2016. The facilities aim to support productivity growth for SMEs and small mid-caps in the Nordic-Baltic countries.
Volvofinans Bank AB was established in 1959 with the primary task of supporting the sales of associated car and truck dealers in the Swedish market. About 70% of Volvofinans Bank’s lending.
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