Business Finland provides DEVELOPMENT FINANCING FOR DISRUPTIONS

>> for companies employing 6–250 people

Companies can apply for development financing provided by Business Finland in the event of disruption. The financing is intended for SME undertakings (ltd, plc, general partnership, limited partnership, co-operative) operating in Finland who have 6–250 employees, and for mid-cap enterprises whose business operations are impacted by the coronavirus situation. The company can use the financing to develop new products or procedures, but it cannot be used to compensate for losses resulting from loss of sales. The financing is provided as aid and does not require repayment.

Two different forms of aid can be applied for. Companies can use a preliminary assessment (aid amounts to 80% of the total cost of the project, limited to €10,000) to assess and plan new business operations, replacement subcontracting chains, and the reorganization of production during and after a disruption caused by the coronavirus. Development financing (aid amounts to 80% of the total cost of the project, limited to €100,000) can be used by companies to carry out development measures they have identified during a preliminary assessment or otherwise for dedicated operations that are intended to improve the company's prospects during and after a disruption caused by the coronavirus. These measures must be aimed at creating new product- or production-related solutions for the company.

Who can apply for the aid?

• SME undertakings operating in Finland with 6–250 employees, and mid-cap enterprises whose turnover or consolidated group turnover is at most 300 million euros
• companies operating in the domestic market and export companies
• Almost all sectors where current operations are impacted by market and production chain disruptions

More information: https://www.businessfinland.fi/en/for-finnish-customers/services/funding/disruptive_situations_funding/