Changes in loan terms

If your project is delayed, it fails or its results cannot be used in business operations, you can request Business Finland to amend the loan terms.

The primary solution in these cases is to offer the debtor an extension to the repayment period, but in some cases the unpaid principal and interests can be converted completely or partially into a grant.

Loan terms may only be changed on application by the debtor. Applications must be submitted in good time before the next installment is due so that Business Finland can take the upcoming installments into consideration when making its decision on changes in loan terms. If the application is submitted after an installment has fallen due, the debtor has to pay the overdue installments according to the original loan terms. Instructions for applying for an amendment to loan terms can be found on the Business Finlands website.

Short-term payment plans for overdue installments may be agreed upon with the State Treasury. The appeal process will not affect loan repayment, and any arrears will accrue the normal penalty interest according to the loan terms.

Published 2012-11-26 at  10:55 , updated 2018-05-15 at  15:49
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