Who can apply?
It is the exporter’s bank that applies to GIEK for support of its loan to the exporter.
GIEK has same terms as the bank
If the bank is inclined to disburse a production loan, the bank may submit an electronic application asking GIEK to share the risk of the loan on the same terms as the bank.
The exporter’s bank is required to issue a loan and assume its own risk for the portion that GIEK’s guarantee does not cover.
What does the guarantee cover?
- The exporter’s bank extends a credit line whose risk GIEK mitigates.
- GIEK’s guarantee can cover up to 50% of the loan value.
- Equal terms in the collateral the bank accepts for the facility.
- Same premium as the bank’s risk premium.
- The loan may finance only the execution of the export contract.
- Payment under the export contract shall be secured e.g. through a Letter of Credit (LC).
Standard terms for GIEK guarantees
- Fulfilment of rules regarding Norwegian share/Norwegian interest.
- Sustainability, environment and anti-corruption (CSR).
How does the guarantee work?
How much does it cost?
GIEK charges the same premium as the bank’s risk premium.
Apply here: Production loan application form (in Norwegian).
Do you want to be prepared before you begin the application process?
We have collected all the questions you will get during the application process:
Production loan guarantee (in Norwegian).
FAQ about the application forms.