Danish banks and businesses have now embraced the SME guarantee in earnest. During the first nine months of 2013, EKF provided SME guarantees of more than DKK 100 million, corresponding to the combined figure for 2011 and 2012.
The SME guarantee aims to address the needs of small and medium-sized enterprises. It helps Danish companies' customers abroad to obtain financing that may only be used to buy goods and services in Denmark. EKF's SME guarantee provides the customers with the necessary financing and, hence, makes it more attractive for them to do business with Danish companies.
Anette Eberhard, CEO of EKF, says:
"The SME guarantee has made a significant breakthrough this year. It usually takes time for banks, companies and the companies' customers to embrace new marketing tools, but now something is finally starting to happen. In 2013, Danish banks have provided finance to Danish companies' customers in e.g. Estonia, Australia, Uganda, Thailand and South Africa, ensuring lots of new orders for Danish SMEs."