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      Coop Kindlustusmaakler
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    Small loan for starting entrepreneurs

    Loan calculator

    €
    300
    25 000
    months
    6
    120

    Monthly payment

    -

    The calculation is approximate and may differ from the terms and conditions offered to you.

    Read the price list and pre-contractual information.

    This loan is a useful solution if you want to take your company to the next level and have some big ideas – whether that's contributing to your share capital, quiring some new equipment, boosting your stock or running a bigger marketing campaign.

    The loan is designed for private clients who are looking for additional financing to start or expand their business.

    The loan calculator helps you find the suitable loan amount and monthly payment. Repayments are fixed for the entire loan period and you don't have to worry about the changing Euribor. No collateral required

    You can find your existing small loan in the self-service.

    Interest from 7.9%
    Free early repayment
    Loan amount € 300-25,000
    Useful loan insurance

    Loan in three easy steps

    1.

    Fill in the application form and submit the necessary documents

    You can submit a loan application quickly and easily online or at the branches of Coop Pank nationwide.

    2.

    Sign the contract digitally

    If the offer is suitable, sign the contract using your ID card, Smart ID or Mobile ID.

    3.

    We'll transfer the money to your account

    Depending on your bank, the money will appear in your account on the same working day or the working day after we've transferred it.

    Bring your business to Coop Pank!

    What we want is to make daily banking as easy and convenient for you as possible so that you always have a good overview of your finances.

    • Our Corporate Plan comes with no monthly fee and You can make as many Estonian and European payments as you like free of charge
    • Personal Business Account Manager advises you on your company's finances
    • Interest from 0,5% to 2,0% on the balance of your current account starting from the first euro
    • Flexible financing solutions to grow your business
    • Easy to use Internet and Mobile Bank

    More ways to start a business

    Business client credit card

    With a charge card, you enjoy interest-free credit. You can link a number of cards to your account and set different limits on them, also make payments to your credit card in cash or by bank transfer to increase the amount of funds.
    Interest-free periodUp to 40 days
    Annual fee1% of credit limit

    Loan secured by property

    A loan for starting a business, renovating your home, purchasing property or other major outgoings
    Interest rate from3.5% + 6 months' Euribor
    Loans from€5000

    Good to know

      • No collateral required

      • Fixed annual interest rate from 7.9% on loan balance

      • Loan amount €300–25,000

      • Loan period 6 months – 10 years

      • Agreement fee 2% of loan amount, min €35

      • Agreement administration fee €1.5 per month

      The annual percentage rate of charge on a small loan for starting entrepreneurs is 22,78% on the following sample terms: loan amount €2250, loan term in months 36, number of repayments 36, fixed interest rate per annum 17.9% as calculated on the loan balance, agreement fee €45, monthly administration fee €1,50, monthly instalment €82,73, total credit amount €3023,28 and total of repayments €2978,28. Small loans are provided by Coop Pank AS.

      • The applicant must be at least 18 years old and an Estonian citizen or a foreign national holder of a residence permit

      • The borrower may not be older than 75 years of age upon expiry of the loan term

      • Monthly income from €400

      • Excellent credit record

      The maximum loan amount depends on your monthly income and obligations.

      We will ask you to send us your account statement if necessary. We accept digitally signed account statements for the last six months (in bdoc or asice format), which include information about all income and expenses. You can download it from the internet bank of your home bank. Please upload the statement in self-service.

    • You can submit a loan application online, at the branches of the bank and at Coop stores nationwide.

      You can sign the agreement digitally with your ID card, Smart-ID or Mobile-ID. To pay out the loan identification may be needed. This can be conveniently done via a computer or mobile phone, in branch of Coop Pank or a Coop store. For identification, you need an identity document (ID card, passport or driving license).

      The money will be received in your account after we make the transfer irrespective of the bank.

    • Loan payments

      Please transfer your repayments to Coop Pank AS account no. EE384204278603522603. When making a payment, don't forget to add the reference number, which you'll find on your agreement or e-invoice.

      E-invoices are issued on a monthly basis and can be found in your home bank's Internet bank. The invoices are automatically sent to the bank to which your loan was transferred. To make paying as convenient as possible, we recommend setting up an e-invoice standing order agreement.

      Loan contracts and their amendment

      To view and, if necessary, amend your loan contract, log in to the self-service site.

      There you can:

      • view your existing contracts and repayment schedules;
      • repay a loan in full or in part;
      • change your repayment date;
      • view e-invoices and the payments made on a contract;
      • amend your contact details; and
      • amend your consent.

      The fee for the amendment of a contract is calculated according to the price list.

      Grace period

      If you need to, you can apply for a grace period. The length and the terms and conditions of the grace period are determined based on your needs and the options open to you.

      Application form for grace period

      Completed and signed applications should be e-mailed to finants@cooppank.ee.

      Early termination of loan insurance

      Loan insurance can be terminated before the end date of a contract.

      Application form for termination of loan insurance

      Completed and signed applications should be e-mailed to finants@cooppank.ee.

      Late payments

      If an instalment isn't paid by the due date, we'll text you a payment reminder. The costs and default interest related to overdue payments are calculated according to the price list. If you experience ongoing problems in making your repayments, contact us so that we can find a solution.

    • When entering into a small loan agreement, the borrower can sign an agreement for payment of insurance costs and benefit from the insurance cover provided by If Kindlustus.

      Small loan insurance helps if:

      • you lose the capacity for work as a result of an accident or illness;
      • you lose your job;
      • you have been temporarily away from work due to your own or your child's illness.

      In the event of the borrower's death, insurance will pay the loan balance to the lender so that the obligation will not transfer to the heirs.

      Read the information sheet and insurance terms and conditions.

    • In the case of an insured event, fill in a loss report as soon as possible and write the following in the policy number field: COOP. You will be contacted and instructed on what to do next.

    • Small loan insurance means an additional monthly expense. For example: loan amount €1,000, agreement period 24 months, number of repayments 24, fixed interest rate 19.9% per year calculated on the loan balance, monthly loan payment €52.35, monthly service fee for covering insurance expense €4.19.

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    Customer Support

    6690966
    Mon-Fri 08.30-19.00

    klienditugi@cooppank.ee

    Coop Pank
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    Coop Pank AS, Maakri 30, 15014 Tallinn, Registry code: 10237832, SWIFT/BIC: EKRDEE22

    You are on the website of the companies Coop Pank AS and Coop Liising AS that provide financial services and the insurance marketing company Coop Kindlustusmaakler AS. Before committing to an agreement read the terms and conditions of the respective service and, if necessary, consult an expert. By continuing to use the site, you are agreeing to the terms and conditions of website use.

    • No – they’re designed for company owners whose businesses are only just starting out and aren’t yet deemed creditworthy by banks but who still need funds to kick-start their business and make something of their plans. A small loan is one way of doing that, but has to be taken out and repaid by the entrepreneur as a private client.
    • A loan taken out as a private client can be used, for example, to make a contribution to your company’s share capital or simply to inject funds into your business. Owners borrowing money for their companies is quite standard practice. If you don’t have any experience in this regard, we suggest consulting an adviser before taking out a loan. They’ll outline the different financing options available to you and how you can go about getting them. There’s a network of County Development Centres in Estonia at which professional business consultants offer free advice.
    • A loan taken out as a private client can be used, for example, to make a contribution to your company’s share capital or simply to inject funds into your business. Owners borrowing money for their companies is quite standard practice. If you don’t have any experience in this regard, we suggest consulting an adviser before taking out a loan. They’ll outline the different financing options available to you and how you can go about getting them. There’s a network of County Development Centres in Estonia at which professional business consultants offer free advice.
    • No – you can simply make your monthly repayments from your account in the bank you normally bank with.

      That said, here at Coop Pank we make banking as easy and affordable as possible for businesses. Click here for an overview of the offers we make to our business clients. If you’re planning on setting up an online store for yourself, you should consider the Montonio payment solution, since Coop Pank pays merchants using Montonio a bonus – meaning there’s even more reason to use it!