Applications can be submitted by companies registered in Estonia and by self-employed people with a stable and sufficient cash flow.
The minimum is 50,000 euros.
Via the Coop Pank website, you’ll need to submit your application along with an explanation of the purpose of the loan, financial statements for your company and any other necessary documents proving your company’s ability to repay the loan.
Yes – in most cases you will need property as collateral, with a mortgage being established on the property.
Depending on the project, a commercial pledge on your company’s assets or guarantees from another company may be required as collateral.
In certain cases you can also secure the loan with a guarantee from EIS (the Estonian Business and Innovation Agency, formerly KredEx) or Maaelu Edendamise SA (the Rural Enterprise Foundation).
It usually takes 3-5 working days to process an application, depending on the type of loan and how thorough the documents are that were submitted.
No – unfortunately, Coop Pank is unable to grant business loans to new companies. In order to apply, a company must have been operating for at least two financial years. However, You may explore the possibilities of our small loan for starting enterpreneurs.