Holm Bank AS, based 100% on Estonian capital, started providing services on the Latvian and Swedish markets. In Latvia, Holm offers hire-purchase services, hire-purchase cards, and consumer loans under its own brand, and on the Swedish market, the company is launching a digital credit card solution as its first service.
Holm Bank AS, which expanded to Sweden during the crisis, has grown its portfolio significantly.
November is the high season of budgeting and a lot of companies are currently considering their investment needs for the following year and options for getting financing. According to Aron Jäger, Financing Business Manager of Holm Bank, this is the reason for why the number of companies applying for a business loan has significantly increased over the last months.
As the amount of the monthly interest payment for a limit loan depends on the part of the loan that has been used, companies engaging in the smart management of cash flows can – in comparison with a regular business loan – achieve significant interest-related cost savings with a limit loan, explains Aron Jäger, B2B Financing Business Manager at Holm Bank.
According to Aron Jäger, B2B Financing Business Manager at Holm Bank, small businesses have not lost interest in tackling larger-scale investment projects despite the current difficult economic conditions. In order to encourage companies to implement development projects with a longer payback period, Holm offers companies a loan secured by real estate, i.e. a mortgage loan, with a more favourable interest rate than a traditional small loan and a repayment period of up to 10 years.
National crisis response measures are a great help to many companies all over Estonia, but more and more companies still face a problem where they do not qualify for grants due to the size of the company, business prospects in the coming months, or other business specifics.