Authorizations, exposure, and country export data

• Eligibility: Estonian companies selling goods, services, or raw materials
• KredEx covers up to 85% of the entire turnover or sales to agreed-upon export destinations
• Tenor: Up to 24 months (typically 1–3 months)
• Requirements:
• Policy holder must be a legal, registered Estonian entity
• No restriction of buyer’s country, including Estonia
• Lender insures itself against non-payment by foreign buyer of Estonian exporter for period exceeding 2 years and up to 5 years for buyers in OECD countries
• Cover:
• Up to 90% for commercial risks
• Up to 100% for political risks
• Sales turnover insurance: Covers all or most of a company’s sales transactions with buyers in Estonia and abroad
• Optional risk insurance: Covers company’s various sales transactions with buyers in Estonia and abroad (most sales remain uninsured)
• Single risk insurance offered based on sales turnover or on defined limit

• Insurance used by exporters of capital and durable goods who would like to provide longer payment terms to buyers
• Tenor:
• Up to 5 years for a debtor in a High Income OECD Country
• Up to 10 years for a debtor elsewhere
• Cover of up to 95% of export credit
• Requirements:
• Prepayment of at least 15% of export value
• Repayment in equal semi-annual installments
• Business loan guarantee: Provided when a company chooses to use a bank loan, leasing or bank guarantee, but lacks sufficient guarantees or operating history
• Requirements:
• The entrepreneur is creditworthy
• The equity of the entrepreneur meets the requirements established in the Commercial Code
• The entrepreneur has no overdue credits

• Insurance to loans used to finance exports of Estonian goods and services
• Tenor:
• Up to 5 years for a debtor in a High Income OECD Country
• Up to 10 years for a debtor elsewhere
• Requirements:
• Prepayment of at least 15% of export value
• Repayment in equal semi-annual installments
• Insurance cover is generally 90%
• Insurance also covers the interest under an export or credit contract, calculated for up to 120 days.

• Medium and long-term financing to Estonian exporters provided by KredEx, the Estonian development bank
• Requires commercial and political risk insurance placed with KredEx Krediidikindlustus and endorsed to KredEx, starting on the date of delivery of goods to the foreign buyer
• Typically for larger-scale export transactions for goods manufactured in Estonia
• Ineligible transactions:
• Companies operating in agriculture, fishery and forestry, except for activities related to agricultural products and wood processing
• Weapon and tobacco industry
• The owners of the company include companies registered in low tax rate territories
• A company in difficulty
• Tenor: 2–10 years
• Amount: Up to EUR 3 million per foreign buyer
• Fees:
• Contract fee of 1% of loan amount, up to a maximum of EUR 10,000
• Interest rate is comprised of cost of funds + risk margin + country-risk of buyer’s country
• Loan amendments of 0.2% of the loan balance

• Investment insurance: For exporters and banks financing to protect direct investments into foreign countries
• Tenor: 3–15 years
• Coverage: Up to 100%; political risk only
• A contract application must be filled out and sent to a KredEx customer account manager before making an investment
• Production risk insurance: Provided to an enterprise wishing to insure itself against possible insolvency of a buyer
• Production risk insurance: Provided to an enterprise wishing to insure itself against possible insolvency of a buyer
• Coverage: Up to 85%
• Venture capital: In order to help Estonian start-up companies and well-established and fast-growing companies expand and finance their growth, KredEx provides venture capital through funds of funds
• KredEx also provides start-up loans, business loan guarantees, technology loans, and capital loans for businesses and individuals

• KredEx will not compensate for:
• Contractual penalty and fines for delay
• Transaction interest over 15% per year
• Service fees
• Costs associated with claims of loss submitted to insured by third persons
• Cost from currency exchange rate differences
• Translation costs

• 2024: The number of payment defaults and bankruptcies of foreign partners increased in 2023

• 2022: Enterprise Estonia and KredEx merged at the beginning of 2022, and the legal name of the new organisation is the Estonian Business and Innovation Agency