Guarantors and banks

Loans from Export Credit Norway must be guaranteed by the Norwegian Guarantee Institute for Export Credits (GIEK) and/or financial institutions. This means that the guarantors will compensate Export Credit Norway for any losses arising in a situation where the borrower is unable to service the loan. The borrower will need to pay a guarantee premium to the loan guarantors in return for their assumption of this risk. The guarantors must have a long-term credit rating of at least BBB, and be approved by Export Credit Norway.

GIEK

The Norwegian Export Credit Guarantee Agency (GIEK) is a public enterprise under the Ministry of Trade, Industry and Fisheries (MTIF), and issues guarantees on behalf of the Norwegian state. Our guarantees are adapted to the needs of Norwegian export companies and foreign buyers, covering both political and commercial risk on loans issued by commercial banks or Export Credit Norway.  Guarantees can be provided where Norwegian goods or services are delivered abroad, or where an export transaction in some other way promotes Norwegian value creation.

Norwegian guarantees mean a high degree of security for exporters as well as banks. Our guarantees increase the competitiveness of Norwegian goods and services in the international market.

Export contract totalling less than NOK 100 million?

Then you may offer your buyer to purchase your goods or services on credit. Up to 90 per cent of the amount will be covered by GIEK and disbursed by Export Credit Norway. Your buyer will redeem the 90 per cent to Export Credit Norway and the remaining 10 per cent to your business, with interests.

See more details

Bank

As a borrower, you also have the opportunity to choose a commercial bank as guarantor. The bank must have a long-term credit rating of at least BB, and be explicitly approved by Export Credit Norway.

 

GIEK

The Norwegian Export Credit Guarantee Agency (GIEK) is a public enterprise under the Ministry of Trade, Industry and Fisheries (MTIF), and issues guarantees on behalf of the Norwegian state. Our guarantees are adapted to the needs of Norwegian export companies and foreign buyers, covering both political and commercial risk on loans issued by commercial banks or Export Credit Norway.  Guarantees can be provided where Norwegian goods or services are delivered abroad, or where an export transaction in some other way promotes Norwegian value creation.

Norwegian guarantees mean a high degree of security for exporters as well as banks. Our guarantees increase the competitiveness of Norwegian goods and services in the international market.

Export contract totalling less than NOK 100 million?

Then you may offer your buyer to purchase your goods or services on credit. Up to 90 per cent of the amount will be covered by GIEK and disbursed by Export Credit Norway. Your buyer will redeem the 90 per cent to Export Credit Norway and the remaining 10 per cent to your business, with interests.

See more details

Bank

As a borrower, you also have the opportunity to choose a commercial bank as guarantor. The bank must have a long-term credit rating of at least BB, and be explicitly approved by Export Credit Norway.