Things to consider when applying for a loan with Almi

Overall assessment

To process your loan application, you’ll need to answer a few questions – this is part of what’s known as customer due diligence. Once we have enough information, we’ll make an initial overall assessment of your application. This usually takes about a week, and then we’ll get back to you.

If your company has completed an annual financial statement:

• Attach a financial report or budget (mandatory)
  - Include the most recent audited annual report, or the income and balance sheet report for the corresponding accounting period.
• Interim figures (optional)
  - Provide income and balance sheet reports for the current fiscal year to help us understand how your company is developing.
• Budget (optional)
  - A forward-looking budget helps us assess your financial outlook:
  Income and balance sheet budget for the current and at least one upcoming fiscal year
  - Liquidity budget (not mandatory but may be requested during the credit process)

If the company is newly established or in startup phase:

• Submit a budget for the current and at least one upcoming fiscal year.

Almi offers budget templates (in Swedish) you may use, but it is not required.

If the loan application concerns an innovation, no financial reports are required.

• Total capital need
• Desired loan amount
• Description of how the capital need will be financed
• Purpose of the loan
• Whether your company already has a contact at Almi
• Legal gender of the company’s main operational manager
• Ownership structure

If you already have a loan with Almi, describe briefly what has happened in your company since your last contact with us.

If this is your first loan with Almi, you’ll need to answer a few more questions.

These help us speed up the process and prepare better for our meeting with you.

Questions you need to answer

Do your best to answer the following questions:

• Business description
  Describe your company’s background, operations, number of employees.
  How long have you been in business? What are your strengths? What challenges do you face?
• Business model
  How do you create value?
  What do you sell – a product or service? How do you charge for it?
• Market
  What geographic area and/or sector do you operate in?
• Customers
  Who are your customers? What is your target group?
• The entrepreneur/team
  Describe your team and how you complement each other.
  What previous experience do you have in running a business, and in which industry?

You can also attach your business plan – optional

An innovation is something not yet available on the market – for example, a new product, service, process or technology.

Together with an Almi adviser, you’ll go through the application and follow up if anything needs to be added.

Questions you’ll need to answer:

Try to answer as best you can.

• What customer need does your product or service address?
• How did you identify this need?
• Who has this need?
• How is the problem currently being solved? (2–3 examples)
• What makes your idea unique?
• Who came up with the idea?

1. Submit your loan application
2. Complete the Customer Due Dilligience form
   To process your loan application, you’ll need to answer a set of questions – this is called customer due diligence.
   Currently, the loan application and the customer due diligence form are two separate online services. Both need to be completed and submitted on the same day. Once that’s done, your loan application is complete.
   We may contact you if we need any additional information.

3. Why does Almi ask these questions?

   Almi AB works with business development, financing and venture capital.
   We are supervised by the Swedish Financial Supervisory Authority and must comply with the anti-money laundering legislation (AML).

   According to the Anti-Money Laundering and Terrorist Financing Act (2017:630), Almi is required to perform customer due diligence checks in all business relationships.

4. Once your application and customer due diligence form have been received

   We’ll begin processing your case.

5. Then we’ll contact you.

6. Added value when borrowing from Almi

   Sustainability is crucial for any business that wants to remain relevant in the future.
   When you borrow from Almi, we can review your sustainability efforts and discuss risks and transition needs.
   You’ll also have the opportunity to receive financial advice to gain better insight into your company’s profitability and potential.

7. Decision

   As soon as your case is decided, you’ll receive a notification.
   Due to a high volume of applications, we process all cases as quickly as possible.
   To help speed things up, make sure to complete all required sections and attach the requested documents.

Would you like to speak with one of our advisers to discuss your business and find the best solution for you?

Fill in the form below and we’ll get back to you shortly to book a meeting – either online or in person.