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COVID-19 EU PolicyWatch

Database of national-level responses

Eurofound's COVID-19 EU PolicyWatch collates information on the responses of government and social partners to the crisis, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.

Factsheet for case FI-2020-16/1235 – measures in Finland

Tesi’s stability programme for medium-sized companies

Tesin vakautusrahoitus keskisuurille yrityksille

Country Finland , applies nationwide
Time period Temporary, started on 14 April 2020
Type Legislations or other statutory regulations
Category Supporting businesses to stay afloat
– Access to finance
Author Amanda Kinnunen (Oxford Research) and Eurofound
Case created 05 October 2020 (updated 06 October 2020)

Background information

In order to prevent bankruptcies among viable medium-sized businesses in a turbulent market situation, the state-owned investment company Finnish Industry Investment Ltd Tesi (in Finnish ‘Suomen Teollisuussijoitus Oy’) launched a funding programme in April 2020. The aim is to offer a faster track to helping businesses coping with liquidity crisis.

Content of measure

This measure is available for companies that:

  • that had sales of at least €10 million in 2019;
  • employ over 50 people in Finland;
  • were profitable before the COVID-19 crisis and whose profitability in the future seems likely (e.g. positive EBITDA in 2019);
  • were not over-indebted before the COVID-19 crisis; and
  • whose financial position has been substantially affected by the COVID-19 crisis.

Tesi makes stability investments either as an equity investment or as a convertible loan.

The size of the investments varies between €1 million and €10 million.

The total budget of this measure is €150 million.

Use of measure

At the end of August 2020, in total 39 applications had been sent to Tesi.

The number of granted applications was 10. Four of these applications came from companies registered in the manufacturing sector and three from companies registered in the information and communication sector.

The total budget of the granted applications was €54 million.

Target groups

Workers Businesses Citizens
Does not apply to workers SMEs
Does not apply to citizens

Actors and funding

Actors Funding
National government
National funds

Social partners

Social partners' role in designing the measure and form of involvement:

Trade unions Employers' organisations
Role Unknown Unknown
Form Not applicable Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

  • Unknown
  • Main level of involvement: N/A

Involvement

No information available.

Views and reactions

No information available.

Sources

Citation

Eurofound (2020), Tesi’s stability programme for medium-sized companies , case FI-2020-16/1235 (measures in Finland), COVID-19 EU PolicyWatch, Dublin, http://eurofound.link/covid19eupolicywatch

Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process. All information is preliminary and subject to change.