Open for applications for support loans and supplementary loans
We are now open for applications for support loans and supplementary loans for companies. More detailed information regarding resources for companies who suffer the effects of the Covid-19 pandemic can be found on the bank's website.
Companies who do business with Landsbankinn are offered various resources to address effects which they may suffer due to Covid-19. We encourage our customers anticipating budgetary difficulties to contact the bank as soon as possible to find solutions and get consultation that is appropriate to their needs.
Solutions for your company
Support loans are suitable for smaller and medium-sized companies that have suffered a great reduction in income due to the pandemic. The amount of support loans can be equivalent to up to 10% of revenues in the business year of 2019. The state guarantees support loans of up to ISK 10 million and 85% of the amount in excess of ISK 10 million, to a maximum of ISK 40 million.
Supplementary loans are intended for companies that have suffered significant loss of income due to the epidemic. They are most suitable for average and large companies, and can be for an amount of up to ISK 1,200 million. The state will guarantee up to 70% of the loan.
Subsidies for companies that have to close
Companies that are required to close for business due to the ban on public gathering can apply for a subsidy from the state.
Temporary deferral of payment
Companies can apply for a deferral of payments on loans for up to six months from the bank with which they do most of their business. However, deferral of payment can last for no longer than until the end of the year 2020.