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Export credits

Swedish exporters can strengthen their competitiveness by offering their foreign customers financing in connection with the sale of their products or services. SEK offers export credits at both fixed and floating interest rates.

Usually, three parties are involved in the transaction: SEK as the financier, the Swedish Export Credit Agency (EKN), who insure the exporter against the risk of not receiving payment, and one or more commercial banks, who arrange the transaction and cover the part of the risk that is not covered by EKN.

Offering your customer financing at a fixed interest rate (CIRR)

As an exporter, you can provide your customer a fixed interest offer (CIRR), which can be valid up to 12 months subject to SEK’s approval. During this period, the financial contract between the borrower and the arranging bank must be signed. The applicant has the choice to lock in the rate in connection with the signing of the financial contract.

It’s an advantage for the exporter and the exporter’s customer to know what the interest expense may be. If market interest rates rise during the negotiating period, the CIRR offer may become very attractive and provide exporters with additional support in winning an export order. If interest rates fall, the exporter’s customer can choose to finance at market interest rates instead.

Apply for export credit financing

An application for a CIRR must be filed before the commercial contract is signed between you and your customer. You can apply as both an exporter or a bank. The application does not cost anything, and no further charges arise if you ultimately decide against a CIRR.

Unless otherwise agreed, SEK offering for floating interest or CIRR is regulated by SEK General Terms. Find out more in General Conditions.

Download an application here

Find out more about the Swedish Export Credit System.