Short-term financing - factoring
In Sweden, factoring companies make credit available through accounts-receivable financing as soon as they receive the customer invoices.
“In Sweden commercial banks provide loans to larger companies and niche banks lend to smaller firms. Such credits have typically been secured with real estate, inventory or other property.
The Export Credits Guarantee Board (EKN) offers long-term financing; Svensk Exportkredit handles short-term financing.
As expected, Sweden’s central bank has reduced interest rates by 0.25 percentage points to the lowest level since the end of WWII.
Sweden delivered a crushing rejection of the single currency yesterday (14 September), turning its back on closer integration with Europe and dealing a savage blow to its own leaders.
The National Institute of Economic Research reports that the Swedish economy is continuing its gradual recovery. Gross domestic product is forecast to increase by 1.3 per cent this year, 2.5 per cent in 2004, 2.7 per cent in 2005.
The Riksbank, Sweden's central bank, surprised financial markets yesterday morning by lowering its key rate for the second time in less than a month, writes Nicholas George in Stockholm.
The planned merger between SEB and FцreningsSparbanken, two of Sweden’s largest banks, has become unviable as a result of concessions demanded by EU rules.