EUR 20 million in additional development loans for small and medium-sized enterprises – NRW.BANK and GRENKE BANK AG launch tenth global loan

EUR 20 million in additional development loans for small and medium-sized enterprises – NRW.BANK and GRENKE BANK AG launch tenth global loan

Baden-Baden/Dusseldorf, June 14, 2022: Self-employed professionals and small and medium-sized enterprises (SMEs) in North Rhine-Westphalia can lease their new business purchases once again using development funds at favourable terms. This has been made possible by GRENKE BANK AG and NRW.BANK through their provision of another global loan of EUR 20 million, which is the tenth global loan since 2010 and the first since the start of the corona pandemic.

"Our global loan secures favourable leasing terms for the business purchases of self-employed professionals and SMEs in NRW," says Michael Stölting, member of the Managing Board of NRW.BANK. "As the state development bank for North Rhine-Westphalia, we support SMEs and self-employed professionals in NRW in all financing matters."

Helge Kramer, GRENKE BANK AG's member of the Board of Directors for the Markets business unit, explains: "We are extremely pleased with this anniversary celebrating twelve years of successful cooperation marked by our tenth global loan with NRW.BANK. This loan enables us to offer small and medium-sized enterprises favourable, demand-based financing options in a fast and uncomplicated manner."

Those eligible for funding include commercial enterprises and self-employed professionals based in NRW with annual sales of up to EUR 500 million. Private purchases are excluded from the promotion. Self-employed professionals receive promotion vouchers from GRENKE, which are to be completed and submitted to GRENKE with the lease application. When the lease contract is concluded, the promotion voucher can be redeemed and the individual amount, which depends on lease instalments and terms, is credited as a lump sum payment to the lease customer in advance.

For more information, please visit www.grenke.com or www.nrwbank.de/en/.

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About GRENKE

The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE’s products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE’s activities. Founded in 1978 in Baden-Baden, the Group operates in 33 countries and employs more than 1,800 staff (measured in terms of full-time equivalents) worldwide. GRENKE shares are listed on the Frankfurt Stock Exchange (ISIN DE000A161N30).

About NRW.BANK

NRW.BANK is the promotional bank of North Rhine-Westphalia (NRW). Its mission is to support its owner – the state of North Rhine-Westphalia – in the completion of its structural and economic policy tasks. In its three promotional fields “Economy”, “Housing” and “Infrastructure/Municipalities”, NRW.BANK uses a wide range of promotion tools – from low-interest promotion loans to equity financing to advisory services. It cooperates with all banks and savings banks based in NRW on a competition-neutral basis. NRW.BANK takes into account the existing offers by the Federal Government, the North Rhine-Westphalian government and the European Union in the arrangement of its promotion.