Simpler and faster financing: kompasbank welcomes new EIFO initiative

EIFO is today launching a new self-service guarantee product that removes the need for heavy manual processes. As a dedicated business bank, kompasbank sees this as a natural opportunity to make access to financing even easier for Danish SMEs.

Small and medium-sized businesses across Denmark are now set for a smoother financing process. This follows EIFO's launch today of the "Self-Service EIFO Guarantee," which replaces the previous Growth Guarantee.

The new product cuts out unnecessary bureaucracy by allowing banks to draw a guarantee of up to DKK 2 million and have a policy issued within days. Coverage is also raised to 80%, and the previous portfolio requirement is removed — making the process faster and more predictable for each individual case.

Speed is a core priority

As a dedicated business bank focused on SMEs, kompasbank has built a reputation for making financing more accessible for exactly this segment. Chief Commercial Officer Henrik Larsen sees the new EIFO product as a direct extension of the bank's existing focus on speed and simplicity:

"SMEs make up 99.7% of Danish business, and they are tired of being fobbed off with slow processes and expensive solutions built for large corporations. At kompasbank, we exist to do the exact opposite. We already give SMEs access to financing far faster than they are used to — and with the new self-service guarantee from EIFO, we can now help businesses put their foot on the accelerator in the application process itself."

The guarantee goes to the front line

One of the biggest improvements with the new product is the ability to get quick clarity. Previously, coverage in individual cases could vary, but with a fixed coverage level it becomes much easier to factor into the credit process. This fits naturally with the way kompasbank works, explains Henrik Larsen:

"It's a huge win that our client managers can now literally carry a state-backed guarantee in their pocket straight to the customer. It removes the heavy manual steps and the red tape that previously made it hard to move quickly. When we make financing this simple and accessible, we genuinely help the businesses driving Denmark forward turn their ambitions into reality."

With the new Self-Service EIFO Guarantee, EIFO expects the product to reach broader adoption and double the number of guarantees issued — an ambition that kompasbank is committed to supporting through a focused effort targeting Danish SMEs.

Looking for faster access to financing? Book a meeting with us today. kompasbank collaborates with EIFO to make financing simpler and faster for Danish SMEs — and today, that collaboration takes a significant step forward with the launch of the new self-service guarantee. Read more about the new guarantee here.