New Partnership: SMVdanmark and kompasbank join forces to support SMEs

The more than 18,000 members of SMVdanmark can now look forward to faster and easier access to business loans through a new partnership between the business organization and Denmark's newest business bank, kompasbank, which is focused on providing tailored financing solutions for small and medium-sized enterprises (SMEs).

SMVdanmark and kompasbank share a common mission in many areas when it comes to creating the best growth and development opportunities for Danish SMEs. The two SME-focused organizations are now joining forces to offer faster and more streamlined access to financing for growth initiatives, green transitions, and business loans for operational efficiency and bulk purchases for SMVdanmark's members.

"SMEs' conditions are constantly being challenged and changing, and if a company doesn't have a very solid capital base or large liquidity available, they risk having to put one or more good initiatives on hold. Right now, we see that many of our members are being challenged by high inflation and long payment terms, and they are therefore forced to draw on expensive overdrafts just to keep things running," says SMVdanmark's Director, Jakob Brandt, and continues:

"But we also see that many companies are currently being held back in their plans with otherwise good and sound investment cases. It's unfortunate, and that's why the timing of the new partnership with kompasbank couldn't be better, as it provides our members with easy access to more financing sources."

High Financing Needs Among SMEs

kompasbank's mission is to help small and medium-sized enterprises reach their full potential. This is primarily achieved by providing them with strong balance sheets and improved opportunities to invest in their own businesses through easier access to financing.

"SMEs create the majority of growth and job creation in society, and we are very pleased that with this new partnership, we can help SMVdanmark's members strengthen their liquidity and give their growth ideas the boost they need. We help companies increase their competitiveness and achieve their growth ambitions, and this new partnership ensures that we are even more in tune with the needs and ambitions of Danish SMEs," says Henrik Larsen, Director of Business at kompasbank, and elaborates:

"We are seeing across the board that Danish SMEs are being forced to drop ambitious growth initiatives or are being compelled to lower their goals because they don't have sufficient access to financing. This is ultimately detrimental not only to the businesses but also to the economy and job creation, as it stifles the realization of their potential. Although 2023 may look challenging, it's during such periods that market share can be captured."

kompasbank operates as a company's secondary bank, meaning that a company does not need to change banks to establish a new financing partnership with the new business bank.

Book a meeting with one of our business customer managers and learn how we can help your company move forward here.