Changes to the terms for existing startup loans
On this page, you will find information about the changes you can apply for and the applicable requirements. This applies to all startup loans, regardless of the approval date. For loans approved before 15 May 2023, you must first convert the loan into a repayment loan before you can apply to change other terms.
For loans secured by a personal guarantee, the guarantor must consent to the change. You must therefore provide the guarantor's email address when applying to change the terms. We will notify the guarantor of our decision. The decision will only take effect once the guarantor has given their consent.
Please note that a fee of NOK 1,250 applies when a change is approved.
What is required
You can apply to defer payment for one instalment. You can do this on My page under ‘Manage your loans, grants and financial guarantees’. Select ‘Apply for a deferral or change of terms’.
You must apply for a payment deferral before the instalment due date. If approved, payment will automatically be deferred for up to three months from the instalment due date. Notifications and reminders for the relevant instalment will be paused until the new payment date, while standard notifications for future instalments will be sent as usual.
A payment deferral is a temporary postponement of one instalment and does not extend the term of the loan. Late-payment interest accrues from the original instalment due date until payment is made, in accordance with the loan terms. This applies regardless of whether we process your application for a payment deferral before or after the instalment due date.
Submit your application for a repayment deferral via My page. You will find this option under ‘Apply for a deferral or change of terms’ for the relevant loan.
You must submit your application before the instalment is due. If the instalment is already overdue, ‘Application for payment deferral’ will not appear in the overview. In such cases, your company must pay the overdue instalment before applying to defer payment of the next instalment.
In the application, your company must explain why it needs a repayment deferral. Describe the cause of the cash flow challenges, why you consider them temporary, and the measures you have taken to ensure that your company can service the loan after the deferral period.
There are two ways to apply:
Fast track
Your company can apply for a six-month deferral of repayments through a simplified fast-track process. You can use this option once per loan.
Standard application
You can apply to defer repayments for up to one year at a time.
The total term of a startup loan, including payment deferrals and any extension of the loan term, cannot exceed eight years. Once this limit has been reached, no further payment deferrals can be granted.
Companies granted a repayment deferral on a startup loan must accept that the repayment frequency will change from quarterly to monthly payments. The company will receive an updated repayment schedule.
Companies with startup loans can apply to extend the loan term by up to one year at a time, even if they do not need a repayment holiday. The total loan term must not exceed eight years, including any repayment holiday.
For companies granted an extension to the loan term, repayments will change from quarterly to monthly.
Submit your application to extend the loan term via My page. You will find this option under ‘Apply for a deferral or change of terms’ for the relevant loan. Select ‘Change of terms’. Please note that the guarantor must consent.
You can apply to change your startup loan from quarterly to monthly repayments. The current repayment fee is NOK 100. Send your application to change the repayment frequency to kundesupport@innovasjonnorge.no.
We do not grant any further interest-free periods beyond the first two years, nor do we allow interest to accrue.
Startup loans can be transferred to a new borrower if the loan has been fully or partially disbursed. If the loan has been partially disbursed, the remaining undisbursed amount will be cancelled, and only the disbursed amount will be transferred to the new borrower.
The new borrower must submit the application to transfer the loan. The original borrower remains responsible for the loan until the change of borrower has been formally completed.
Please use this form: Application to transfer a loan to a new borrower
A change of debtor may be made in connection with an acquisition, merger or transfer of the company or its assets to a new organisation number. In such cases, we do not consider the age of the new borrower, but assess their ability to repay the loan.
For loans secured by a guarantee, the guarantee must continue to provide adequate security for the loan. This may be provided by existing guarantors or new guarantors who meet the requirements and are resident in Norway.
Before the change of debtor can be completed, all necessary loan documents, collateral and any guarantees must be in place. All conditions set out in our decision must be met, and all interest, instalments and costs relating to the loan must be up to date. We will normally set a deadline for meeting the necessary conditions and security requirements.
Loans that have not been disbursed cannot be transferred to a new borrower. In such cases, the current borrower must notify us that the loan can be cancelled. The company taking over may then apply for a new startup loan in its own right. A new borrower must meet the requirements of the scheme.
The application to change the debtor (from the new debtor) should be sent to vedlikeholdssenter@innovasjonnorge.no.
If a payment is more than 90 days overdue, we will refer the case to our debt collection agency for follow-up and send a copy to the guarantor.
The account will be restored to good standing once the arrears have been paid.
Voluntary winding-up of companies with startup loans requires the loan to be repaid in full.
When you apply for an out-of-court debt settlement, we follow our standard procedures.
When we are notified of a bankruptcy, we follow up claims against the bankruptcy estate.
If the loan is secured by a guarantee and the guarantor is unable to pay the full guaranteed amount in one payment, the guarantor may be offered a repayment plan. In this case, the guarantor must get in touch before the payment deadline. If the guarantor does not pay by the due date, our debt collection agency will take over the case.
Startup loans granted before 15 May 2023 can be converted into repayment loans. These loans were interest-free and required no repayments for the first two years. From year two to year four, interest is payable quarterly, before the full loan becomes due for repayment after four years.
The loan can be converted into a repayment loan with a two-year term and monthly repayments.
You must have repaid 20 per cent of the original loan amount before submitting your application. If the loan is secured by a guarantee, the guarantors must consent to the extension of their liability by signing the application.
You can submit your application once you have received the invoice from us for repayment of the loan. Use the KID number on this invoice to pay 20 per cent of the loan, plus interest and charges.
Send the completed application to vedlikeholdssenter@innovasjonnorge.no.