In recent years, banks in Finland have become increasingly cautious about lending to Finnish startups, entrepreneurs and small to midsize companies. Ironically, these kinds of businesses usually are the ones most in need of financial capital. Banks rejecting loan applications could have been a real problem, had it not existed any alternative, luckily there are a ever growing number of financial companies offering primarily smaller business loans in Finland.
Compared to the other Nordic Countries Finland has got a quite large alternative financial market, dwarfing the others both in volume per capita and total volume (which is almost twice the size the second largest Nordic alternative finance sector Denmark). The crowdfunding market is regulated by the Finnish Crowdfunding Act (734/2016) since 2016, the act has helped the sector mature and is is expected to keep growing even further. At this point of time most of the peer-to-peer loans in Finland are consumer loans however some financial companies like Fellow Finance also promote business loans.