the World Bank has ranked Denmark as Europe’s best country for business for 7 years in a row, that tells you something about the great entrepreneurial environment that this Nordic country managed to create. Denmark is ranked top 3 in the World Bank’s “Ease of Doing Business Index” and that places the country in front of every other Nordic country. However, everything is not all peaches and cream, getting hold of business loans or other credits are considerably harder for Danish entrepreneurs and companies compared to many of the other top ranked countries in the index. Still, it’s much easier to get hold of a business credit in Denmark compared to either of their Scandinavian neighbors; Norway or Sweden.
Obtaining a bank loan for your business can be quite a hassle, Danish banks normally are not willing to lend money to new firms or startup projects as they consider them to be high risk with low reward. If you still decide to apply for a bank loan, you should make sure to come well-prepared and be able to submit a great business plan.
There are other alternatives, should your application not be successful. A fair amount of smaller loan companies in Denmark offers a variety of business financing possibilities. Independent loan companies with business offers are mainly focusing on small to midsize companies in need of capital .
Another ever growing market is the one of peer-to-peer loans. In Denmark there are a couple of platforms for business finance through crowdfunding, of which the most prominent are Flex funding and Lendino.