Changes in the project
Even a well-planned project may need changes along the way: a new person is appointed in charge, more time is needed, tasks planned for internal execution have to be purchased from an external supplier, etc. Contact us in advance to find out if such changes require the approval of Tekes or if you can simply notify us of them.
Discuss the need for changes with your project officer
During the project, you may need to change your plans. If you see a need for changes, contact your project officer. You will need the prior approval of Tekes for changes such as the following:
- significant changes in the project plan
- changes in cost categories
- changes in schedules
- changing your reporting date
- changing the accountable project leader
- changes in your bank details
The general terms and conditions for funding list the changes for which a simple notification to Tekes is sufficient.
In some cases, the project can be transferred to another party. Contact a Tekes expert well in advance. The company to which you wish to transfer your project will be subject to the same evaluation process as companies applying for new funding.
Amendments to loan terms
You can apply for amendments to your loan terms, for example if the results of the project can only be used significantly later than planned. Instructions for applying for loan amendments are available in the document “Information on grants and loans” in the right-hand panel.
The maximum loan period is 20 years, of which a maximum of 10 are amortisation-free. Waiving repayment may be considered in exceptional cases if the project fails.
You must complement your loan amendment application with a calculation. You can see a sample calculation on the right (in Finnish).
Repayment of the loan cannot be waived for the following reasons:
- the company has not repaid a loan due for payment and has not made or adhered to a payment plan
- the company has tax arrears, for which it has not made or adhered to a payment plan
- the company is unable to conduct continuous or profitable business
- the company is unable to repay any nominal remaining capital
- it is too early to assess whether the project is a financial failure (loan period can possibly be extended)
- the company has not decided to stop using the results of the project (e.g. the developed product is still being marketed, or the company has not waived its industrial property rights on the results developed in the Tekes project)