KfW Group and GRENKE sign global loan agreement for EUR 100 million to promote SMEs

• From January, SMEs can benefit from attractive leasing conditions for new corporate acquisitions
• Partnership between KfW Group and GRENKE provides access to funds throughout Germany
• With the global loan, KfW Group and GRENKE are expanding their existing partnership in the field of start-up finance

Baden-Baden / Frankfurt am Main, 20 December 2016: Today, KfW Group and GRENKE AG have signed a global loan agreement for lease finance with a volume of EUR 100 million at KfW's offices in Frankfurt am Main. This allows SMEs, the self-employed and start-ups throughout Germany to benefit from the attractive leasing conditions being offered by GRENKE AG and KfW for new acquisitions.

Wolfgang Grenke, CEO of GRENKE AG: “Working with SMEs is in our DNA. We have offered attractive financing in this segment since 2010 using promotional vouchers, and have concluded around 21,000 lease agreements. We are very happy to now be able to offer this expertise to SMEs throughout Germany.”

Dr Ingrid Hengster, member of KfW's Executive Board: “The global loan to GRENKE will allow more than 10,000 SMEs throughout Germany to benefit from KfW funding for their commercial lease finance arrangements. In addition to traditional bank loans, business owners can now also choose between credit financing and leasing for smaller investments too – and all at KfW's favourable interest rates.”

The process is simple. Business owners receive a “promotional voucher” directly from GRENKE. They fill it out and submit it to GRENKE AG together with the lease application. The conclusion of the lease agreement redeems the promotional voucher and the individual promotional sum (depending on instalments and maturities) is credited to the leasing client in advance and as a single lump sum. Companies and freelancers based in Germany with annual turnover of up to EUR 500 million qualify for promotion. Acquisitions for private purposes do not qualify for promotion.

GRENKE Group

GRENKE Group is a broadly diversified provider of efficient services in the fields of small-ticket IT leasing, factoring and banking services for small and medium-sized enterprises. GRENKE Bank also offers traditional web-based services to private clients.

GRENKE Group, which is independent of particular banks or manufacturers, plays a leading role in Europe in the field of small-ticket IT leasing for products such as PCs, notebooks, copiers, printers and software with relatively low asset values. GRENKE Group operates in 30 different countries and employs more than 1,100 people.

GRENKE AG is listed in the Prime Standard segment of the Frankfurt Stock Exchange, and is included in the SDAX. GRENKE AG's shares are listed on the Frankfurt Stock Exchange with the symbol GLJ, ISIN DE000A161N30.

You can find out more about GRENKE AG and its products on the Internet at www.grenke.de

KfW Group

KfW is one of the world’s leading promotional banks. With decades of experience, KFW works to improve economic, social and ecological living conditions around the world on behalf of the German Federal Government and Germany's individual federal states. To do this, it provided funds totaling EUR 79.3 billion in 2015 alone, and of this, 37% went towards measures for protecting the environment and combating climate change. It funds its promotional business almost entirely through the international capital markets. In 2016, KfW borrowed around EUR 72 billion on the capital markets for this purpose.

You can find out more at www.kfw.de