Promotional programmes
Competitiveness Programme
ERDF Promotional Programme for Improvement of Competitiveness of Businesses
(Nr.X 399/2009)
The programme grants loans to the businesses registered in Latvia with economically feasible business plans which cannot access the financing of the credit institutions due to increased risks they present.
The programme grants working capital loans and investment loans, the total loan amount per one entrepreneur may not exceed LVL 7.5 mln. Mostly, the loans are intended for the projects of the manufacturing branches’ businesses and entrepreneurs attracting the financing of the EU Structural Funds’ grant programmes.
The programme having ERDF co-financing was launched in May, 2009. Alongside the public and bank’s financing also the loan resources (with a state guarantee) of the Nordic Investment Bank (NIB).
Start Programme
ESF programme "Support to Self-employment and Business Start-ups"
Population of giving age, including the unemployed, wishing to start-up a business or self-employment, including newly established businesses, are eligible to support from this programme. In the context of the programme a newly established business is an entrepreneur having registered according to the law not earlier than 3 years before requesting support from the programme.
The programme foresees that Hipotēku banka will: 1) provide training on the basics of the economic activities and drafting of business plan to people determined to start a business and requiring such training; 2) consult on the available support, review the business plans; 3) grant loans for implementation of the economic activities described in the business plans of the business start-ups (up to 54 thousand lats), as well as give grants for sustaining of the economic activities (35% of the granted loan amount, but not more than 3,6 thsd lats) and redemption of the loan (20% of the granted loan amount, but not more than 2 thousand lats).
The programme was launched in August, 2009. ESF co-finances the programme.
Other current programmes:
Besides EU Structural funds programmes ALTUM in co-operation with the branches of Hipotēku banka implements following other loan programmes:
Micro Credit Programme of Latvian SME's
Working capital loan programme for agriculture
On promotional programmes implemented by ALTUM in the past, see information here