About programme
- Altum
- Loans to businesses
- Competitiveness programme (ERDF)
- About programme
Competitiveness Programme
ERDF Promotional Programme for Improvement of Competitiveness of Businesses (No X 399/2009)
The programme grants financing to small, medium and large companies with economically feasible business plans which cannot access the financing of the credit institutions due to increased risks they present.
The entrepreneurs are offered two types of loans – investment loans and working capital loans (including credit lines).
No loans are granted for:
- refinancing of the existing loans;
- acquisition of company shares.
Small and medium companies must involve in the capacity of guarantors the companies’ owners possessing at least 10% of shares. Large companies must put in pledge at least 75% of the company’s shares or provide a guaranty issued by the company’s owners possessing at least 10% of shares.
The fixed assets to be purchased must be new, except for cases when the recipient of the loan is a small or medium company and assets of another company are taken over. The businesses under financial distress and businesses established more than 3 years ago as well as tax debtors are not eligible for a loan. The working capital and investment loans may not exceed 7.5 mln lats per one entrepreneur or related companies.
More information about investment loan (in Latvian only)
More information about working capital loan (in Latvian only)
Programme is co-financed by:
