Conditions

• Altum
• Loans to businesses
• SME growth loan programme
• Conditions

Conditions of the programme:

Investment loan:

• EUR currency;
• maximum amount up to LVL 300 000, but not more than 75% of the total costs of the project;
• fixed interest rate from 5%; variable interest rate from 3% plus 6 months EURIBOR
• maturity from 2 to 10 years;
• option to postpone the principal amount payments for up to 2 years, if related to lasting implementation of the financed project;
• the borrower’s co-financing should be at least 25% or contain other loan funds without any public financing.

The maturity of the investment loan may not exceed the productive time of the financed investment. The investment loan is not granted for purchase of the shares of the enterprises and re-financing of the existing loans.

The following activities are excluded:

• primary production of agricultural goods;
• manufacture of steel;
• ship building;
• manufacture of synthetic fibre;
• fishing and aquaculture;
• manufacture and sale of weapons and ammunition;
• manufacture and sale of tobacco products;
• gambling and betting activities;
• mining of coal;
• financial and insurance activities;
• real estate activities;
• wholesale and retail trade;
• repair of motor vehicles and motorbikes;
• renting of the means of transport, machinery and equipment, personal goods, household equipment and goods;
• catering services;
• education;
• arts, entertainment and recreation;
• activities of membership, political and other organisations, repair of computers, personal goods and household appliances, other personal service activities;
• activities of households as employers.

More information available at the nearest branch of the Mortgage Bank.

Documents required to obtain the loan »

The loan officer will inform you about documents required in addition.

Working capital loan (including credit lines)

• EUR currency;
• maximum amount up to LVL 200 000;
• fixed interest rate from 5%; variable interest rate from 3% plus 6 months EURIBOR
• maturity from 2 to 5 years (for credit lines up to 3 years)

The following activities are excluded:

• primary production of agricultural goods;
• fishing and aquaculture;
• manufacture and sale of weapons and ammunition;
• manufacture and sale of tobacco products;
• gambling and betting activities;
• mining of coal;
• financial and insurance activities;
• real estate activities;
• wholesale and retail trade;
• repair of motor vehicles and motorbikes;
• renting of the means of transport, machinery and equipment, personal goods, household equipment and goods;
• catering services;
• professional, scientific and technical activities;
• education;
• arts, entertainment and recreation;
• activities of membership, political and other organisations;
• repair of computers, personal goods and household appliances, other personal service activities;
• activities of households as employers.

Attention, new information on amendments in the programme!

Since October 14, 2010 the loans up to LVL 30 000 available for micro enterprises operating in following sectors: