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About Loans for Business Angels Co-financed Projects

Business Start-Ups

Loans for the implementation of new and perspective projects, financed by ‘business angels’.

  • The aim of the joint pilot project of ALTUM and the association “Latvian Business Angel Network” (“LBAN”) is to provide support to start-ups and enterprises with growth potential, thereby facilitating attraction of private investors for viable projects.

  • The pilot project will be implemented until 1 April 2018, and the funds allocated for its realisation is 3 million. EUR.

  • Combining the support from ALTUM and ‘business angels’, the network allows financing or receiving larger amount of support to start-ups, when they lack co-financing and / or a guarantee for a loan with a commercial bank. 

  • Thanks to the experience of the ‘business angels’, the start-ups can achieve planned results faster and more efficiently.

  • ALTUM issues a loan only if a ‘business angel’ or private investor invests in the project.

  • The maturity of the loans is up to 8 years for investments and up to 5 years for working capital.

     

  • The maximum amount of the ALTUM loan for one project is EUR 150,000, except for industries for which the support programme regulations allow EUR 43,000 to be issued.

  • The maximum amount of the ALTUM loan for one project is up to EUR 250,000 for projects in the processing industry, if more than one ‘business angel’ invests in the project.

  • ALTUM loan amount ratio of the business angel investment for each project is 60 : 40%

  • During the repayment of the ALTUM loan, the amount of investment made by the ‘business angel’ cannot be reduced. This condition can be negotiated with ALTUM.

  • Loans for investments and working capital within the framework of the Business Start-Up Programme.

  • Loans for investments and working capital within the framework of the SME Micro Loans Programme.

  • Loans for investments and working capital within the framework of the SME Growth Loans Programme.