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Loan To Start A Business

The aim of the loan is to facilitate engagement of Latvian inhabitants in business

  • Purpose: investments and inventory

  • Amount: from 2 000 to 150 000 EUR


  • Term of up to 10 years; for projects related to the purchase, construction and renovation of immovable property - up to 15 years

  • Annual interest rate: fixed 3–7% + the resources fee of the State Treasury

  • Owner contribution in the project:

    • loan up to 7 000 EUR – 0%
    • loan more than 7 000 EUR – 10% of the project amount (financing not related to state aid)
  • Pledge: property of the company as a collectivity of things, including fixed assets acquired using the loan. Another property and owner’s guarantees can serve as an additional security:

    • up to 25 000 EUR, the acquired object serves as a pledge
    • more than 25 000 EUR, the value of pledge has to be at least 74% or more of the loan
    • private guarantee: depending on the value of pledge 30% or 100% of the amount of granted loan
  • An entrepreneur do not have to establish a company to validate availability of a loan

  • Aid is provided as de minimis support in line with Commission Regulation (EU) No. 1407/2013 of 18 December 2013. Cabinet of Ministers Regulations No. 328 as of 31 May 2016 “Regulations on Micro-Loans and Loans-to-Start” are the provisions regulating the programme.