Loans for digital transformation
Loans promoting the digital transformation of businesses and parallel loans
The programme is being implemented as part of the European Union’s Recovery and Resilience Facility (RRF) of #NextGenerationEU. It is an opportunity for enterprises to boost their productivity by investing in digitalisation.
The loan is available for the implementation of digital transformation projects in Latvia to:
- General economic sector companies (the loans are not available to companies operating in the agricultural and fisheries sector)
- Micro, small, medium and large-sized enterprises registered in the Commercial Register
Supportable digitalisation activities:
Loans are not available for:
- Projects implemented in industries not supported by the programme
- Investments in energy production equipment (including for own consumption)
- Purchase of standard computer hardware
- Support and adaptation of existing software
- Purchase of real estate
- Construction costs exceeding 10 percent of the project’s total costs
- Payment of VAT
The conditions of the digitalisation programme are regulated by the Cabinet of Ministers Regulations No.421 of 05.07.2022.
The Altum loan is fully or partially extinguished after the project’s completion and receipt of the European Digital Innovation Centre’s opinion on the fulfilment of the conditions. The amount of the capital discount in which the Altum loan will be extinguished is determined before the conclusion of the contract, taking into consideration the limits of the amount of the capital loan and permissible support intensities.
Two types of loans are available within the programme:
Altum loan repayment term – up to 10 years
The Altum loan is extended for covering eligible costs, i.e., investments in tangible and intangible assets.
! Important – the Altum direct loan is available if:
- the loan is necessary only in the amount of the capital discount
- or a funding request has been submitted to a credit institution and the credit institution has refused to finance the project