Large investment loan with capital rebate
On November 20, 2025, a new fourth round of applications for loans with a capital rebate was commenced. Applications will be accepted until 20 February 2026.
The loan is intendedformedium-sized and large enterprises planningtomake at least EUR 10 millioninvestments in growth of the enterprise.
The program is implemented by the Latvian Investment and Development Agency and ALTUM.
Terms of loan:
up to 30% of the eligible costs of the project with a capitalrebate of up to 100% of the principal amount of the loan
maturity - up to 20 years*
More info
Irina Nožkina
ALTUM’s programs aim to address market failures and, in certain criteria, have more flexible requirements than private sector financing. ALTUM’s programs are financed from public resources and ALTUM’s funding is allocated responsibly, taking care of its return.
Financial health criteria for the company
In order to ensure management of the public resources in accordance with the Cabinet Regulations and EC regulations and responsible issuance of the loans, ALTUM evaluates the financial standing of the company, including:
- makes sure that the company does not have SRS tax debt, that debt repayment agreement has been concluded and is respected
- makes sure that the company is not included in the Credit Register of the Bank of Latvia or other registers of debtors
- analyzes signs of financial distress (e.g., no significant negative equity, long-term losses, insolvency risks)
Before granting a loan, ALTUM’S experts always carefully assess:
potential and sustainability of the business idea:
current and projected market share of the company, competitive advantage of the company, level of technology, diversification of activities, main risks and their management
relevant knowledge and experience for successful implementation of the activities envisaged in the project:
previous experience of the management team – past operational performance results of the managers (including while working for other companies), role of the managers in previously achieved results, knowledge of industry and development trends
co-funding necessary for implementation of the project
business risks: including AML/CFT, sanctions lists, etc.
current financial indicators, ability to meet liabilities as at the moment of the decision where the minimum permissible values are:
- adjusted equity ratio ≥ 25%
- planned net liabilities / EBITDA < 3.5
- debt service coverage ratio (DSCR) ≥ 1.2
the planned financial indicators, ability to ensure sufficient cash flow for covering the planned liabilities after completion of the investment project, where the minimum permissible values are:
- if net liabilities/EBITDA ≤ 7.5 (before application of capital rebate), then equity ratio ≥ 30%
- jif net liabilities/EBITDA ≤ 5.5 (before application of capitalrebate), then equity ratio ≥ 25%
- debt service coverage ratio (DSCR) ≥ 1.2
adequacy and liquidity of collateral
- loan-to-value ratio of up to 150%
Kontakti
Irina Nožkina
Two separate applications– to LIIA and ALTUM are required in order to apply to the investment project selection round for a loan with a capital rebate.
- The loan application to Altum is to be submitted simultaneously or sequentially with the application for selection to LIIA
- Applications can be submitted from 20 November 2025 until23:59 on 20 February 2026
- Information on submission of the application to LIDA for selection and documents to be filled in is available here
- Submit the loan application to ALTUM via mans.altum.lv
