Loan to agriculturalists
Loans for micro, small and medium-sized entrepreneurs engaged in:
primary production and processing of agricultural products
fishing and aquaculture production and primary processing
Individuals (e.g., self-employed persons, sole traders), farmers or fishermen, associations, foundations, cooperatives, etc. that have registered their economic activities with the Latvian State Revenue Service or the Latvian Register of Enterprises may also apply for a loan.
Current assets
- up to EUR 1,000,000 (up to EUR 2,850,000 for cooperatives)
- up to 2 years
- fixed rate of 3.5% or variable rate fixed portion of 3.23% + EURIBOR
Investments*
- up to EUR 5,000,000 and up to 90% of total costs
- from 2 to 15 years
- fixed rate of 3% or variable rate fixed portion of 3.23% + EURIBOR
*Small Loan Program for Rural Areas and SME Growth Loan Program
Land
- up to EUR 1,000,000
- up to 30 years
- rate from 1.9%
Advantages
Loans for operating capital and investments up to EUR 100,000 with relaxed collateral requirements
Loans of up to EUR 50,000 in the fishing industry can also be applied for before the company is established.
It is possible to restructure the loan, extend the loan term, and change the payment schedule (amount) and structure (frequency) in accordance with the terms and conditions of the program.
The project is co-financed by the European Agricultural Fund with the support of the Ministry of Agriculture and the Rural Support Service.
Support for programmes is provided under the Rural Development Plan or as de minimis aid in accordance with Commission Regulation (EU) No 1408/2013 of 18 December 2013 (for farmers) and Commission Regulation (EC) No 2023/2013 of 13 December 2023 (for farmers). (for farmers) Commission Regulation (EC) No 2023/2831 of 13 December 2023 (for non-farmers) and Commission Regulation (EU) No 717/2014 of 27 June 2014 (primary fisheries and aquaculture).