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Small loans for rural areas

Rural Enterprises

A simple loan for a small and medium-sized entrepreneur – a farmer, a fisherman or any other entrepreneur. It is also possible to apply before the establishment of the business. 

  • The objective – provision of resources for investment and current assets

  • The loan amount – up to 100 000 EUR, including up to 35 000 EUR for current assets 

  • Annual rate of 6-8%

  • The repayment deadline is after up to 10 years. Up to 15 years for projects related to the purchase, construction and renovation of real estate

  • The borrower's participation in the project:

    • for a loan up to 7 000 EUR – 0%
    • for a loan over 7 000 EUR – 10% of the amount (for non-public funding)
  • Several loans can be obtained under the program

  • The place of implementation – in rural areas and in cities with a population of up to 15 000 (except in Ventspils, Liepaja, Jelgava, Jurmala, Riga, Valmiera, Rezekne, Daugavpils, Jekabpils, Tukums, Salaspils and Cesis). There is no territorial restriction for fisheries

  • Available for enterprises with a turnover of up to 70 000 EUR in the previous year (excluding any national and EU support). There are no turnover restrictions for existing fish farming enterprises

  • To obtain a loan, the personal guarantee of the enterprise's owner is required. Collateral security – the enterprise's property as a combination of objects, incl. fixed assets acquired within the loan period. Additional collateral security may be provided by another property, the owner's guarantees:

    • a loan without collateral security is up to 25 000 EUR if the borrower meets the terms and requirements of the EaSI* and COSME** grants
    • for a loan of over 25 000 EUR, it is required that the collateral security is worth at least 74% of the loaned amount

    The aid is provided as de minimis aid in accordance with the Commission Regulation (EU) No. 1407/2013 of 18.12.2013, the Commission Regulation (EU) No. 1408/2013 of 18.12.2013 and Regulation (EU) No. 717/2014 of 27.06.2014. Cabinet of Ministers Regulation No. 446 "Regulations for the program of loans for agricultural, rural and fishery related economic operators" of 24.07.2018 regulates this program.