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.