Lithuanian youths most enterprising

Last year entrepreneurs and small companies used loans provided by the VSF the most actively since the fund was established in 2010, said Tomas Valauskas, Head of EU Projects’ Department at Lithuanian Central Credit Union (LCKU) which oversees issuance of the VSF loans. According to him, even though the average loan has decreased by a third, to EUR 12,500, yet the total funding volume increased because more people were willing to create business. The tendency is especially noticeable among younger people.

It is estimated that in 2014 new businessmen received loans totalling EUR 5.8 million, or 9 percent more than in 2013. Credit was granted to 188 people younger than 29, twice more than previously. They received EUR 2.2 million.

Taking into account growing entrepreneurship and demand for funding from the VSF, it was decided to prolong loan issuance to 30 September 2015, whereas applications for the compensation of interest will be accepted until 30 August 2015.

Free consultations and special training will continue to be provided to entrepreneurs.

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