SMEs to get €38m fund for soft loans

“This new draft measure will provide financing for small and medium sized business entities, it will ensure the availability of financial resources and promote the development of business and investment. With a greater demand for this measure, the Ministry of Economy plans to increase the funding,” said Economy Minister Evaldas Gustas.

Through the measure, the Open Credit Fund 2, commercial projects will receive loans, and small and medium sized businesses will have access to soft loans or financial lease transactions at a lower than market price over a long term.

Businesses will be able to finance up to 75% of projects from the Open Credit Fund 2 measure up to a maximum of €450,000. The measure will be implemented by INVEGA.

Under the measure Open Credit Fund 2, approximately €38 million will be allocated for soft loans from the funds returned to UAB Investment and Business Guarantees (INVEGA).

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