INVEGA

Entrepreneurship Promotion Fund 2014 – 2020

What are the benefits?

Loans under the instrument Entrepreneurship Promotion Fund 2014–2020 2 (EPF2) help natural persons or micro and small companies to start and develop start-up business by issuing loans and providing consultations.

What companies are eligible?

Natural persons working under the business licence or self-employed, micro and small companies.

People intending to set up a business and recently established entrepreneurs (up to 1 year since entity’s registration).

What is the maximum amount?

The maximum loan amount – EUR 25.000 with a maximum loan term of 120 months. Maximum interest rate – 3-month EURIBOR (only for 10% of the loan) + a fixed interest margin of 3% (margin of the credit union).

How does it work?

Applications are required to be submitted to the credit unions, members of the Lithuanian Central Credit Union (LCCU). Document forms are available on the website of the Lithuanian Central Credit Union (LCCU). In need of assistance with the business plan, the applicant can register for a consultation. In case the guarantee lack, the credit union can apply to INVEGA for in individual guarantee.

In addition, borrowers of soft loans under the EPF2 can benefit from global grant instrument Business Start-up Subsidies and receive a compensation of labour costs for every employee working under an employment contract.

Open Credit Fund 2

What are the benefits?

Soft loans provided under the Open Credit Fund 2 (OCF2) facilitates the financing for the implementation of business projects, in particular within the first phases of project development.

What companies are eligible?

Small and medium-sized enterprises.

What is the maximum amount?

Maximum amount of OCF2 financing per loan is EUR 600.000 with a maximum loan term of 120 months for loans and leasing and 36 months for facility of credit limit. Maximum amount of the financing may be increased depending on the proportional share of bank funding.

How does it work?

In order to use the financial instrument under the Open Credit Fund 2, enterprise or entrepreneur is required to apply, firstly, to the credit institution with which a cooperation agreement was formed. Currently, soft loans under Open Credit Fund 2 are provided by Citadele bank and Medicinos bankas. Medicinos bankas provides leasing transaction services as well.