Šiaulių bankas has signed an agreement regarding the second stage of small credit granting

2009-05-13

“Investment and Business Guarantees” UAB (INVEGA) and Šiaulių bankas hadve signed the agreement regarding granting of small credits to small and medium-sized business.

Referring to the agreement the amount of LTL 35 million is assigned to Šiaulių bankas to grant small credits - this is the biggest amount among the banks winning the tender. LTL 100 million is going to be distributed to small and medium-sized business under the measure “Small credit granting - stage 2”.

“The competitiveness and growth of the economic market is mainly influenced by vitality of small and medium-sized business. The funds lent by INVEGA to the bank shall reach our clients in the nearest future and we hope that it will help solving the problem of lack of working capital and give possibilities to develop new investment projects”, - said Deputy CEO, Head of Corporate and Retail Banking Division of Šiualių bankas Daiva Kiburienė signing the agreement.

The business companies will be able to use state supported small credits for the development of activities and investments. Maximum amount of small credit per company does not exceed LTL 350 thou. During the period of 12 months one company can receive one credit. The credit is granted in litas only and for the period until the end of 2014.

The second stage credits are planned to be distributed within half a year.