Šiaulių bankas has successfully completed the first stage of distribution of the state supported credit to small business
After winning the tender arranged by the Ministry of Economy of the Republic of Lithuania and “Investment and Business Guarantees” UAB (INVEGA) for the portion of Lithuanian state budget assignments committed to finance small and medium-sized business, Šiaulių bankas completed lending of funds according to the first stage of the program of the state supported small credits.
During the first stage the companies have been actively submitting applications - 70 Lithuanian companies have been granted LTL 8,7 million by Šiaulių bankas, LTL 7 million of which was from the state budget while LTL 1,7 million - from the bank’s own funds. The small credit program of this stage was mainly interesting to business people from Alytus, Šiauliai and Vilnius operating in the field of manufacturing, retail trading, and catering. The amount of borrowed funds fluctuated from LTL 20 thou to the maximum amount set for the first sate of the program, i.e. to LTL 175 thou.
“The current economic situation is not easy either for the companies or for the banks, therefore that fact that we provided seventy companies with more favourable financial conditions to develop their business within the period a little bit longer than three months could be considered as a successful step. Active collaboration with small and medium-sized business is being continued today as well as we are further granting the state supported credits”, - said Deputy Chief Executive Officer, Head of Business Development Division Jonas Bartkus after the first stage of small credit granting was finished.
The second stage of small credits is mainly interesting to the business people from Šiauliai, Kaunas, Vilnius who are engaged in wholesale trading in wood, construction materials and sanitary equipment, also in trading in engines of cars, wholesale in furniture, etc. Implementing the second stage of the program the maximum credit amount allowed per company comprises LTL 350 thou, maturity - up to 5 years. Currently the amount of small credit applications already approved by Šiaulių bankas reaches LTL 13 million.
Moreover, Šiaulių bankas also accepts applications for credits form the Open Credit Fund (OCF). According to this program the maximum credit amount per borrower is up to LTL 2 million, maturity - up to 5 years and over 12 month period the company is allowed to take two credits.
The state supported credits of the second stage as well as credits from the OCF are granted collaborating with the “Investment and Business Guarantees” UAB (INVEGA). Any outlet of Šiaulių bankas could be addressed regarding the loan.