Šiaulių bankas is activating the SME funding even more


Šiaulių banks is actively continuing funding of small and medium-sized business - a week ago it started lending according to the first stage of the state supported small credit program and, also, won the second credit granting stage of Economy promotion plan, which is implemented by INVEGA fund.

After the assessment of applications submitted to the tender, Šiaulių bankas took the first place in the rank for “Provision of small credits - stage 2” and received the maximum amount per applicant , i.e. LTL 35 million.

“A new program of state supported small credits generated huge businesspeople’s interest - starting the implementation of the first small credit granting stage we received more than half a hundred of application over the two weeks. Financing of small business is the underlying area of Šiaulių bankas , so the bank hopes to lend the received financial resources to numerous group of SMEs”, - said Deputy CEO, head of Corporate and Retail Banking Division Daiva Kiburienė.

Šiaulių bankas will be granting small credit for implementation of investment projects or working capital. According the second stage of the business promotion conditions a maximum amount per credit is higher than during the first stage and reaches LTL 350 thou. One borrower will be able to receive not more than one credit during one year, to which favoruable administration fees shall be applied. Business people will be able to take advantage of INVEGA guarantees and exclusive lending terms applied to small credits. 

INVEGA fund announced a bank selection tender for “Provision of small credits - stage 2” under the Economy promotion plan prepared by the Government of the Republic of Lithuanian. The winners of the second stage are entitled to LTL 100 million to finance very small, small and medium-sized enterprises.

Šiaulių bankas started granting the small credits to small and medium-sized business since the end of April when it won the first tender organized by the Ministry of Economy and INVEGA. An amount of the credit per company reached LTL 175 thou  during the first stage . According to the terms of the previous tender Šiaulių bankas provided funding to a portion of business people who are planning to develop public catering, camping services, bio0fuel businesses, manufacturing of children’s toys and clothing, etc.