Šiaulių bankas starts granting small credits

2009-04-10

Šiaulių bankas won the tender arranged by the Ministry of Economy of the Republic of Lithuania and “Investicijų ir verslo garantijos” UAB (INVEGA; Investment and Business Guarantees) for the portion of the budget assignments intended to credit small and medium-sized business.

The bank starts collecting applications from its corporate customers regarding granting of the state supported credits for small and medium-sized business. To stimulate the business Šiaulių bankas is going to render state assigned small credits in the amount of LTL 8 million and to invest 20 per cent of its own funds into this program additionally. In total, the amount assigned from the state budget to the small credits comprises LTL 20 million.

“The demand for lending is high and, as the matter of fact, the funds assigned by the state to the small credits will not satisfy this demand in full. However, a good start is half the work. The clients of Šiaulių bankas have expressed their active interest in possibilities to receive the credits and the bank is ready to this process. The small credits for small business issued in the nearest future will give a positive boost to the activities of the enterprises”, - said Deputy Chief Executive Officer, Head of Corporate and Retail Business Division Daiva Kiburienė.

Very small, small and medium-sized companies can apply for the small credits in Šiaulių bankas right now. One client will be able to receive one credit, the amount of which will not exceed LTL 175 thou. The interest applied to those credits will be fixed at 8 per cent approximately, depending on the project risk. In case the company receives guarantee from “Investicijų ir verslo garantijos” UAB (INVEGA; Investment and Business Guarantees), it might be entitled to the smaller interest. The small credits will be granted in litas only and for the period not longer than 4 years. The companies will be able to use the received funding for the working capital and to develop their investments.

You are welcome to address the nearest outlet of Šiaulių bankas regarding the state supported small credits.