Small and medium-sized enterprises may apply to AB Šiaulių bankas (Šiaulių bank) and AB Swedbank for soft loans up to 4 million euro funded under the measure Risk-shared loans financed by the European Regional Development Fund (RSL). The total amount of EUR 84.07 million is earmarked for the implementation of the RSL measure from the Business Financing Fund funded by the European Regional Development Fund.
The RSL measure is based on the principle of lending. The funds allocated to the RSL measure and the private funds of the RSL Measure Manager are used by sharing risk with the proportion of 45:55, under which the RSL Measure Manager contributes by 55 per cent of its own funds to 45 % of the RSL loan/credit line share. According to the measure, 45 % of the RSL loan/credit line will be lent free of charge with the annual interest rate of 0 %. 55 % of the RSL loan/credit line will be provided at the annual interest rate based on market conditions. The RSL funds may be used for investments intended to finance investments and/or circulating assets of SMEs, funding can be provided in the form of a loan for a period not exceeding 120 months and, in case of a credit line, for 36 months.
It is expected that the measure RSL will help reduce the price of financing business entities. Funds provided to the market will ensure the availability of financing sources to small and medium-sized enterprises and decrease the credit risk borne by the Measure Manager. Preferential loans granted at prices lower than the normal market prices will promote lending to riskier projects, business execution and development.
The number of loans per SME will not be limited. Funding under the RSL measure will provided as de minimis aid under Regulation No. 1407/2013.