What are the benefits?
Loans under the instrument Entrepreneurship Promotion Fund 2014–2020 2 (EPF2) help natural persons or micro and small companies to start and develop start-up business by issuing loans and providing consultations.
Who may apply?
Natural persons working under the business licence or self-employed, micro and small companies.
People intending to set up a business and recently established entrepreneurs (up to 1 year since entity’s registration).
What is the maximum amount?
The maximum loan amount – EUR 25.000 with a maximum loan term of 120 months. Maximum interest rate – 3-month EURIBOR (only for 10% of the loan) + a fixed interest margin of 3% (margin of the credit union).
How does it work?
Applications are required to be submitted to the credit unions. Document forms are available on the website of the Lithuanian Central Credit Union (LCCU). In need of assistance with the business plan, the applicant can register for a consultation. In case the guarantee lack, the credit union can apply to INVEGA for in individual guarantee.
In addition, borrowers of soft loans under the EPF2 can benefit from global grant instrument Business Start-up Subsidies and receive a compensation of labour costs for every employee working under an employment contract.