After quarantine is lifted in Lithuania, the deadlines for some assistance measures provided to Lithuanian businesses through UAB Investicijų ir Verslo Garantijos (INVEGA) are about to expire. 17 July (Friday), 4:00 p.m., will mark the close of the acceptance of applications for loans under the ASAP scheme.
“With the help of the loan, companies can successfully ensure the fulfilment of obligations to their business partners, possibly postponed due to the current world-wide situation. The remaining two weeks for filing applications and receiving loans under the ASAP measure provide a possibility to companies to remain financially disciplined and ensure stability with regard to their partners,” says Justina Prakapavičiūtė, project manager at UAB Investicijų ir Verslo Garantijos (INVEGA).
Since the start of scheme implementation, Lithuanian companies have already been granted 238 loans with the value of EUR 9.78 million. Applications for ASAP loans can be submitted online at https://asap.invega.lt.
INVEGA would like to remind the companies of the requirements they must meet to be eligible for an ASAP loan:
- The loan is intended for small companies which operated successfully prior to quarantine and whose clients were not able to pay bills in full or in part due to quarantine restrictions;
- A company seeking the loan should have submitted its financial statements for 2018 and 2019 to the Register of Legal Entities;
- The bills to be financed from the ASAP loan must be issued from 1 January 2020 to 31 March 2020.
ASAP loans granted by INVEGA range from EUR 500 to EUR 500 thousand, depending on the company’s sales volumes and value of confirmed bills. Supplier companies only need to register the data of outstanding or just partially paid bills in the application submission system, while the buyer that did not pay the bills has to confirm the data. All the remaining information required for the examination of application is collected and verified by INVEGA. Following the approval of application, a loan agreement is signed; then, the loan will be disbursed by 31 July.