Basic conditions:

1. The funds of the loan Entrepreneurship Promotion 2014–2020 must be used.
2. You must have at least 1 employee working under the employment contract and pay him/her at least the minimum wage (EUR 607 “on paper”) for the entire compensation period, which is 18 months.
3. If more employees are employed during the compensation period, you need to send the additional documents. The compensation for new employees shall be calculated only following the submission of the additional documents.
4. The compensation shall be calculated according to the fixed rate set at EUR 498.48. If you (the borrower) belong to a priority group, you will be reimbursed 75 % of the fixed rate every month, if you belong to a non-priority group – 50 %. For example, you are a recipient of a priority loan, you have 2 employees under an employment contract and you pay them a salary of at least EUR 607. Your account will be reimbursed every month with EUR 747.72 (EUR 498.48 x 75 % x 2 employees x 1 month = EUR 747.72)
5. If the employee is not paid at least EUR 607 during the compensation period, the compensation for the employee for that month will be EUR 0. For example, you are a beneficiary of a priority group loan, you have 2 employees under an employment contract and you pay them at least EUR 607, but in January 1 employee was ill and was paid EUR 200. For January, for 2 employees, one of whom was paid EUR 607 and the other EUR 200, you will be reimbursed EUR 373.86 (EUR 498.48 x 75 % x 1 employee x 1 month = EUR 373.86)
6. If you pay an employee a salary higher than EUR 607, the amount of compensation will not change.
7. Compensation shall be paid on a monthly basis. INVEGA receives all data on the taxes paid to SODRA automatically, thus, you will not need to provide any data on the calculated and paid salary.
8. The compensation period will commence from the day of submission of the application to INVEGA (if it coincides with the 1st day of the calendar month), or from the 1st day of the following month (if it does not coincide).
9. The maximum subsidy amount for 1 borrower may not exceed 50 % of the amount of EPF2 loan.
10. For example, you received the EPF2 loan and appropriated EUR 20,000, the maximum possible subsidy amount for the full 18-month compensation period for all employees cannot exceed EUR 10,000.
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Atnaujinta 2020-11-23