In response to the Covid-19 situation, Investicijų ir Verslo Garantijos UAB (INVEGA) is offering businesses additional concessional funding under the Aviete Crowdfunding Loans facility and has called on new alternative funders to join the scheme.
In addition to the existing conditions of the Aviete facility, other new terms will apply until 31 December 2020. During this period, Aviete funds will be used to issue loans, which can be financed up to 100 per cent from Aviete, but only up to the limit of EUR 25,000. A maximum of two loans can be funded per borrower over a six-month period. Loans will be granted under additional terms to small and medium-sized enterprises (SMEs) for up to 12 months.
Loans for both working capital and investments will continue to be available through the FinBee crowdfunding platform. It is expected that other crowdfunding platforms supervised by the Bank of Lithuania will also join the scheme.
“Investors registered on the crowdfunding platform can fund publicly announced project, thus helping entrepreneurs who are looking for funding. I hope that more favourable lending conditions will help businesses overcome their current difficulties and continue their successful development,” said Kęstutis Motiejūnas, CEO of INVEGA. “We continue urging entrepreneurs to take advantage of INVEGA’s instruments in dealing with the current situation. And we are also inviting all investors to join the crowdfunding platform so they can contribute to funding businesses and help them get through this difficult time,” he added.