Instrument suspended Loans for Invoices Payable
From 2020 July 17 16:00 acceptance of Loans for payable invoices (ASAP) applications is suspended.
What are the benefits?
Loans for payable invoices (hereinafter referred to as ASAP loans) allow small businesses to mitigate the effects of the COVID-19 pandemic, which can spread through payment chains and result in their disruption, and to help maintain the continuity of business operations of trade credit recipients.
What companies are eligible?
The ASAP loan is intended for the supplier company for the invoices issued from January 1 until March 31 to the buyer company which due to the COVID-19 outbreak experienced difficulties and was unable to pay or only partially paid such invoices.
Only the head of the company can submit applications. The application must be signed with a qualified electronic signature.
Financial statements for 2018 and 2019 must be submitted to the Register of Legal Entities.
The applicant and the company which failed to pay the invoice (the buyer of goods / services) must not belong to the same group of companies.
What is the maximum amount?
Up to EUR 11,92 million from the state budget of the Republic of Lithuania was allocated for the implementation of this instrument.
The minimum unpaid invoice amount is EUR 500 (including VAT). The maximum ASAP loan amount is 500 000 EUR.
ASAP loans are granted for a period of 12 months with the possibility of extension, but the term of the loan agreement may not exceed 36 months.