Guaranteed Leasing

Why is it useful?

The guarantees provided by INVEGA help solve the issue of insufficient or unattractive securities for financial institutions and facilitate access to financing sources.

Who can apply?

Starting entrepreneurs, representatives of small and medium-sized enterprises.


In order to use the measure, a company or starting entrepreneur must first approach a bank, credit union or leasing company and reach an agreement on financing. A leasing institution then applies to INVEGA.

INVEGA can provide leasing guarantees to such leasing companies.

Documents shall be completed and provided by the financial institution:

  1. Application for the provision of a guarantee (by filling in the prescribed form);
  2. Financial institution's decision on granting a loan;
  3. Assessment of the borrower by a financial institution.

Documents shall be completed by the borrower:

  1. Annex 1 of the application for guarantee (by filling in the prescribed form);
  2. Declaration of the status of a small and medium-sized enterprise (by filling in the prescribed form) or a certificate/letter indicating the size of the company ("large company");
  3. "One company" declaration (by filling in the prescribed form);
  4. Form on the financial status and forecasts of the SME entity (by filling in the prescribed form)*;
  5. Notification concerning the processing of personal data (by filling in the prescribed form);**
  6. Financial reporting documents: balance sheet, profit (loss) statement;
    Individual companies that do not prepare financial reporting in accordance with the Law of the Republic of Lithuania on Financial Reporting by Undertakings, submit company income declarations for the past 2 years and documents (certificates) in the form (or free form) prescribed by the Financial Institution for the current period on the following criteria: non-current material and financial assets, stocks, amounts paid in advance, receivables, financial debts of the company to banks and other financial institutions, other debts of the company.
  7. Additional documents:
    1. investment project or business plan;
    2. agreements, contracts, orders, letters of intent with customers to support sales (certified copies);
    3. purchase and sale agreement of the property;
    4. valuation of purchased and/or mortgaged property;
    5. estimate of construction, repair or reconstruction works;
    6. list of assets planned to be purchased with quantities and prices, commercial offers, etc.;
    7. in the case of refinancing, documents on the justification of paid investments (purchase and sale agreement) and payment documents;
    8. Permits and licences held by the SME entity required to carry out the activities or to implement the project.
      The specified documents shall have to be submitted according to a separate request of the INVEGA project evaluator in cases where the material provided by the financial institution shall not be sufficient to assess the risks of the project to be guaranteed.


  • All documents shall be provided by the financial institution.
  • Documents must be signed by electronic signature. If there is no such possibility, it shall be necessary to submit documents with original signatures.
  • The project shall begin to be considered only after receiving all the documents.
  • Requests for guarantees, requests to change the terms and conditions of the guarantee, contracts shall be sent by e-mail to
  • INVEGA shall have the right to demand that documents that are not submitted in Lithuanian be translated into Lithuanian.

* This form must be sent signed with an electronic signature and in excel format.
** Notifications of the head of the borrower and the citizens of the Republic of Lithuania or persons who have a permanent residence permit in Lithuania who hold a controlling package of shares/parts/other parts of the capital concerning the processing of personal data when collecting data from any state and non-state institutions, companies and organisations for the purposes of credit risk assessment, shall be provided in these cases.

Other documents

How much?

The maximum amount of the guarantee, including the balances of the available guarantees, shall be as follows:

For small and medium enterprises operating for up to 3 years – EUR 1,125,000;
For small and medium enterprises operating over 3 years – EUR 2,500,000.


  Minimum equity Guarantee intensity
Small or medium-sized enterprises 10 % up to 80% (minimum guarantee – EUR 5,000)

Use the calculator to verify how much the guarantee would cost.


How does it work?

  1. In order to use the measure, a company or starting entrepreneur must first approach a bank, credit union or leasing company and reach an agreement on financing.
  2. The financial institution shall assess the ongoing project, the possibilities of repaying the lease and calculate the amount of the missing deposit.
  3. Afterwards, the financial institution shall submit a request for a guarantee and other financing-related documents to INVEGA.

Requests to obtain guarantees or to amend the terms and conditions of the guarantee and contracts shall be sent by e-mail to 


Terms and Conditions

INVEGA may provide a guarantee for leasing to the leasing company financing the purchase of equipment, i.e. credit institution or financial company, as defined in the Republic of Lithuania Law on Financial Institutions and the main activity of which is financial leasing (leasing), if a company established and operating in Lithuania, meeting the requirements set for a small and medium-sized enterprises, intends to purchase production equipment and/or equipment by way of financial lease (leasing). This shall ensure the payment of part of the lease amount in case of bankruptcy of the lessee.

INVEGAS's obligation to pay the leasing company in accordance with the leasing guarantee provided shall be fulfilled if, in the event of the lessee's insolvency or cessation of operations, the leasing company has failed, or for objective reasons, it is probable that it shall not be possible to collect the entire leased amount from the leased property, the lessee and other means of ensuring the repayment of the lease amount provided by the lessee.

If the lessee returns part of the leasing amount, the guaranteed and non-guaranteed amount of financial leasing is proportionally reduced by this amount.

The leasing guarantee shall be provided on the condition that the financed project (acquisition of leased property) is recognised by INVEGA as financially sound (recoverable) and financeable.

The leasing guarantee shall not be provided:
  • If the lessee and its beneficiary, as defined in Article 2 (14) of the Republic of Lithuania Law on the Prevention of Money Laundering and Terrorist Financing, or to natural persons and legal entities for the benefit of which the loan funds shall be used are subject to sanctions (any trade, economic or financial sanctions, embargoes or other restrictive measures), which are established, applied or administered by the United Nations Security Council, the European Union, the Republic of Lithuania, the Government of the United States of America (including the Office of Foreign Assets Control of the U.S. Department of the Treasury), United Kingdom of Great Britain and Northern Ireland;
  • If the lessee does not meet the minimum criteria of reliable taxpayers, established in Article 401 of the Republic of Lithuania Law on Tax Administration. Compliance with this requirement shall be assessed according to the publicly announced information of the State Tax Inspectorate under the Ministry of Finance of the Republic of Lithuania, published on the website at;
  • If the lessee has not submitted a set of annual financial statements for the previous financial year to the State Enterprise Centre of Registers, when such an obligation is established according to the legal acts applicable to its activities.
Leasing and lessee

In this case, financial lease (leasing) shall be understood as a service, when an asset financed on the basis of instalments, chosen by the lessee independently, is purchased under the ownership of the leasing company, based on the leasing contract, is transferred to the lessee for use and management and, after the lessee makes a final settlement with the leasing company, becomes the property of the lessee.

Guarantees are also provided for reverse leasing transactions, if new, unused production equipment and/or devices were purchased by the lessee no earlier than 6 months before the date of applying to INVEGA for granting the leasing guarantee. In this case, the maximum leasing amount cannot exceed 90 percent of the asset acquisition value (excluding VAT) and when applying to INVEGA for the granting of a leasing guarantee, production equipment and/or equipment production (the newness of the equipment shall be assessed at the time of its acquisition) and documents confirming the purchase must be additionally submitted.

INVEGA guarantees shall not be provided for other services provided by leasing companies (rental of activities, etc.).
The lessee must be:

  •  An SME entity;
  • Registered in the Register of Legal Entities or registered as a taxpayer in the Republic of Lithuania;
  • Non-bankrupt, restructuring and not experiencing difficulties, as defined in Article 4(6)(a) of Commission Regulation (EU) No. 1407/2013;
  • Having concluded a leasing agreement with a leasing company for the acquisition of an asset by means of a financial lease,
  • De minimis aid may be granted to the lessee (see the "De minimis aid" section)
  • Able to pay an initial payment of at least 10 percent of the price of the asset financed on the basis of instalments;
General conditions for obtaining a leasing guarantee

The amount of the leasing guarantee must not exceed 80 percent of the difference between the price of the leased asset and the initial payment, and its size cannot exceed 60 percent of the price of the leased asset.

The amount of the leasing guarantee cannot be higher than EUR 1,500,000, and in the case of a lessee who has been operating for less than 3 years on the day of submitting the request for a guarantee to INVEGA, it cannot be higher than EUR 750,000.

The minimum leasing guarantee must be at least EUR 5,000.

If several INVEGA leasing guarantees and/or INVEGA loan guarantees are and/or have been granted to one lessee, the total amount of guarantees, taking into account the actual amounts (balances) of the obligations of the granted guarantees, cannot exceed EUR 10,000,000.

Issue of a leasing guarantee

Applications for leasing guarantees submitted by leasing companies have to be processed by INVEGA within 20 calendar days after the receipt of the required documents.

The decision to issue a leasing guarantee is made by the managing bodies of INVEGA on recommendation of the Risk Management Committee of INVEGA – the Director General of INVEGA or, in special cases, the Board of INVEGA.

The Director General of INVEGA or an employee of INVEGA authorised by him or her signs a written guarantee within 3 (three) working days after the receipt of the leasing contract and the payment of the guarantee fee.

Leasing assets

New and used production equipment and/or facilities:

  • equipment, devices, apparatus, machines, facilities, mechanisms, technological lines, vehicles and other special equipment.
  • separated parts of buildings, premises and/or other real estate;
  • tangible assets or tangible assets together with related intangible assets (with software, licence, etc.).

The asset must be intended for: increasing the performance and productivity of the lessee (when an asset older than 5 years is purchased (the lessee must provide the Company with a justification (business plan or free form explanation) of how the acquired asset shall contribute to increasing the productivity of the lessee's activity).

The asset may not be:

  • Assembly parts, except in cases where they are purchased together with production equipment and facilities;
  • Trailers, semi-trailers, which are used to carry out cargo transportation activities on land roads on contractual basis or for remuneration;
  • Vessels that are intended to carry out activities in the fisheries and aquaculture sectors;
  • Railway and tram locomotives or rolling stock, aircraft, passenger cars (excluding commercial vehicles);
  • Production equipment and/or devices when they are purchased from persons related to the lessee (its participants, subsidiaries or parent companies and others);
  • Used for personal purposes of natural persons related to the lessee.

Assets may not be leased if the lessee is engaged in any of the following areas: provision of financial services, insurance, production of ethyl alcohol, wholesale of alcoholic beverages, manufacture of weapons and/or their trade, production of tobacco products and/or their wholesale, organisation of gambling or betting. If the lessee carries out the activities mentioned in this sub-clause and other activities for which a leasing guarantee may be provided, it must ensure that the assets acquired through leasing shall not be used to carry out the abovementioned activities. Otherwise, i.e. if the lessee is unable to ensure (separate) that the assets acquired through leasing shall not be used for restricted activities, the leasing guarantee shall not be provided.

Valuation of leased assets:

It is not mandatory if new (unused) production equipment and/or devices are purchased, which were manufactured no earlier than 12 months before the conclusion of the leasing agreement, and which were not used for their intended purpose.

An assessment by independent asset valuators or a leasing company shall be mandatory (optional) if production equipment and/or facilities older than 5 years are purchased.
Assessment by independent property valuators shall be mandatory if:

  • Production equipment and/or facilities older than 5 years are purchased;
  • Production equipment and/or facilities owned by the lessor or persons related thereto are purchased (i.e. when the seller of the asset financed on the basis of instalments is the lessor or a company of the group of companies to which the lessor belongs).

The valuation of the assets must be carried out no earlier than 6 months before applying to INVEGA for the granting of a leasing guarantee.

Leasing guarantee fee

The lessee pays a guarantee fee to INVEGA for the issuance of the leasing guarantee.

The guarantee fee will be calculated on the basis of the guarantee amount and the duration of the use of the guarantee, i.e. a fixed base for the first year of use (1 to 12 months) and an annual charge for each subsequent year. The fixed base will depend on the lessee’s age (up to 3 years – 1 %, over 3 years – 1.5 %). The annual charge will be 0.2 % for each additional year (i.e. 0.2 % for 13–24 months, for 25–36 months, etc.).

Please find below the pricing table:

Fixed base
Annual charge
All companies up to 3 years 1 % 0.2 %
All companies over 3 years of age 1.50 % 0.2 %

* – the age of the company is calculated as from the date of receipt of the guarantee application.

Examples of guarantee pricing.

1) Age of the lessee is up to 3 years, the lease term is 4 years, and the duration of the guarantee is 3 years.

Guarantee fee = Fixed base + (n * annual charge)
Guarantee fee = 1 % + (2 * 0.2 %) = 1.4 %

2) Age of the lessee is over 3 years, the lease term is 5 years, and the duration of the guarantee is 4 years.

Guarantee fee = Fixed base + (n * annual charge)
Guarantee fee = 1.5 % + (3 * 0.2 %) = 2.1 %
De minimis aid

Leasing guarantees are provided as de minimis aid under Regulation No 1407/2013.

The aggregate amount of de minimis aid provided and/or intended to be provided in the current and 2 previous financial years may not exceed EUR 200,000 per company. The maximum amount of de minimis aid for road transport companies is EUR 100,000.

These thresholds apply irrespective of the form of de minimis aid or objectives to be achieved and whether the aid provided is fully or partially financed from resources originating in the EU.

The amount of de minimis aid provided in the form of a leasing guarantee is calculated according to the provisions of Regulation No 1407/2013 and depends on the amount and duration of the guarantee. Before adopting a decision to provide a leasing guarantee, INVEGA verifies that the lessee is eligible to receive de minimis aid and calculates the amount of de minimis aid which would be provided in the form of a leasing guarantee and fee financing and reserves it in the Register of Provided State Aid. Once INVEGA decides to provide a leasing guarantee and issues a written guarantee, the relevant amount of de minimis aid is registered in the Register of Provided State Aid.