INVEGA manages soft loan financial instruments financed by the European Structural and Investment Funds (ESIF) and resources returned allowing small and medium-sized enterprises (SME) to start or expand of their activities. Different types of loans provided by financial institutions are offered under different conditions. The best option to enhance SME’s access to finance is chosen according to the amount of the financial support needed and payment provisions.
The instrument is intended for entrepreneurs who intend to start or expand their business operating for a period of at least 1 year. Under the instrument, soft loans up to EUR 25,000 are granted and free consultations are provided. Having received the support provided under this instrument, borrowers can benefit from the compensation instrument Business Start-up Subsidies and receive a compensation of labour costs for each employee.
The maximum amount of financing per soft loan intended for business start-up and development amounts to EUR 600,000. Soft loans under OCF2 are available together with the Invega guarantee and partial recovery of the paid interest. These soft loans are provided by the Lithuanian Branch of AS Citadele Banka or Medicinos Bankas. Medicinos Bankas provides leasing transaction services as well.
RSL are based on the principle of lending. To implement this financial instrument, the funds allocated to the RSL instrument and the private funds of the RSL Instrument Manager are used by sharing risk with the proportion of 45:55, under which the RSL Instrument Manager contributes by 55 per cent of its own funds to 45 per cent of the RSL loan/credit line share. The number of loans per SME is not limited. Funding under this instrument in the form of a loan or credit line is provided and the documentation is prepared by the RSL instrument managers, namely, AB Šiaulių Bankas and AB bank Swedbank, pursuant to their internal regulations and procedures.
Crowd funding loans are suitable for those who intend to borrow through crowd funding platforms. The total amount earmarked for financing of Avietė loans is EUR 4,615 million of the funds repaid and/or to be repaid to the INVEGA fund. The maximum amount per loan is EUR 10,000 and funding can be provided up to 40 per cent of the total loan amount. A loan may be granted for a period not exceeding 36 months and it is intended to finance both investments and circulating capital, except for the refinancing of financial obligations, financial activities and residential real estate.