What are the benefits?

Loans for travel services providers are loans intended to reduce the effect of the COVID-19 pandemic on the tourist business by providing financing, in the form of loans, for covering necessary costs of providers of classified accommodation services and providers of public catering services.

Who may apply for a loan for providers of accommodation and catering services?

The loan is intended for financing necessary costs (employee salaries, purchase of transport and other services, lease of real property, property maintenance costs, payment of instalments of other loans according to loan repayment schedules):

  • For providers of classified accommodation services:the loan is provided to SMEs and large enterprises that have valid accommodation services classification certificates;
  • For providers of catering services: the loan is provided to large enterprises whose main activity is the restaurant and prepared meals provision activity;
  • On the day you submit your application, you are not a company experiencing difficulties and bankruptcy proceedings have not been initiated in your respect;
  • You have submitted to the Centre of Registers your financial statements for the preceding year. The statements of your companies and other companies of the group (if applicable) to which the borrower belongs must be submitted.

How much?

Maximum amount of the loan: EUR 3 million.

The agreement must be signed by 31 December 2020 at the latest and payment must be made by 31 March 2021 at the latest.

How does it work?

To apply for the loan, you must fill out the following documents:

To get the loan you have to fill out the following:

    • SME status declaration
    • Payroll sheets*
    • Debtor’s shareholding structure
    • Business plan: a short description of business operations, present and expected financial status
    • Historic and estimated cash flows (.xls format)
    • Proposal regarding possible loan securities for the portion of the loan in excess of €1million. **

 

*The listed documents shall be submitted in case the borrower wishes that the maximum possible amount of the loan be calculated based on the double amount of salaries inclusive of taxes payable to the borrower’s employees. Further information is provided in the description of the measure.

** The share of the loan exceeding EUR 1 million is subject to collaterals; further information about the collaterals is provided in the description of the measure.

Loan term: 18 months for loans under €20,000 and 72 months for loans in excess of €20,000.

The loan may be provided by 31 December 2020 at the latest.

The loan must be paid to a borrower within 3 months from the conclusion of the loan agreement and in any case by 31 March 2021.

Fill out the application

Contacts:

paskolosturizmui@invega.lt

+370 5 210 7510

+370 612 67141

+370 614 99029

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Atnaujinta 2020-08-14