Programme area: Whole Latvia

Company status: Merchant, farmer or fisherman, whose activities:

Requirements for the company's financial indicators:

• There are no signs that the company is in a difficult situation (CDS)* (half of the signed share capital was lost as of 31.12.2019, the insolvency process or the legal protection process was announced);
• there are no current tax debts above 1 000 EUR or a schedule has been reached with the SRS for the repayment of the tax debt.

Maximum loan amount:1 000 000 EUR*, not exceeding:

• 25% of the turnover in 2019
• (wage fund + state social insurance mandatory contribution rate in 2019) x 2.

Documents to be submitted:

• Client’s questionnaire;
• Application for a loan

as well as:

• Annual reports for 2018 and 2019 (for 2019, this may be an operational financial report);
• operational financial report for Q1 2020 - balance sheet, and profit and loss statement, as well as breakdowns;
• lists of debtors and creditors;
• list of fixed assets;
• bank account printout for the last 6 months;
• statutes;
• documents, substantiating the impact of Covid-19 on the company's financial situation (for example, account statement, comparison of monthly turnover data for the Q1 of 2012 with the corresponding period of 2020, data on rejected orders, unpaid invoices, etc.). If the Borrower is not a subject to the regulatory requirements to prepare annual reports: o annual income declaration (with income and expense calculation) for the last 2 years;
• operational income and expense calculation.

Maximum loan term: 3 years

Maximum credit holidays:12 months

Interest rate:1,9 - 2,9% per annum

Credit collateral: Real estate, movable property - commercial pledges, guarantees

Sectors that are not financed: 

• Arms and ammunition trade;
• manufacture and sale of tobacco products;
• alcohol trade;
• gambling and betting;
• financial and insurance activities;
• real estate operations;
• real estate development.

Additional requirements: 

• No current negative records were found on the borrower, the borrower's owner (s) or the borrower's official (s), in the Bank of Latvia Credit Register and in other credit / debtor registers, as of 12.03.2020;
• The acceptance of a new obligation must be coordinated with a bank, if necessity of such coordination is provided for in an existing loan / lease agreements.

__________________________

* In case there is a group of related companies, the CDS characteristics are assessed and the maximum loan amount
 (1 000 000 EUR) is set for the group of companies.

Free expert advice and more detailed information are available by phone or email:please call +371 25608110 or write to This email address is being protected from spambots. You need JavaScript enabled to view it.