Program for persons engaged in business activities, who are primary producers of agricultural products, for farmer unions, as well as fruit and vegetable producer groups.

  • loan amount – 5000 LVL – 700 000 LVL ( 2 000 000 LVL for farmer unions);
  • loan repayment period up to 24 months.

Funding is available for small, medium enterprises, agricultural producers and farmer unions, which have economically feasible business plans but cannot apply for funding because of increased risks.

Entrepreneurs are offered two types of loans:

  • investment loans (maximum amount of 1 000 000 LVL, but not more than 75% of total project cost);
  • current capital loans (maximum amount of 500 000 LVL).

SME Growth program, or program of Loans for micro, small and medium enterprises or farmer unions development.

Funding is available for small, medium enterprises, agricultural producers and farmer unions, which have economically feasible business plans but cannot apply for funding because of increased risks.

Entrepreneurs are offered two types of loans:

  • investment loans;
  • current capital loans (including credit line).

SME Growth program is also available for these  industries:

  • wholesale and retail trade;
  • renting of machinery and equipment ;
  • catering services;
  • administrative and support service activities;
  • education;
  • arts, entertainment and recreation;
  • computer and household goods repair and other services.

Loan cannot be granted to enterprises that are in financial difficulties or who have tax debts.

Micro-credit program supports micro-enterprises with less than 10 employees, with annual turnover or annual balance sheet not exceeding EUR 1.4 million. Support can also be applied if micro-enterprise is not yet established.

  • maximum amount of 10 000 LVL;
  • for current assets – up to 5000 LVL.

Program is open till July 2015.

The program aims to develop new business ideas by providing the necessary financial support for business start-up.

Any Latvian resident aged 18 and over, including unemployed persons who have expressed a desire to start a business or self-employment are eligible.

Existing enterpreneurs who want to start new activities (production of entirely new product or service) are also eligible.

The program supports projects up to 60 000 LVL.

The program area

Latvija: Kurzeme, Zemgale, Latgale;

Lietuva: Klaipedas, Telsu, Sauli,
Panevezyas, Utenas un Kaunas counties.

The program sets out the following priority objectives:

  1. Environmental preservation and conservation and efficient use of resources", whose mission is to improve and develop the cultural and natural heritage sites, services and products to increase the number of visitors to the program area, to improve the management of shared natural resources, as well as to restore the lands to the environmental problems in the program area.
  2. A stable and quality employment promotion and labor mobility support", whose mission is to create employment opportunities by encouraging entrepreneurship and increasing employment opportunities, improving labor mobility and skills. In order to improve the region's local and regional mobility program will support the development of road infrastructure.
  3. Promoting social inclusion and the fight against poverty and all forms of discrimination" is designed to improve the social infrastructure and services to promote social inclusion, as well as to improve the living conditions of the less developed communities and territories.
  4. Public institutions and persons involved in institutional capacity and improving the efficiency of public administration." Theme-based target selection will enhance the efficiency of public services, strengthening the competence and cooperation between the institutions.

Overall funding of the program is EUR 55 000 000, 00

Beneficiaries: National, regional and local authorities to set up institutions; planning regions and the bodies set up; Non-governmental organizations; public equivalent bodies.

The amount of aid: the ERDF co-financing rate Latvian project partners are 85% of the eligible costs of the project itself but the total eligible cost "ceiling" is not currently defined.

The program area

Programs eligible regions are located in Estonia, Finland, including the Åland Islands, Latvia and Sweden.

The eligible areas in Latvia cover Kurzeme, Riga, its metropolitan area ("core" regions), Vidzeme and Zemgale ("extra" regions).

The program aim is to promote the sustainable growth of the region, achieving a balance between economic and environmental interests. The program has identified four priority areas:

  1. Increasing the Competitiveness of SMEs", which will contribute to the Central Baltic sea region as a knowledge-based innovative regional economic development by supporting new businesses and promoting the region's small and medium-sized enterprises (SMEs) in entering international markets. In addition, the Programme focuses on youth entrepreneurial activities increase from the early school years, as well as building bridges between different generations of entrepreneurs.
  2. Environmental preservation and conservation of resources and the efficient use of them" target task is to jointly develop and introduce new, innovative methods and technologies to protect the Baltic Sea and to reduce pollution resulting from waste, hazardous substances and toxins in the inlet. The aim is also to maritime spatial planning and integrated coastal zone management, the protection of the region's total unique natural and cultural heritage, promote sustainable use of the marine ecosystem, as well as to improve urban planning and management.
  3. Promotion of sustainable transport and removing bottlenecks in key network infrastructures” in order to improve access to the region. This has a direct impact on the entire region's economic activity. This includes the purpose of supporting an integrated "green" multi-modal transport system planning, as well as to establish and develop a better urban environment in order to enhance regional sustainable urban development. In order to improve the region's regional and local mobility as well as to increase the attractiveness of the region in terms of attendance, program will support sustainable development of small ports in the Baltic Sea.
  4. Investments in education and training, including vocational training, in order to ensure the development of skills and life-long learning by developing education and training infrastructure" provides abundant region-building, strengthening local communities and improving human skills, knowledge and welfare of the people (especially young people and elder)

Overall funding for this program is EUR 65 650 000,00.

Beneficiaries: National, regional and local authorities to set up institutions; planning regions and the bodies set up; Non-governmental organizations; public equivalent bodies.

The amount of aid: the ERDF co-financing rate Latvian project partners are 85% of the eligible costs of the project itself but the total eligible cost "ceiling" is not currently defined.

The program area

Estonia: Lõuna-Eesti (southern Estonia) Lääne-Eesti (western Estonia);

Latvia: Kurzeme, Greater Riga Area, Riga, Vidzeme.

The program sets out the following priority objectives:

  1. Increase of competitiveness for small and medium-sized enterprises with the aim of promoting entrepreneurship in the region;
  2. Environmental protection and efficient use of resources with the aim of promoting the natural and cultural heritage preservation, protection, development and promotion of innovative technologies to improve environmental protection and resource efficiency;
  3. Promotion of sustainable transport. It is planned to support eco-friendly and low-carbon transport system development and improvement, including inland waterways and maritime transport, port, airport infrastructure to support sustainable local and regional mobility;
  4. Promotion of sustainable and quality employment and labour mobility support.

Overall funding for this program is EUR 38 020 684,00.

Beneficiaries: local and regional authorities; public authorities; non-governmental organizations; private companies; public rights-managed institutions.

The amount of aid: The aid ceiling is not currently set, but considering the previous programming period, an average of one eligible costs ranged from one to two million and the aid intensity for private companies was 50% of the total eligible costs of the project, but the rest of the proposers of up to 97% of the total project cost.

«Support for manufacturing of agriculture products, their primary processing, purchase of plants, fences»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 50%

«Support for processing of agricultural products and their primary processing in home conditions»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 50%

Programms open until 09.01.2014.

«Support for the instruction and education of local resident »

EU ELIGIBLE COSTS: 10 000 LVL

Co-financing for legal entities or individuals up to 50%, 10% for associations

«Support for manufacturing of agriculture products, their primary processing, purchase of plants, fences»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 50%

Programms open until 09.01.2014.

«Support for creating of associations that organise public activities for local residents»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 60%, 10% for associations

«Support for manufacturing of agricultural products and their processing and primary processing»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 50%

Programms open until 10.01.2014.

«Support for the launch of agricultural enterprise and its development»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 50%

«Support for manufacturing of agriculture products, their primary processing in home conditions»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 50%

Programms open until 09.01.2014.

«Support for manufacturing of agriculture products, their primary processing»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 50%

«Support for manufacturing of agriculture products, their primary processing in home conditions»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 50%

Programms open until 09.01.2014.

«Publicly accessible open space improvement»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 60%. 10% for associations

«Promotion of agricultural product development»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 50%

Programms open until 09.01.2014.

«Development of new social and household services for local residents»

EU ELIGIBLE COSTS: 10 000 LVL

Co-financing for legal entities or individuals up to 60%. 10% for associations.

«Support for organisation of public activities»

EU ELIGIBLE COSTS: 10 000 LVL

Co-financing for legal entities or individuals up to 60%. 10% for associations

«Support for conservation and development of local cultural environment»

EU ELIGIBLE COSTS: 10 000 LVL

Co-financing for legal entities or individuals up to 60%. 10% for associations

«Support for sports, technical innovation and other leisure activities»

EU ELIGIBLE COSTS: 10 000 LVL

Co-financing for legal entities or individuals up to 60%. 10% for associations

«Production, processing and primary processing of agricultural products in domestic environments»

EU ELIGIBLE COSTS: 20 000 LVL

Co-financing for legal entities or individuals up to 50%.

Programms open until 09.01.2014.

Legal address: Auduma street 33-2, Riga, Latvia, LV-1024
Actual address: Duntes street 34, Riga, Latvia, LV-1005
Email: info@invex.lv

Telephone: +371 67377787

INVEX FONDI SIA reg.no.50103557061, is a user of the trademarks no.M66864 - INVEX; no.M67912 - INVEX FONDI; no.M69293 (a round seal); no.M66388 (visual trademark). Rights of use are transferred on the basis of the contract no.01/01.01.20, which is concluded between the trademark owner PROFECTUS GROUP LLC reg.no.40103492416 and the user INVEX FONDI SIA.

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