Direct COVID-19 Loans
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What is the maximum amount?
EUR 36 million has been allocated for the implementation of the measure from the state budget of the Republic of Lithuania.
Only one loan may be granted to one borrower, which may not exceed the average monthly turnover and in any case may not exceed EUR 100,000. In addition, in accordance with the regulations of the European Commission, the amount of the loan may not exceed double annual wage bill (including tax) of the borrower’s employees or 25 per cent of the borrower’s turnover in 2019.
The average monthly turnover calculation period is determined and the loan amount is calculated according to the methodology approved by INVEGA and the loan amount calculator prepared according to this methodology.
Direct loans are provided on preferential terms, i.e., at reduced interest, which depends on the loan period and status of the borrower. The highest interest rates can be up to 0.69 % for SMEs and up to 1.69 % for large companies.
There are no contract conclusion and administration fees, but a EUR 100 fee will apply to contract modifications. The loan or part of it can be repaid earlier without additional fees.
Terms
Term of aloan: up to 72 months (including the cases where the deadline is extended).
The call will be suspended on 1 November 2021, at 23:59, or upon the allocation of the amount earmarked for the measure.