Perspektyva
- Annex No. 1 to the description
- Annex No. 2 to the description
- Annex No. 3 to the description
Terms
Loans are granted for a period not exceeding 120 months. The borrower has the right to repay the loan before the maturity of the loan specified in the loan agreement without any additional fees.
Applications are evaluated in order of sequence by the date and time of their submission to INVEGA. INVEGA shall perform the evaluation of an application no later than within 60 business days, in case of a decision to grant a loan, shall send a loan agreement within 5 business days.
Loan applications are accepted until 30 April 2024.
Loans shall be granted (loan agreements shall be signed) in the period of application of the Block Exemption Regulation or de minimis Regulation, according to which a loan is granted.
How much?
Several loans may be granted to one borrower, but the total amount of loans may not exceed EUR 1 million.
After the borrower implements a project properly and repays INVEGA 80% of the loan and accrued interest, up to 20% of the loan amount outstanding will be able to be assigned as a subsidy. A subsidy shall be assigned only in case if the maximum possible amount of the de minimis and state aid is not exceeded.
A loan may be granted for the financing of a project only if at least one private investor is involved in the financing of the project. A private investor may participate in the project by granting a loan to the borrower to finance the project. The participation of a private investor also includes the participation of the borrower in the implementation of the project with its own funds.
A private investor must contribute at least 20% of the eligible costs to the implementation of the project, before the loan is disbursed. If the aid is granted to a business entity in accordance with the provisions of the de minimis Regulation, investments by a private financing party (paid-up project costs that are eligible costs) may be made no earlier than 6 months before the submission of a loan application.
Where aid is granted to a business entity in accordance with the provisions of the Block Exemption Regulation, the investment by a private financing party (paid-up project costs that are eligible costs) made before the loan application is submitted will not be considered proper participation of a private financing party in the project.
Up to EUR 38 million from the state budget of the Republic of Lithuania has been allocated for the implementation of the instrument in total.
How does it work?
You can apply for a loan if:
- You are a micro, small or medium-sized enterprise (SMEs) that meets the criteria set out in the SME Law or a large enterprise.
- The funded project activities give direct benefit to the Republic of Lithuania and contribute to:
a) creation of jobs in the Republic of Lithuania; and/or
b) creation of the production of goods and provision of services in the Republic of Lithuania and/or increasing their exports; and/or
c) payment of taxes, contributions (Sodra contributions) in the Republic of Lithuania (on the activities). - The State and/or the municipality does not have or has less than 25% of the enterprise’s shares, ownership interest or other interest in capital of the enterprise.
- You meet the minimum criteria for reliable taxpayers.
- You are not an enterprise in bankruptcy, restructuring or liquidation.
- You have not received any unlawful aid which has been declared unlawful and incompatible with the internal market by a decision of the European Commission, or you have repaid the full amount of such aid, including interest, in accordance with the procedure laid down in the legal acts.
- At the time of the application, you are not an enterprise in distress and you have submitted a set of financial statements for the past financial year to the Centre of Registers (not applicable to business entities operating for less than 1 year).
- You have provided all the required documents.