• Structure and contacts
  • Structure
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  • Managment
• Activities
  • Directions of activity
  • Raports
• Services
  • Issuance of Guarantees
    • Issuance Conditions
    • Guarantee Fund
    • Leasing Guarantees
  • Partial Financing of Loan Interest
  • Soft loans
    • Administration of small loans
    • Open Credit Fund
    • Entrepreneurship Promotion Fund
  • INVEGA Fund
  • Support for the First Job
  • Export Credit Guarantees
  • Risk capital investments
• Links
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INVEGA administers the financing of loan interest. Since 2009, loan interests are financed from the European Union structural funds upon implementation of the support measure VP2-2.3-ŪM-02-V “Partial Compensation of credit interests” of the objective “Improve Access to Financing Sources for SMEs” under the Economic Growth Action Programme Priority 2 “Increasing Business Productivity and Improving the Business Environment”. The measure, financed by EU Structural Funds, is carried out by means of general subsidy, i.e., INVEGA, as the general subsidy manager and administrator of the measure, has obtained general subsidy funds for financing loan interests of SME entities.

INTEREST FINANCING TERMS AND CONDITIONS

A head of INVEGA makes decisions of partial financing of interest, non-financing of interest, or suspension of financing of interest. The decision of partial financing of interest or non-financing of interest shall be made not later than within 10 working days following registration in INVEGA of properly completed application form on partial financing of interest.

Procedure of a partial financing of interest of loans issued by credit institutions or financial lease (leasing) companies

If INVEGA guarantee is granted for loan repayment or a loan agreement performance, 50 perc. of loan interest, but not more than 5 perc. of annual interest is financed.
The maximal interest rate, a partial financing of interest whereof is calculated, amounts to 10 percent of annual interest.
Loan interest is reimbursed only if the loan is taken with INVEGA warranty (unless it is borrowed from the Entrepreneurship Promotion Fund).
Loans, taken by SME’s (both investment and working capital loans), should be allocated for business development. Loan interest is financed within the guarantee validity period, i.e., from the guarantee issue date to the guarantee repayment date, but no longer than 24 months in case of working capital loans and no longer than 36 months in case of investment loans.
In order to get a partial financing of loans interest, the loan amount cannot exceed 2.5 million LTL.
In case of multiple loans, loan interest is partially financed only if the initial amount of loans does not exceed 2.5 million LTL. Otherwise, interest of the last loan is not financed at all.

Since the beginning of 2012, when SME entities, which intend to purchase new equipment or facilities, get the opportunity to apply to leasing companies, that have entered into cooperation agreements with INVEGA on a lease with INVEGA guarantee, these SME entities will also be reimbursed 50 perc. of interest paid. A partial financing of interest will be implemented within the guarantee validity period, but no longer than 36 months.

Procedure of a financing of interest of the Entrepreneurship Promotion Fund’s loans

All the small and medium business (SMB) entities, having loans from the Enterprise Promotion Fund (EPF), who will pay interest from 1 November, 2010, to 30 September 2015, will be reimbursed 95 perc. of interest paid, but no more than 30 perc. of the principal amount. The maximal interest rate, a partial financing of interest whereof is calculated, amounts to 9.49 percent of annual interest.
Financing of loan interest is not subject to whether INVEGA warranty was granted for SME loans or not.
In case of entrepreneurship promotion loans, interest will be financed for a longer time than in case of common SME loans. Interest reimbursement will not be associated with the guarantee validity period or with a maximal 36-month term in case of investment loans and 24-month term – in case of working capital loans.
In order to get a partial financing of interest of entrepreneurship promotion loans, applicants must meet the selection criteria, i.e., a project operator must be SME entity during granting of the entrepreneurship promotion loan and decision-making on a partial financing of interest. To assure that, the project operator must declare its status – to fill the declaration on a small and medium business entity’s status (the form can be found or www.ukmin.lt or www.invega.lt).
If the entrepreneurship promotion loan is taken with INVEGA guarantee and upon decision of INVEGA to finance up to 50 perc. of interest paid (in accordance with the previous procedure), it is required to submit a new application form in order to respectively adjust previous decisions, by providing supplemental payment and additional de minimis support (there will be provided opportunities to receive application forms in credit unions which have granted respective promotion entrepreneurship promotion loans).

WHERE TO APPLY FOR LOAN INTEREST FINANCING?

Please submit to INVEGA the application of the established form on a partial financing of interest (to be sent by mail or delivered at INVEGA office). Application on a partial financing of interest must be completed and submitted to INVEGA once. It is valid within the entire interest financing period for a particular loan.
Application forms to be filled by entrepreneurship promotion loan receivers are posted on INVEGA website:
http://www.invega.lt/lt/paslaugos/dalinis-paskolu-palukanu-kompensavimas/dokumentu-formos.htm
INVEGA guarantee, a partial subsidy of guarantee fee and interests are de minimis business support forms.