Instrument implemented Direct COVID-19 Loans

What are the benefits?

The main objective of the measure is to reduce the impact of the COVID-19 pandemic on businesses and entrepreneurs by providing loans to finance operating costs of businesses.

Who is eligible?

Small- and medium-sized enterprises (SMEs) and large companies can apply for the new measure.

Loans are provided to businesses that meet the criteria for assistance set by the Government of the Republic of Lithuania (Resolution No 499, subparagraph 2.1), with the main criterion being a drop in turnover of more than 30 % during the second quarantine period (1/11/2020-31/1/2021) and, in the case of new companies, a restriction on their activities.

Businesses applying for loans must meet the minimum reliable tax payer criteria at the time of submission of the application, and must have submitted the set of financial statements for the year 2019 to the Centre of Registers, which is used to assess whether, as at 31 December 2019, the applicants were not considered to be in difficulty. A borrower who, together with a group of companies (if the borrower is a member of a group of companies), was in difficulty as of the said date, but is not considered to be in difficulty at the time of the application, can also apply for a loan.

Please note that a borrower who is a very small or small enterprise is not considered to be in difficulty if it is not subject to collective insolvency proceedings and no rescue and restructuring aid is granted. Moreover, borrowers cannot be bankrupt or in the process restructuring, and must meet certain other requirements.

Borrowers who have already entered into a loan agreement but wish to change the terms, can submit a free-form application to INVEGA. Change fee is 100 EUR.

The loan must be applied for to INVEGA by submitting the application and related documents via the application system.

Agreement for direct COVID-19 loan borrowers

General terms and conditions;
Annex No 2 to the agreement.

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.


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.