Loan To Start A Business

The aim of the loan is to facilitate engagement of Latvian inhabitants in business
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Purpose: investments and inventory
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Amount: from 2 000 to 150 000 EUR
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Term of up to 10 years; for projects related to the purchase, construction and renovation of immovable property - up to 15 years
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Annual interest rate: fixed 3–7% + the resources fee of the State Treasury
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Owner contribution in the project:
- loan up to 7 000 EUR – 0%
- loan more than 7 000 EUR – 10% of the project amount (financing not related to state aid)
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Pledge: property of the company as a collectivity of things, including fixed assets acquired using the loan. Another property and owner’s guarantees can serve as an additional security:
- up to 25 000 EUR, the acquired object serves as a pledge
- more than 25 000 EUR, the value of pledge has to be at least 74% or more of the loan
- private guarantee: depending on the value of pledge 30% or 100% of the amount of granted loan
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An entrepreneur do not have to establish a company to validate availability of a loan
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Aid is provided as de minimis support in line with Commission Regulation (EU) No. 1407/2013 of 18 December 2013. Cabinet of Ministers Regulations No. 328 as of 31 May 2016 “Regulations on Micro-Loans and Loans-to-Start” are the provisions regulating the programme.
Contact us for more information
ALTUM branches

HOSTEL TREE HOUSE, Gunta Feifere

SEMIKOLS RECORD PRESSING, Aleksandrs Galperovičs

Fine Automobile, Roberts Cimermanis

Trikātas piens, Rolands Putniņš

KANTTARI, Renāts Kotļevs, Agnese Stalte

Amberdent Clinic, Agnis Upītis un Elīna Rubeze-Upīte

Custom 3D, Jānis Jātnieks

Valtera restorāns, Valters Zirdziņš

Autine, Matīss Nīmanis

ROBO HUB, Felicita Zatlere-Kotāne

Giraffe 360, Mikus Opelts

Cherry Picking

KnK Coating
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