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Guarantees to large companies | Covid-19

For viable companies that need financing due to the Covid-19 spread, in order to renew, maintain or promote competitiveness and increase turnover, including export

  • Support can be granted to large companies* whose:

    • export in the previous two years reached at least 30% of turnover

    or

    • planned export in the coming two years is at least 50% of turnover, if the company’s operations are moved to Latvia from a territory outside EEA, or the company has started operations in Latvia

    • who may prove a negative Covid-19 impact

    • Loan for making investments

    • Loan for financing current assets, including credit limits (credit lines and overdrafts)

    • Financial leasing, financial leasing limits

  • Up to 25% of 2019 annual turnover:

    • For new companies – up to EUR 15 million  

    • For existing companies – the minimum financial service balance for deferred principal amount is EUR 10 million, while the maximum guarantee is EUR 15 million

  • Amount is 70% or 90% (depending on the guarantee premium):

    • For new companies – from unpaid principal amount

    • For existing companies – from deferred principal amount

  • Maturity term is 6 or 8 years

  •  

    *A company is considered a large company if at least one of the criteria is met: 1) more than 250 employees or 2) more than EUR 50 million in consolidated turnover and more than EUR 43 million in consolidated balance value

    Regulations on guarantees for large companies that have been affected by Covid-19 outbreak