Financial Support Loans for SMEs in Latvia

Support Programs – Providing Financial Support for Small and Medium Businesses
Small and medium-sized enterprises (SMEs) that provide many job opportunities are an important
part of our economy. Small and medium-sized businesses are always the biggest supporter of the
country's economies. SMEs must be supported in order for the country's economy to recover,
develop and gain momentum in a positive way. Support for SMEs always adds value to the national
economy. However, financing is required for the development of SMEs. In this article, we have
compiled the most important information about the fund support program and terms offered by
Swedbank. Thus, in this article, we will explain how to get SME support and what to do for SME
support application.

EaSI Support Program
Several years ago, a cooperation agreement was signed between Swedbank and the European
Investment Fund (EIF) to support micro and small businesses in Latvia, Lithuania and Estonia. Under
the EaSI support program, € 123 million will be funded and distributed to companies until 1 March
2021.

The purpose of this support program is to provide additional financial support to businesses that are
in the initial or development stage and to facilitate and increase access to finance. Under the EaSI
Support Program, companies can receive support for low interest unsecured loans and leasing.
Participation in the EaSI support program for companies is free of charge.
All micro and small businesses can participate in the EaSI support program. In other words,
companies with 10 employees, companies whose annual turnover or annual balance sheet total does
not exceed € 2m can benefit from this support. Also, freelancers can participate in this program.
The maximum loan or leasing amount guaranteed by EaSI is € 25,000, working capital can be
extended for up to one year and investment credit and leasing can be provided for up to 6 years.
There is no guarantee requirement for loans to companies.
If you are in compliance with the above application requirements, you can apply for SME support in
no time. Thus, you can take part in this program, which is prepared with the cooperation of the State
– Bank, by receiving SME support. You can benefit from both the advantages offered by the banks
and the financial support provided by the state. You can benefit from SME support, which is offered
with two different options, payback or non-payback.
With corporate loans and SME loans, you can make your future plans better. Thus, after providing
the necessary conditions to receive SME support, you can gradually grow your company from small
to medium level and from medium to large level. Be sure to apply for SME support loans so that your
company can provide better quality services. By working harder and with these SME support, you can
have a more spacious life.

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