Access to finance

The Law on Small and Medium Size Business Development of the Republic of Lithuania that came into force on 1 January 2008 defines the types of small and medium size businesses, the forms of state aid available to them and other important relevant provisions.

Administration rules regarding programme funds from the Ministry of Economy of the Republic of Lithuania, provided for the financing of project activities and the forming of capital [LT]

Resources

The private limited liability company "Investicijų ir verslo garantijos" (INVEGA), founded in 2001, guarantees to the bank a part of the loans (up to 80%) they make to small and medium size business (SME) and repays up to 50% of the interest of a guaranteed loan. This encourages banks to lend to enterprises as it reduces the risk of financial loss. A new measure of financial support to enterprises - microcrediting - was first implemented in 2006.

Financial engineering measures [LT]

"Investicijų ir verslo garantijos"

This institution also supports the preparation of information publications, consultations and training projects, as well as the creation of business information databases. It also provides partial financing for other business support measures.

Provision of support [LT]

Personalised help and advice

The Enterprise Europe Network provides businesses with information and advice through its local partners.

Enterprise Europe Network – contact points – Lithuania

Source: European Commission