Close Menu
    Latest Category
    • Finance
    • Tech
    • EU Law
    • Energy
    • About
    • Contact
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Login
    • EU News
    • Focus
    • Guides
    • Press
    • Jobs
    • Events
    • Directory
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Home » Europe to invest EUR 10m in micro-enterprises in the Baltic States

    Europe to invest EUR 10m in micro-enterprises in the Baltic States

    npsBy nps21 February 2020Updated:25 June 2024 No Comments2 Mins Read
    — Filed under: Estonia EU News Headline2 Latvia Lithuania
    Share
    Facebook Twitter LinkedIn Pinterest Email
    Europe to invest EUR 10m in micro-enterprises in the Baltic States

    Image by geralt

    (LUXEMBOURG) – The European Investment Fund (EIF) and Noviti Finance signed a EUR 10 million cooperation agreement Thursday to give micro-businesses in the Baltic States (Latvia, Lithuania, Estonia) better access to finance.

    The agreement is backed by the Employment and Social Innovation (EaSI) programme and by the Investment Plan for Europe. Noviti Finance will use this to give micro-businesses and farmers better access to funding of up to EUR 25,000 in all the Baltic States.

    The agreement was welcomed by the European Commission. “The European Investment Fund’s €10 million agreement under the Investment Plan for Europe with Noviti Finance means that small businesses with up to nine employees can benefit from loans of up to €25,000,” said EC vice-president Valdis Dombrovskis : “This financial boost gives micro-enterprises in Latvia, Lithuania and Estonia a real opportunity to thrive and expand.”

    Noviti Finance, a non-bank lender based in Lithuania, will use the guarantee instrument to support micro companies in all the Baltic States (Latvia, Lithuania and Estonia). The Investment Plan for Europe allows the European Investment Bank Group to invest in more and often higher-risk operations, while EaSI aims to improve access to finance for vulnerable groups, micro-enterprises and social enterprises.

    Linas Armalys, Director of Noviti Finance said: “The agreement with the EIF means that, from now on, funding will be available to even more small businesses, on more favourable terms, with lower interest rates and in most of cases without collateral or personal sureties. Small businesses will be able to use the financing as working capital, or for business development, thus effectively helping to grow and manage risks due to the EIF-EaSI guarantee.”

    Financing with the EIF-EaSI guarantee will be provided to companies with tenors of up to 24 months. Companies can apply for a loan with an EIF guarantee on Noviti Finance’s website www.noviti.lt.

    Add A Comment
    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    nps
    • Website

    Related Content

    Euro - ECB-Photo by Mika Baumeister on Unsplash

    Euro continues to hold its ground – Euro currency news daily

    CCBE logo

    Legal Advisor, Council of Bars and Law Societies of Europe, CCBE

    Chemical production nature clouds - Image by andreas N from Pixabay

    EU to set up Critical Chemical Alliance

    Bulgaria euro - Photo © European Union 2025

    Bulgaria takes its place as 21st member of the eurozone

    Cars CO2 emissions- Photo by Alexey Demidov on Pexels

    Brussels seeks views on CO2 emission standards for cars and vans, car labelling

    EU agenda - Image by Andreas Lischka from Pixabay

    EU Agenda: Week Ahead – 6-12 July 2025

    LATEST EU NEWS
    Euro - ECB-Photo by Mika Baumeister on Unsplash

    Euro continues to hold its ground – Euro currency news daily

    9 July 2025
    Chemical production nature clouds - Image by andreas N from Pixabay

    EU to set up Critical Chemical Alliance

    8 July 2025
    Bulgaria euro - Photo © European Union 2025

    Bulgaria takes its place as 21st member of the eurozone

    8 July 2025
    Cars CO2 emissions- Photo by Alexey Demidov on Pexels

    Brussels seeks views on CO2 emission standards for cars and vans, car labelling

    7 July 2025
    Farming soyabean - Image by Loren King from Pixabay

    Brussels authorises use of safe genetically modified soybean as food and animal feed

    4 July 2025

    Subscribe to EUbusiness Week

    Get the latest EU news

    CONTACT INFO

    • EUbusiness Ltd 117 High Street, Chesham Buckinghamshire, HP5 1DE United Kingdom
    • +44(0)20 8058 8232
    • service@eubusiness.com

    INFORMATION

    • About Us
    • Advertising
    • Contact Info

    Services

    • Privacy Policy
    • Terms
    • EU News

    SOCIAL MEDIA

    Facebook
    eubusiness.com © EUbusiness Ltd 2025

    Design and developed by : 

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?