Ūkio bankas will extend loans to businesses

Ūkio bankas will extend loans to businesses

Ūkio bnakas starts accepting businessmen’s applications to issue small loans. The Bank will extend credits to small and medium-sized companies using the funds received in implementing the Government’s business promotion programme. To implement it, the Ministry and Economy together with the company Investicijų ir Verslo Garantijos announced a competition.

In total, Ūkio bankas will lend nearly LTL 13 million. Out of this amount, LTL 10 million are allotted by the Government and LTL 2.5 million – Ūkio bankas.

“We want to make our contribution to business revival programmes initiated by the Government. We are well aware of our colleague businessmen’s fears concerning the future but we believe that our joints works will help all of us get stronger,” Gintaras Ugianskis, chairman of Ūkio bankas Board, said.

Apart from Ūkio bankas, the Ministry of Economy and the company Investicijų ir Verslo Garantijos, Šiaulių and Medicinos banks also won the competition. More than LTL 20 million will be allotted for small loans in total.

The set maximal bank margin is not higher than 3.1 percent. These loans will be charged attractive fees of administration.

The recipients of small loans are micro, small and medium-sized companies registered and pursuing their main activities in Lithuania.

One borrower can receive only one small loan. Small loans will be granted to finance investment or working capital. The maximal loan amount is LTL 175 thousand.

Ūkio bankas will accept applications in all Bank’s branches. The Bank holds its branches in Vilnius, Kaunas, Panevėžys, Ukmergė, Šiauliai, Klaipėda, Alytus, Marijampolė, Kėdainiai, Raseiniai, Šilutė, and Jurbarkas.

As noted by Ūkio bankas Board chairman Ugianskis, the Bank will focus on small and medium-sized enterprises working in the regions.

The Bank plans to adopt a decision to issue or refrain from issuing a loan in 2 to 4 weeks from the submission of the application along with the required documents.

Banks will have to lend the funds received for small loans to businesses in 10 weeks.

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