Banks, Financial Services, Funds, Good for Business, Latvia
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 02:56
New Opportunities for Business Financing: Rietumu Has Concluded an Agreement with ALTUM
Now the bank’s clients will be able to avail of the
opportunities provided by ALTUM programmes and get access to
new financial resources in order to establish and develop their businesses.
Development
finance institution ALTUM provides
support to specific target groups via state financial support instruments. For
example, to small and medium-size enterprises, startups, agricultural
businesses, private individuals – within the framework of certain support
programmes. Supplementing commercials banks services, ALTUM grants loans, credit guarantees; performs insurance of export
transactions and investments in venture capital funds.
“Our
cooperation with ALTUM opens excellent prospects for Rietumu Bank clients. Borrowed resources will become more
accessible to them, providing additional opportunities for the implementation
of good ideas, launching new projects, modernisation and development of
production, increase of turnover, growth of export potential and profitability.
In turn, the bank will continue to actively develop lending for business
projects in Latvia, the Baltic countries and the EU,” said the Head of Rietumu Bank’s Lending Department Arthur Juksh.
Rietumu Bank’s clients will be able to use various programmes
of ALTUM such as, in particular,
parallel loan financing up to EUR 5 million to cover the costs involved in the
manufacturing of new products, expansion or restructuring of production, etc.;
guarantees for receiving a bank loan of up to 80% of the loan amount; export
guarantees, etc.
More
information about ALTUM programmes can be found here