Banks, Financial Services, Investments, Lithuania

"The INVEGA guarantee applied to production equipment and facilities purchased by SMEs in lease will be beneficial for both sides – the financial leasing company as well as the small and medium-sized enterprise, to which the initial instalment will be reduced to 10 per cent of the price of equipment," INVEGA Director General Audrius Zabotka.

Mindaugas Rudys, Director General and Chairman of the Board of Siaulių Banko Lizingas is glad about finally signed agreement which is to open the new opportunities to our business companies: "Possibility to use the INVEGA guarantee will encourage our current and future clients to update their facility base, to invest into new technologies, thus, to increase the competitive advantage of the Lithuanian business. Besides, we hope that already started investment projects will be speeded up.", writes LETA/ELTA.

The INVEGA undertakes paying to the leasing company under the granted leasing guarantee in case of the bankruptcy or termination of business of the recipient of leasing the leasing company fails or, because of the objective reasons, is likely to fail recovering the total amount of leasing from the leased property, recipient of leasing and other provided collateral ensuring the repayment of the leased amount.