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Open Credit Fund (OKF)

 

The credits / credit lines are provided from funds that have been granted after the Bank won the Open Credit Fund tender announced by the Ministry of Economy and Investicijų Ir Verslo Garantijos UAB (INVEGA) under the Plan for Promotion of Economic Growth.

 

Terms and conditions of the credit:

• Maximum amount of credit: up to EUR 579,240;
• The credits may be granted for a period not exceeding 72 months, but the final maturity of the credit shall not be later than 31/12/2020;
• requirements for credit repayment schedule:
-  at least 25 percent of the credit must be repaid no later than within 24 months from the date of conclusion of the credit agreement;
-  at least 75 percent of the credit must be repaid no later than within 48 months from the date of conclusion of the credit agreement.
• In 12 months one credit receiver may be granted no more than two credits/ credit line;
• The projects shall be implemented only in the territory of Lithuania;
• The credit is granted in euro; 
• The credits can be used to finance investment of companies or for  supplementing the working capital;
• The collateral may be the mortgage of real estate or other property or the guarantees provided by Investicijų ir Verslo Garantijos, UAB (Investment and Business Guarantees) (INVEGA). The real estate or personal property offered for mortgage must be evaluated by independent property evaluators.
• Interest rates: 3-month EURIBOR + 0.1 % (but no more than 3 % per annum) plus 3 % of Bank interest margin. 

 

Terms and conditions of the credit line:

• Maximum amount of credit line: up to EUR 579,240;
• The credits may be granted for a period not exceeding 72 months, but the final maturity of the credit shall not be later than 31/12/2020;
• In 12 months one credit receiver may be granted no more than two credits/ credit line;
• The projects shall be implemented only in the territory of Lithuania;
• The credit is granted in euro;
• The collateral may be the mortgage of real estate or other property. The real estate or personal property offered for mortgage must be evaluated by independent property evaluators.
• Interest rates: 3-month EURIBOR + 0.1 % (but no more than 3 % per annum) plus 3 % of Bank interest margin.

 

Credit receivers

SMEs registered in Lithuania, in accordance with the definition of micro, small and medium-sized enterprises laid down in the Law on Development of Small and Medium-sized Enterprises (for group of companies the following data shall be consolidated): 
- Number of employees: up to 250;
 - Annual income: up to EUR 40 million;
 - Balance sheet value of the property: up to EUR 27 million.

 

Credits are not available for the following purposes

The funds intended for the credit are not allowed to be used to cover the financial obligations of a credit receiver or other undertaking to the Bank
or other economic entities, i.e. refinancing liabilities of financial institutions and other business entities.

 

How to receive a credit from the OCF funds?

If you have decided to take a credit from the OCF funds, please call the informationline  and arrange for a meeting with a Bank specialist or fill in
the application and arrive at the nearest Bank's branch, customer service centre or subdivision for a consultation. Please be sure to bring the
documents indicated in the credit application.
Fill in the credit application (in lithuanian) (PDF format)
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Fill in the credit application (in lithuanian) (WORD format)

 

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