UAB SME Bank to give up to EUR 100 mln to SMEs

Monday 22 November 2021 13:54 CET | News

Lithuania-based financial intermediary UAB SME Bank has signed a guarantee agreement with the European Investment Fund to bring up to EUR 100 million financing to Lithuanian SMEs.

The agreement is made possible under the European Guarantee Fund, an initiative of the EIB Group and Participating EU Member States to help European businesses come through the difficult times caused by the COVID-pandemic. 

With the EGF support, The European Investment Fund will provide a 70% guarantee on a portfolio of new lending totalling up to EUR 100 million by SME Bank, while also making it possible for the financial institution to offer enhanced conditions to its borrowers.

By channelling guarantees to both traditional and alternative finance providers, the EGF-guarantee wants to help to make available new, advantageous lending to Lithuanian SMEs.

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Keywords: SME lending, funding, investment
Categories: Banking & Fintech
Countries: Lithuania
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Banking & Fintech

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