OCDE - Financing SMEs and Entrepreneurs 2026 - Lituania de 2026

 1

FINANCING SMES AND ENTREPRENEURS 2026: LITHUANIA © OECD 2026

Key facts on SME financing After two years of stagnation, Lithuania’s economy showed resilience in 2024, with GDP growth of 2.7%. This economic recovery was broad-based, with value added increasing across many economic activities. As debt-servicing costs declined amid falling interest rates, financial liab ilities of businesses increased rapidly; however, due to strong growth in financial assets, net financial assets of Lithuanian NFCs rose. SMEs account for 99.6% of all enterprises operating in Lithuania, the majority of them (86.8%) being microenterprises. Most SMEs are primarily engaged in wholesale or retail trade activities (more than one-fourth of all SMEs). SMEs account for around 68% of total employment, while their share of gross v alue-added is close to 54%. Driven by rising demand for loans amid decreasing interest rates, NFC bor rowing in Lithuania began gaining momentum in 2024, with banks expecting a further increase in demand for corporate loans. The loan portfolio of firms grew at an annual rate of 19.5% at the end of the second quarter of 2025, driven by lending to real estate and manufacturing companies and accompanied by a recovery in lend ing to the transport sector. Business indebtedness increased slightly from the low reached i n 2023, but the MFI (Monetary Financial Institutions) creditto-GDP ratio remained one of the lowest in the euro area. The number of companies with loans from credit institutions remained largely unchang ed, as companies continue to face structural difficulties when seeking to borrow from credit insti tutions. As a result, internal resources remain their main source of funding. The Bank Lending Survey of Lietuvos bankas indicates that although the share of rejected or partially granted corporate loan applications increased slightly in the first half of 2025, the same period recorded the first overall easing of lending standards in more than three years, albeit modes t. Overall, banks

The Bank Lending Survey of Lietuvos bankas indicates that although the share of rejected or partially granted corporate loan applications increased slightly in the first half of 2025, the same period recorded the first overall easing of lending standards in more than three years, albeit modes t. Overall, banks currently view the financial situation of companies as stable or improving. In 2024, companies increased their short-term financing mainly through accounts payable and trade credits, while their long-term financing needs were met by increased MFI lending and loans from other NFCs. Companies are increasingly turning to alternative sources of financing, the range an d demand for which have expanded in recent years, with bond issuance and crowdfunding platforms playing a more prominent role. The government supports SMEs by ensuring favourable conditions for obtaining the financing needed to start and develop their businesses. When a company does not have sufficient collateral, it can apply to the national development bank ILTE (formerly INVEGA), which provides various options, inc luding loan guarantees, factoring, leasing, and export credit guarantees. ILTE also offers preferential l oans through alternative financing instruments, including crowdfunding, as well as loans at preferential rates via venture capital–related funding schemes. In addition, municipalities provide various support s chemes for SMEs; for example, when starting a business, entrepreneurs can receive support to cover set-up costs, part of interest payments, and other expenses. To mitigate the impact of the crisis caused by Russia’s large-scale aggression against Ukraine, direct loans to business entities affected by the war have been introduced. Lithuania2 

FINANCING SMES AND ENTREPRENEURS 2026: LITHUANIA © OECD 2026

Table 1. Scoreboard for Lithuania Indicator Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Debt Outstanding business loans, SMEs EUR billion

Indicator Unit 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Debt Outstanding business loans, SMEs EUR billion

3.14 3.23 3.40 3.72 3.92 3.67 4.39 4.79 5.79 6.16 6.69 Outstanding business loans, total EUR billion 9.86 7.98 6.82 6.91 7.05 6.83 7.53 7.61 8.31 8.83 9.25 8.70 7.40 8.40 9.87 10.26 11.51 Share of SME outstanding loans % of total outstanding business loans

41.74 42.44 40.91 42.13 42.38 42.18 59.41 57.02 58.66 60.02 58.12 New business lending, total EUR billion 6.40 2.08 2.76 3.76 4.56 4.74 4.80 3.99 3.97 4.84 4.44 3.78 3.00 4.80 5.33 5.11 5.48 New business lending, SMEs EUR billion 4.34 1.33 1.89 2.45 2.95 3.21 3.08 2.40 2.73 2.95 2.63 2.28 2.02 3.36 3.48 3.64 3.89 Share of new SME lending % of total new lending 67.80 63.84 68.46 65.19 64.65 67.56 64.07 60.05 68.85 60.97 59.16 60.48 67.40 69.87 65.36 71.18 70.89

Share of short-term SME lending % of total SME lending 22.44 22.45 19.87 19.15 Government guaranteed loans, SMEs EUR billion 0.15 0.22 0.24 0.22 0.19 0.26 0.32 0.36 0.37 0.35 Non-performing loans, total (NFCs) % of all business loans

10.31 8.39 6.25 5.04 4.05 2.95 3.52 1.74 1.48 1.45 1.38 Non-performing loans, SMEs % of all SME loans

17.54 14.11 11.18 8.59 6.60 4.83 4.88 2.16 1.87 1.64 1.79 Interest rate, SMEs % 6.72 5.06 4.64 5.04 4.04 3.45 3.27 3.13 2.76 2.80 3.29 3.30 3.17 2.89 3.50 6.03 5.99 Interest rate, large firms % 6.27 4.32 3.90 4.17 3.24 2.74 2.66 2.35 2.18 2.16 2.56 2.91 2.81 2.60 3.40 6.12 6.13 Interest rate spread Percentage points 0.45 0.74 0.74 0.87 0.80 0.71 0.61 0.78 0.58 0.64 0.73 0.39 0.36 0.29 0.10 -0.09 -0.14 Collateral, SMEs % of SMEs needing collateral to obtain bank lending 69.80 62.10 69.00 64.50 64.40 67.70 69.90 61.20 38.90 67.30 78.49 96.00

Collateral, SMEs % of SMEs needing collateral to obtain bank lending 69.80 62.10 69.00 64.50 64.40 67.70 69.90 61.20 38.90 67.30 78.49 96.00 Percentage of SME loan applications SME loan applications/ total number of SMEs 36.33 27.10 27.70 26.72 41.67 42.12 26.48 45.10 Rejection rate 1-(SME loans authorised/ requested)

15.40 30.80 11.34 11.23 24.28 11.94 3.33 23.48 27.94 32.53 9.00 8.00 21.70 34.10 Non-bank finance Venture and growth capital EUR million 219 173 94.7 474 411 297 128 Venture and growth capital (growth rate) %, Year-on-year growth rate -21 -45.3 400.5 -13.3 -27.7 -56.9 Leasing and hire purchases EUR million

1.76 1.55 1.45 1.53 1.52 1.66 2.11 2.46 2.95 3.00 2.81 3.00 3.41 3.69 3.92 Factoring and invoice discounting EUR million

150.8 200.4 231.5 348.0 358.8 406.6 434.3 517.2 464.0 453.1 220.4 337.7 428.6 380.1 409.0 Other indicators Payment delays, B2B Number of days

3 3 2 16 12 12 13

Other indicators Payment delays, B2B Number of days

3 3 2 16 12 12 13 Bankruptcies, SMEs Number 957 1 844 1 637 1 274 1 401 1 554 1 686 1 983 2 741 2 979 2 091 1 609 790 808 1 193 1 018 1 144 Bankruptcies, SMEs (growth rate) %, Year-on-year growth rate 57.92 92.69 -11.2 -22.2 9.97 10.92 8.49 17.62 38.22 8.68 -29.8 -23.1 -50.9 2.28 47.65 -14.7 12.38

Source: See Table 2. 3

FINANCING SMES AND ENTREPRENEURS 2026: LITHUANIA © OECD 2026

Macroeconomic and financing conditions After two years of stagnation, Lithuania’s economy showed resilience in 2024, wit h GDP growth of 2.7%. This economic recovery was broad-based, with value added increasing across many economic activities. However, manufacturing as well as trade and transport activities were the main contributors to the increase in economic activity in the first half of 2024. With inflation subdued, a favourable labour market situation and positive household sentiment fuelled the recovery in household consumption. Despite escalating trade and other geopolitical tensions in the first half of 2025, the Lithuanian economy remained resilient, and the risk of a more significant economic downturn i s mitigated by the fact that Lithuania’s direct dependence on trade with th e USA is relatively lower than that of other EU countries. Economic development was positive in the first half of 2025, supported by strong domestic demand, rising purchasing power, and investment, and GDP is expected to grow by 2.9% in 2025. Investment will benefit from the waning effects of previously tightened monetary policy and from EU support fund inflows.

Economic development was positive in the first half of 2025, supported by strong domestic demand, rising purchasing power, and investment, and GDP is expected to grow by 2.9% in 2025. Investment will benefit from the waning effects of previously tightened monetary policy and from EU support fund inflows. With inflation in the euro area gradually declining towards the 2% monetary policy target, interest rate cuts continued in the first half of 2025. Inflation in the euro area stood at 2.2% in March 2025 , broadly unchanged from six months earlier, while in Lithuania average annual inflation is projected to reach 3.3% in 2025 before declining in 2026. In Lithuania, most NFC loans are granted at variable interest rates. The majority of borrowers experienced decreasing key interest rates, leading to lower debt-servicing costs. As debt-s ervicing costs declined, financial liabilities of businesses increased rapidly; however, due to str ong growth in financial assets, net financial assets of Lithuanian NFCs rose by EUR 20 billion (30% annual growth) in the third quarter of

2024. In the first quarter of 2025, corporate liabilities grew by 8.5%, mainly driven by increased financing through long-term and short-term loans from banks and other non-financial corporations, as well as a ris e in the portfolio of short-term trade credit. With liabilities growing moderately, net financial assets grew faster: net financial assets of non-financial corporations increased by EUR 21 billi on (annual growth of 13%), largely due to investments in unlisted shares, short-term loans granted, and trade c redits. The MFI corporate loan-to-GDP ratio has slightly increased since mid-2023 but remains one of the lowest in the euro area (15.7%) after almost a decade of decline.

SMEs in the national economy SMEs account for the vast majority of all enterprises operating in Lithuania. Ac cording to Statistics Lithuania, 1 16 533 SMEs operated in Lithuania at the beginning of 2024 , accounting for 99.6% of all

SMEs in the national economy SMEs account for the vast majority of all enterprises operating in Lithuania. Ac cording to Statistics Lithuania, 1 16 533 SMEs operated in Lithuania at the beginning of 2024 , accounting for 99.6% of all enterprises in the country. This number grew by around 24% over the past five years, but its share of total enterprises remained broadly unchanged. The majority of SMEs are micro-enterprises (86.8%). Over the last five years, the number of micro-enterprises increased by almost 29%, and their share among all SMEs grew by 3 percentage points. SMEs remain the most significant contributor to the domestic economy, generating around 54%1 of gross value added and contributing to half (51%) of domestic exports of goods. In 2024, S MEs employed about 68% of all persons employed in Lithuania. SMEs are largely concentrated in the trade sector. Slightly more than a quarter of all SMEs operate in the retail and wholesale sectors, and these sectors account for around 21% of all SME employees. The manufacturing, construction, and transport sectors are als o relatively large, as the share of employees’ accounts for 18.7%, 13.2%, and 12.3% of all SME employees, respectively. The share of other economic branches is much smaller. SMEs play a significant role in investment as well. In 2024 , SMEs’ investments amounted to 6 1% of all tangible investments among enterprises. Even though from 2017 to 2024 SMEs’ tangible investments has4 

FINANCING SMES AND ENTREPRENEURS 2026: LITHUANIA © OECD 2026

increased by 66%, the SMEs role in total investment is decreasing: this share has decreased by nearly 10 percentage points in the same period. Table 2 Distribution of firms in Lithuania, 2024 Class size Number of enterprises % Share Micro 101 545 86.8 Small 12 516 10.7

percentage points in the same period. Table 2 Distribution of firms in Lithuania, 2024 Class size Number of enterprises % Share Micro 101 545 86.8 Small 12 516 10.7 Medium 2 472 2.1 Large 457 0.4

Source: Statistics Lithuania.

SME lending Driven by rising demand for loans amid decreasing interest rates, NFC borrowi ng in Lithuania is gaining momentum, with banks expecting a further increase in demand for corporate loans. The loan portf olio of firms grew at an annual rate of 19.5% at the end of the second quarter of 2025, driven by lending to manufacturing and real estate companies and accompanied by a recovery in lending to the transport sector. The total quarterly loan flow was more than 25% higher than a year earlier, largely due to higher average loan values. The Bank Lending Survey of Lietuvos bankas indicates that, amid falling interest rates, demand for corporate loans continued to grow moderately in the second quarter of 2025 and i s expected to increase further, especially in the SME segment. With the average loan amount increasing, flows of new loans to companies continued to grow (annual change of 5%), but the number of companies with loans from credit institutions remained largely unchanged in 2024. The majority of corporate loans (76% of the portfolio) were iss ued to companies registered in the counties of Vilnius and Kaunas, and both counties stand out significant ly from the others in terms of the ratio of the loan portfolio to the gross value added created in the county (thei r average is 24%, compared with 14.2% in other counties). Although business indebtedness increased slightly from the lowest point r eached in 2023, the MFI creditto-GDP ratio remained one of the lowest in the euro area. The volume of bank c redit provided to nonfinancial corporations remains low relative to Lithuania’s economic growth, and companies face difficulties when seeking to borrow from credit institutions, as the banking sector’s risk appetite for l ending to

to-GDP ratio remained one of the lowest in the euro area. The volume of bank c redit provided to nonfinancial corporations remains low relative to Lithuania’s economic growth, and companies face difficulties when seeking to borrow from credit institutions, as the banking sector’s risk appetite for l ending to companies has declined significantly over the last decade. A survey by the European Investment Ban k indicates that in 2024 the share of finance-constrained companies in Lithuania (around 13%) was one of the highest in the EU. This issue was more pronounced for micro and small enter prises, where the share stood at around 19%, while for medium-sized and large firms the situation was significantly better at 11%. The share of firms that rely primarily on internal funds remains one of the low est in the EU, indicating structural issues in access to external finance. Smaller firms cite rejected loan a pplications or receiving less financing than initially sought, mainly due to high collateral requirements. Lithuanian SMEs most frequently choose trade payables, loans from other NFCs , and other non-bank sources to finance their activities. Nevertheless, lending to SMEs plays an importa nt role for banks operating in Lithuania. By the end of 2019, loans granted to SMEs accounted for 42% of the total portfolio of loans to non-financial enterprises. This share increased by 17 percentage points in 2020 and remained elevated in 2023 and 2024 (60% and 58.1%, respectively). This increase was driven not only by lower loan demand from large companies but also by structural changes in the NFC loan portfolio. W hen the first quarantine began in Lithuania, NFC borrowing weakened: while the SME loan portfolio remained relatively stable, a sharper decline was observed in the loan portfolio of larger enterpris es. The decline in the NFC 5

FINANCING SMES AND ENTREPRENEURS 2026: LITHUANIA © OECD 2026

loan portfolio in 2020 was mainly driven by heightened uncertainty, postponed inv estments, sales of reserves, and state support measures. Credit conditions

FINANCING SMES AND ENTREPRENEURS 2026: LITHUANIA © OECD 2026

loan portfolio in 2020 was mainly driven by heightened uncertainty, postponed inv estments, sales of reserves, and state support measures. Credit conditions With inflation in the euro area declining towards 2% and the ECB lowering its key interest rates, the 6month EURIBOR fell from a peak of 4.1% in October 2023 to 2.1% in April 2025. Therefore, interest rates on new MFI loans to non-financial corporations have decreased significantl y (by around 2 percentage points) during this period and in April 2025 stood at 4.5% for SMEs and 4.6% for large firms . After the 2008 –09 global financial crisis, the interest rate spread between new small a nd large loans fluctuated between 0.6–0.8 percentage points. However, since 2019 this difference has been contracting, and in 2022 the interest rates on small loans (below EUR 1 million) were just 0.2 percentage points higher than those on large loans (above EUR 1 million), at 3.62% and 3.43%, respectively. This c onvergence could be partly attributed to the wide range of state support available to SME s (e.g., government loan guarantees), which can reduce their credit risk. Another contributing factor may be a slight decrease in concentration in lending to the SME segment, together with the increasing inv olvement of smaller market participants in the credit market over the past few years. Notably, during the 2023 i nterest rate hiking period, the lending rate spread reversed sign, with SMEs borrowing at slightly lower interest rates than large firms. Due to government guarantees for SME loans, interest rates for some SMEs may be less sensitive to interest rate hikes, leading to asymmetric interest rate pass-through acr oss firm sizes. Moreover, lending to larger firms is more closely linked to market funding condi tions, and repricing therefore occurs more frequently.

large firms. Due to government guarantees for SME loans, interest rates for some SMEs may be less sensitive to interest rate hikes, leading to asymmetric interest rate pass-through acr oss firm sizes. Moreover, lending to larger firms is more closely linked to market funding condi tions, and repricing therefore occurs more frequently. The Bank Lending Survey of Lietuvos bankas indicates that although the share of rejected or partially granted corporate loan applications increased slightly in the first half of 2025, the same period recorded the first overall easing of lending standards in more than three years, albeit modest. Banks considered the financial health of companies in the accommodation and food services sector to be the weakest, while assessments of construction and transport firms have been improving since the end of 2024, according to the Bank Lending Survey. Overall, banks currently view the financial situation of companies as stable or improving. Alternative sources of SME financing SMEs operating in Lithuania mainly tend to use traditional funding sources, i.e. own funds, trade credits, loans, and financial leasing. More than half of the companies do not use loans from financial institutions at all, the main reason being a reluctance to borrow. Companies also indicated th at state aid measures and EU funds were significant sources of finance. Companies are increasingly turning to alternative sources of financing, the range and demand for which have expanded in recent years. In 2024, MFI credit accounted for 17.1% of total corporate liabilities, down from 27% in 2014. Internal resources remain the main source of financing for companies, and with limited access to traditional financial products, alternatives to loans from credit insti tutions are increasingly being sought. In 2024, companies increased their shortterm financing mainly through accounts payable and trade credits, while their long-term financing needs were met by increased MFI lendi ng and loans from other NFCs. In 2024, Lithuanian NFCs raised nearly EUR 460 million through bond issuance and EUR 280 million through crowdfunding platforms. This amount accounted for nearly 21% of the financing provided by credit

trade credits, while their long-term financing needs were met by increased MFI lendi ng and loans from other NFCs. In 2024, Lithuanian NFCs raised nearly EUR 460 million through bond issuance and EUR 280 million through crowdfunding platforms. This amount accounted for nearly 21% of the financing provided by credit institutions to companies. The national development bank UAB ILTE is partiall y contributing to reducing the shortage of financing for companies, as it allocated around 63% (EUR 289 million) of its business funds6 

FINANCING SMES AND ENTREPRENEURS 2026: LITHUANIA © OECD 2026

to SMEs in 2024. The role of UAB ILTE is expected to increase significantly in 2025–2026 due to the Billion for Business financial instrument, which is expected to provide approximately EUR 1 billion in direct loans to eligible companies, i.e. firms undertaking projects that promote decarbonisation, energy efficiency, lowwaste or high value-added production, as well as projects in the defence and security sectors. Venture capital (VC) investments grew significantly in 2018. Due to economi c disruptions caused by the pandemic, the flow of new VC investments dropped significantly in 2020. Nevertheless, despite a poor investment environment, Lithuanian companies managed to attract around EUR 411 million in investments in 2022 and EUR 296 million in 2023, after the peak of EUR 470 in 2021. While investment flows declined in 2024 compared to previous years, this was mostly due to the absence of late-stage investmen ts. Table 3. Venture capital investments by investment stages in Lithuania, 2017–2024 (millions of euros) Investment stage 2017 2018 2019 2020 2021 2022 2023 2024

EUR 0—1.0m (pre-seed) 4.7 9.4 16.9 14.4 26.6 18.9 11.0 11.1 EUR 1.0—4.0m (seed) 18.3 12.6 27.9 19.0 40.9 23.8 25.5 39.7 EUR 4.0—15.0m (series A) 14.1 20.2 4.5 39.4 65.3 46.0 27.7 60.5 EUR 15.0—40.0m (series B) 0 16 0 18.2 41.4 31.8 50.0 20.0 EUR 40.0—100m (series C) 0 50.0 0 0 45.5 291 182.0

EUR 100—249.9m 0 110 128 0 0 0

EUR 250m+ 0 0 0 0 250 0

Total 37.1 218 177 90.9 470 411 296 131

Source: Startup Lithuania Dealroom database.

Other indicators In 2024, the number of bankruptcy proceedings (1 144) grew by 12.4% compared with 2023 (1,018) but remains significantly lower than pre-pandemic levels. Despite geopolitical a nd trade tensions, at the beginning of 2025 there was no increase in the number of bankruptcies among companies in sectors more vulnerable to US import tariffs. Historically, almost all bankruptcies (more th an 99%) are experienced by SMEs, corresponding to the distribution of firm size. An analysis of the sensitivity of companies to macroeconomic shocks, carried out by the Bank of Lithuania in the Financial Stability Review 2023, indicates that companies in the ac commodation and catering, transport, manufacturing, and trade sectors would be the most vulnerable in a crisis sc enario. NFCs

An analysis of the sensitivity of companies to macroeconomic shocks, carried out by the Bank of Lithuania in the Financial Stability Review 2023, indicates that companies in the ac commodation and catering, transport, manufacturing, and trade sectors would be the most vulnerable in a crisis sc enario. NFCs operating in these sectors are vulnerable to shocks to turnover or expenditure and are likely to experience the highest job losses in a crisis scenario. Micro and small enterprises, whic h account for more than 90% of all vulnerable companies, would be the most affected by economic shocks. However, credit to vulnerable companies represents a small share of total credit to non-financial corporations; therefore, even in the event of a significant increase in the number of bankruptcies among such com panies, the impact on the financial sector would remain limited. The impact on corporate credit risk in thi s scenario would still be relatively low due to accumulated reserves, better preparedness of the financial sector, and the buffers put in place after the previous crisis. Overall, the level of corporate non-performing loans (NPLs) remained at a historically low l evel of 1.4% at the end of 2024. Historically, SMEs tend to have a higher share of NPLs in bank loan portfolios due to their higher risk profiles. At the end of 2020, the share of NPLs related to SME l oans amounted to 4.9%, while the total NPL ratio stood at only 2.2% (3.5% for non-financial enterprises). However, this difference has been decreasing steadily, and at the end of 2022 the share of SME loan NPLs was just 1.9%, with the total NPL ratio dropping to 0.9% (1.5% for non-financial enterprises). At the end of 2024, the highest sha res of 7

FINANCING SMES AND ENTREPRENEURS 2026: LITHUANIA © OECD 2026

NPLs were recorded in the agriculture, forestry, and fishing sector as well as in the accommo dation and

FINANCING SMES AND ENTREPRENEURS 2026: LITHUANIA © OECD 2026

NPLs were recorded in the agriculture, forestry, and fishing sector as well as in the accommo dation and food services sector (8.2% and 3.6%, respectively). As a result, the latter sectors are currently facing more restricted lending from credit institutions. Government policy response Open Credit Fund 3 (OCF3) Name of the programme: Open Credit Fund 3 (OCF3) Start date: 2023-06-12 End date: NA Objectives: To offer access to project finance on favourable terms at below-market prices to start up a new business or maintain and expand an existing one.

Source of funding: EUR 85.1 million of the funds repaid and/or to be repaid to the INVEGA fund.

Delivery agents and type: National development institution INVEGA through the financial intermediaries.

Main targeted beneficiaries (eligibility criteria): Loans are available to businesses of all sizes.

Financing terms: There is no limit for the maximum amount of the loan. The share of OCF3 per one loan must not be more than 75%, and in any event may not be more than EUR 750 thousand. The share of the financial intermediator’s own funds per one loan must be at least 25%. Maximum loan interest: 3 months EURIBOR + financial intermediary’s margin up to 3%. Financing in the form of loan and lease will be provided for a maximum period of 120 months. Financing in the form of line of credit will be provided for a maximum period of 36 months. Financing in the form of line of credit may be converted into a loan by extending the term of the loan agreement by up to 60 months. Soft loans are offered to finance investments or working capital. OCF3 funding may be provided in the form of a loan, line of credit and financial lease.

Programme

of line of credit may be converted into a loan by extending the term of the loan agreement by up to 60 months. Soft loans are offered to finance investments or working capital. OCF3 funding may be provided in the form of a loan, line of credit and financial lease.

Programme termshttps: //outlook.office.com/mail/inbox/id/AAMkADRiZTgyNjZlLWMzYTYtNDlhMC04OTBmLWJjMDI5M2Q2YjUzMABGAAAAAADi9ewARJRvSq EhhJVABY76BwB%2Bnu1pdWdCSohf%2F4wYXqN1AAAAGwqtAABUA5TMNJf1Rbba2%2F5KyrOyAANvlIs7AAA%3D - x_x_x_x__ftn4: Financial intermediary assumes all the credit risk related to the lending of funds of OCF3 to the borrowers, i.e. financial intermediary must return all the received funds of OCF3 to the INVEGA fund.

Relevant link to the programme website (if available): https://ilte.lt/en/services/114/loans-open-credit-fund-3-140 Similar local or regional programmes (if independent): no Alternative financing for SMEs Alternatyva Name of the programme: Alternative financing for SMEs Alternatyva Start date: 2020-04-17 End date: NA Objectives: To enable SMEs to obtain the necessary financing for their business through alternative finance providers.

Source of funding: EUR 91 million state budget resources.

Delivery agents and type: National development institution INVEGA through alternative finance providers.

Main targeted beneficiaries (eligibility criteria): The loans are available to small and medium-sized entities.

Financing terms: Loans may be granted to finance an SME’s investments and/or to supplement the working capital shortage provided that such financing is related to the launch of the SME’s new business activity or to the maintenance, strengthening or development of the existing activity.

Financing terms: Loans may be granted to finance an SME’s investments and/or to supplement the working capital shortage provided that such financing is related to the launch of the SME’s new business activity or to the maintenance, strengthening or development of the existing activity.

The largest portion of the loan, 100%, financed under the Alternatyva instrument is up to EUR 500 thousand if it is granted de minimis aid or the largest portion of the loan available under the Alternatyva instrument is up to EUR 200 thousand and no more than 90% of the loan amount is financed if the loan is granted on the market conditions. The maximum amount of the loan depends on the particular lending financial institution. A loan may be granted for a period not exceeding 24 months. Alternatyva funding may be provided in the form of loan, including factor (classic, reverse and secret) and financial lease.

Programme terms: Financial intermediary assumes all the credit risk related to the lending of funds of Alternatyva to the borrowers, i.e. financial intermediary must return all the received funds of Alternatyva to the INVEGA fund.

Uptake by beneficiaries: - until 2023-05-31, 3597 SMEs were supported, the total loans amount is EUR 182,15 million Relevant link to the programme website (if available): https://ilte.lt/verslui/visos-priemones/25/skolinimas-verslui-per-alternatyvius-finansuotojusalternat