Financing in cooperation with European Investment Bank for small and medium‑sized businesses

In cooperation with the European Investment Bank (EIB) we support small and medium‑sized businesses by providing financing at a reduced interest rate.

EIB is the long‑term lending institution of the European Union owned by its Member States. The EIB is strengthening its support for Europe’s small and medium‑sized businesses by helping this important sector access financing and participating side-by-side with local financial institutions in the financing of investment programs which form part of the objectives of the European Union. Extensive information related to the EIB support can be found on the EIB website.
 
Such support is limited in time and quantity, and we may terminate and refuse to make any further offers of such financing at any time as soon as the term of the program expires or financing limits are reached.

Financing in cooperation with EIB is applicable for:

• Companies operating and projects implemented in the Baltic countries;
• Companies with less than 3,000 employees (including employees working in related companies), as is calculated following the European Commission Recommendation 2003/361/EC concerning the definition of micro, small and medium-size enterprises
• Self-employed persons registered in business registries and bearing VAT code

Financing with cooperation with EIB cannot be applied to: 

• Companies included in EIB exclusion list
• Companies involved in projects that are unacceptable in climate and environmental terms
• Companies engaged in below indicated activities/industries or projects related to:
  - high polluting industries
  - gambling
  - tobacco-related activities
  - production of weapons and ammunition, explosives, equipment or infrastructures specifically designed for military use
  - activities that result in limiting people’s rights and freedom, or violation of human rights, i.e.: prisons, detention centres, police and border and coast guard activities
  - activities resulting in harmful or exploitative forms of forced labour
  - activities considered ethically or morally controversial (such as: sex trade, animal testing, research on human cloning)
  - real estate activities with some exceptions
  - pure financial transactions which do not lead to additional capital expenditures or operational activity of the company (e.g. refinancing of existing loans, financing mergers & acquisitions)
  - and other activities.

Financing in cooperation with EIB can be used for:

• Purchase, renovation or extension of tangible assets (without VAT), including the development and planning during the construction phase.  
• Financing acquisition of land which is technically essential for the investments for up to 10 % of total Project costs (except for the purchase of farmland, which is always excluded) 

Additional conditions applicable for projects satisfying EIB green financing criteria:

• Lower interest rate up to 70 bps.
• For Investment projects supporting transition to low carbon economy, i.e.:
  - wind or solar power parks
  - electric energy storage
  - energy efficiency improvements in buildings (building envelope), including photovoltaic and wind turbine systems and solar thermal hot water systems
  - zero‑emission vehicles
  - modernization of agricultural storage, harvester replacement, tractor replacement, non‑tillage equipment (i.e. planter, seed drill, roller/crimper, mulcher, other)
• Leasing:
  - zero‑emission or low‑emission vehicles
  - harvester or tractor replacement

All general conditions and requirements for companies and projects indicated above are also applicable.

In case a loan or leasing in cooperation with EIB is granted, the company shall be subject to additional conditions such as: 

• the company shall comply in all respects with EU and national laws and regulations, including concerning the protection of the environment, health, social well‑being, and safety
• the company shall maintain, repair, overhaul and renew, as well as properly insure all property forming part of the project as required to keep it in good working order
• the company shall carry out works and purchase services or goods for the project in a way that respects the criteria of economy and efficiency
• upon reasonable notice, the company shall permit the EIB representatives to visit and inspect all sites, installations, and works that comprise the project which is the subject of the financing
• we may provide any information about the company and the project to the EIB
• and other conditions

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Apply for leasing