The number of guarantees given to INVEGA is a kind of record
“In 2011 the number of guarantees given to INVEGA is a kind of record. INVEGA given support in form of guarantees business didn’t use so intensive neither in 2009, neither in 2010 m, when to Lithuanian small and medium-sized businesses has become available a number of INVEGA financial engineering instruments” – says INVEGA deputy director Audrius Zabotka. – “This reflects the growing demand for business credit, and proves once again that financial engineering, while taking its first steps in Lithuania and throughout the European Union, are in high demand”.
In 2011 the average loan amount was 377 678 Lt, and the average amount of guarantees– 268 387 Lt. In average with INVEGA guarantee SMBs projects borrowed for the term of 3,1 year, average duration of the guarantees was 2.5 years.
52,5 % of guarantees were given to companies working more than 5 years. A. Zabotka says that thanks to INVEGA help 23,59% of guarantees were given to companies working up to 12 months.
INVEGA guarantees were given to trade enterprises and enterprises engaged in production loans, 35.9 and 35.5 percents. And for companies providing a range of services provided 22.9 percent of loans guarantees.
For working capital for business development, loans taken to the 52.8 per cent. guarantees for investment loans and guarantees have been given slightly less - 47.2 percent.
Since beginning (2001) till 2011.12.31 INVEGA for credit institutions gave 3 443 guarantees, the sum of loans was 1,38 milliard, the amount of guarantees - 927,4 mln. Lt
Investment and Business Guarantees (INVEGA) provides up to 80 percent guarantees to credit institutions for small and medium-sized business loans taken. Guaranteed loans may be eligible for a company with fewer than 250 employees, and individuals engaged in business (self, having a business license, the maximum amount of security - 5 million Lt. SMBs subjects who have a loan with a guarantee of INVEGA is compensated up to 50 percent of interest paid.
