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Ordinance No. 4-249 of the Minister of Economy and Innovation validating incentive financial instrument scheme for loans for small and medium-sized business entities affected by COVID-19.

Country/Territory
Lithuania
Document type
Regulation
Date
2020
Source
FAO, FAOLEX
Subject
General
Keyword
Credit Subsidy/incentive Contract/agreement Business/industry/corporations
Geographical area
Europe, Europe and Central Asia, European Union Countries, Northern Europe
Abstract

The Minister establishes that loans for small and medium-sized business entities affected by COVID-19 shall be granted to enterprises operating on the national territory on condition that they create jobs locally, pay taxes and tributeы to the national budget, and pay pension fund contributions. Business entities that have lost at least 30 percent of their amount of business since the outbreak of a new coronavirus infection (COVID-19) shall have the right to access to public loans. The loans are intended to finance the borrower's minimum working capital. Loans can be granted for a maximum period of 24 months. This period may be extended for a period not exceeding 36 months, term starting from the date of conclusion of the initial loan agreement.

Full text
Lithuanian
Website
e-seimas.lrs.lt