2020.04.06 16:25

Small businesses in Lithuania can start claiming loan holidays

LRT.lt2020.04.06 16:25

Small and medium sized enterprises (SMEs) in Lithuania can now claim compensation for the interest charged on deferred loans and leases, according to the Lithuanian Finance Ministry press release.

The Lithuanian government has allocated 23 million euros to fully compensate the interest charged since March 16 when the country declared a nationwide quarantine.

Read more: Lithuania borrows €1.5bn to stimulate economy

“The government will compensate the interest on your deferred loans and you will be able to use your savings for other purposes currently vital for you,” Energy Minister and the Acting Economy Minister Žygimantas Vaičiūnas was quoted in the press release.

The compensation will be paid on a monthly, rather than quarterly basis, and will be granted for a maximum period of six months until December, 31, 2020.

The documents need to be submitted on the Investment and Business Guarantees (Invega) website.