Compensation of Interest on Loans and Credit Lines for the Financing of Working Capital or Acquisition of Biological Assets
Part of the interest on short-term and biological assets is reimbursed.
It is a translation. Due to possible different interpretations because of differences in the languages, the Lithuanian approved legal act should be applied.
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Who can apply?
You can apply for interest compensation by:
- a natural or legal person engaged in an economic and/or commercial activity in a rural area and engaged in the primary production of agricultural products;
- agricultural cooperative societies (cooperatives) engaged in the processing and/or marketing of agricultural products.
Which forms of financing are covered?
Interest reimbursement:
- paid under only one loan or factoring contract;
- paid under an amendment to a loan or factoring contract concluded from 1 July 2021.
Amount and duration
80 % of the interest paid to financial institutions for a maximum period of 2 years from the date of signature of the loan and/or line of credit agreement.
The amount of the reimbursement is paid quarterly.
The annual interest rate on which the aid is calculated may not exceed 4 %.
The total amount of deminimis aid in any period of 3 financial years may not exceed:
- EUR 25 000 per primary producer,
- EUR 300 000 per agricultural cooperative society (cooperative) .
Where to apply?
Please contact one of the ILTE funding partners with whom you have signed a funding agreement.
You don't need to contact ILTE - our funding partner does that.