Compensation of Loan Interest
Companies or entrepreneurs can recover part of the funds for the paid loan interest and allocate these funds for other business needs.
It is a translation. Due to possible different interpretations because of differences in the languages, the Lithuanian approved legal act should be applied.
For more information on the documents you need to submit, see the website in the original language.
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This is translated information. In case of any discrepancies, the original Lithuanian version shall prevail. |
Who is eligible?
The loan recipient, who is a small or medium-sized enterprise (SME), meaning a micro, small, or medium-sized company or entrepreneur, for whom the loan is issued by our financing partner (see the list).
What types of loans are applicable?
Investment loans or financial leasing (leasing), for which interest compensation applications must be submitted no later than 6 months from the date of signing the loan agreement.
An investment loan is considered one in which at least 71% of the total amount is designated for the borrower's investments in long-term tangible and/or intangible assets owned by the borrower and used in their business activities, eligible for financing under the program's conditions, while the remaining portion is intended for working capital expenses.
Amount & Duration
The interest compensation period cannot exceed 3 years, calculated from the first day of the month following the submission of the application until the end of the loan repayment term specified in the loan agreement.
For applications submitted from February 1, 2024:
Up to 40% of the actual interest paid will be compensated, but no more than 5% of the annual interest.
When loans are taken out for the purchase of vehicles, interest will be compensated only for the portion of the loan up to EUR 35,000 per vehicle, and only for loans taken for the purchase of vehicles in categories N, O, and special purpose vehicles, as specified in point 61 of the program description.
Compensation may be granted within the limits of de minimis aid (Regulation (EU) No. 2023/2831). The total amount of de minimis aid granted to a single company over any three-year period must not exceed EUR 300,000.
Where to apply?
The loan application and related documents should be submitted through the ILTE application submission system.
Terms
The application will be evaluated no later than 30 business days from the date the properly completed application and documents are submitted to ILTE.