Guaranteed Leasing
The guarantees provided by ILTE help solve the issue of insufficient or unattractive securities for financial institutions and facilitate access to financing sources.
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This is translated information. In case of any discrepancies, the original Lithuanian version shall prevail. |
Who is eligible?
Small and medium-sized enterprises.
Guarantee amount
The maximum amount of the guarantee, including the balances of the available guarantees, shall be as follows:
- For small and medium enterprises operating for up to 3 years – EUR 1,125,000;
- For small and medium enterprises operating over 3 years – EUR 2,500,000.
Minimum equity - 10 %.
Guarantee intensity - up to 80% (minimum guarantee – EUR 5,000).
Guarantee fee
Where to apply?
In order to use the measure, a company must first approach a bank or leasing company and reach an agreement on financing. A bank or a leasing company then applies to ILTE.
ILTE can provide leasing guarantees to these banks or leasing companies.
How does it work?
- In order to use the measure, a company or starting entrepreneur must first approach a bank or leasing company and reach an agreement on financing.
- The financial institution shall assess the ongoing project, the possibilities of repaying the lease and calculate the amount of the missing collaterals.
- Afterwards, the financial institution shall submit a request for a guarantee and other financing-related documents to ILTE.
Requests to obtain guarantees or to amend the terms and conditions of the guarantee and contracts shall be sent by e-mail to info@ilte.lt.
The financial intermediary has to pass on the advantage received through the State guarantees to the beneficiaries, by providing financial lease with lower interest rate or lower collateral requirements (except for collateral for manufacturing equipment and/or devices acquired with the financial lease money) on terms more favourable for the financial lessee. The rate of interest on financial lease with a guarantee must be lower or the collateral requirements for repayment of financial lease must be on more favourable terms than in case of financial lease without a financial lease guarantee.
The difference in interest rates or more favourable collateral requirements for repayment of financial lease for the lessee must be specified in the documents submitted by the guarantee recipient to ILTE along with the application for financial lease guarantee and in the financial lease agreement.
List of documents to be submitted is presented in the original Lithuanian version.