New Opportunities for Business Financing: Rietumu Has Concluded an Agreement with ALTUM
01-Apr-2019, 11:04 / Products & Services Rietumu Bank has signed a cooperation agreement with the state-owned development finance institution ALTUM.
Now the bank’s clients will be able to avail of the opportunities provided by ALTUM programmes and get access to new financial resources in order to establish and develop their businesses.
Development finance institution ALTUM provides support to specific target groups via state financial support instruments. For example, to small and medium-size enterprises, startups, agricultural businesses, private individuals – within the framework of certain support programmes. Supplementing commercials banks services, ALTUM grants loans, credit guarantees; performs insurance of export transactions and investments in venture capital funds.
“Our cooperation with ALTUM opens excellent prospects for Rietumu Bank clients. Borrowed resources will become more accessible to them, providing additional opportunities for the implementation of good ideas, launching new projects, modernisation and development of production, increase of turnover, growth of export potential and profitability. In turn, the bank will continue to actively develop lending for business projects in Latvia, the Baltic countries and the EU,” said the Head of Rietumu Bank’s Lending Department Arthur Juksh.
Rietumu Bank’s clients will be able to use various programmes of ALTUM such as, in particular, parallel loan financing up to EUR 5 million to cover the costs involved in the manufacturing of new products, expansion or restructuring of production, etc.; guarantees for receiving a bank loan of up to 80% of the loan amount; export guarantees, etc.
More information about ALTUM programmes can be found here
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