Šiaulių bankas has taken the first place at the micro crediting programme pick


Šiaulių bankas has taken the first place among the banks that are going to grant micro credits from the State funds. The Bank will be provided with LTL 15 million to grant the credits, i.e. with more than a half of the funds allocated by the Government of the Republic of Lithuania to this programme (total LTL 28.8 million).
A request to participate in the pick as well as applications with the offered micro crediting conditions were submitted by all nine commercial banks operating in Lithuania. While evaluating the submitted applications, the main criterion was the most favourable micro crediting conditions.
Micro credits up to LTL 86 000 will be granted to small and medium-sized enterprises. The preference will be given to micro enterprises (the enterprises with less than 10 employees).
An agreement of fund granting to Šiaulių bankas (between the Ministry of Economy of the Republic of Lithuania, “Investment and Business Guarantees” UAB INVEGA and Šiaulių bankas) is planned to be signed within 2-3 weeks. Šiaulių bankas will start micro credit granting as soon as the agreement is signed.
Applying experience of the European Bank for Reconstruction and Development, Šiaulių bankas the first from all the operating banks in Lithuania has prepared its micro crediting programme and has been implementing it for five years already.