Small and medium-sized enterprises (SMEs) and micro-enterprises will have access to loans for investments and working capital

At the meeting on January 9, 2024, the Cabinet of Ministers approved amendments to the Regulations on loans for the promotion of development of small (micro), small, and medium-sized economic activity performers and agricultural and forestry service cooperative societies. These amendments will enable the launch of support for business productivity enhancement in the form of investments and working capital for the 2021-2027 European Union funds planning period.

Support will be available to small and medium-sized enterprises (SMEs), as well as small medium-sized (up to 499 employees) and medium (up to 3,000 employees) capitalization companies. Eligible applicants with at least 12 months of experience and no less than five employees will include:

• Investments up to EUR 2,850,000 and no more than 90% of the total costs, with a loan term of up to 15 years;
• Working capital from EUR 100,000 to EUR 5,000,000 with a loan term of up to 15 years.

Altum will be able to provide a loan of up to EUR 5 million to a single economic activity performer.

The total funding of the support program is EUR 15,662,858, and it is planned to support at least 150 economic activity performers by December 31, 2029, attracting provisionally EUR 5 million in private investments and increasing the turnover growth in these companies by at least 20%.

More information on the amendments to the Cabinet of Ministers' September 15, 2009, Regulation No. 1065 "Regulations on loans for the promotion of development of small (micro), small, and medium-sized economic activity performers and agricultural and forestry service cooperative societies" can be found on the unified Portal of Legal Acts.

Full article by Ministry of Economics Public Relations Department here.