OREANDA-NEWS. On May 15, 2009 Parex Bankas won the tender organised by UAB Investiciju ir Verslo Garantijos (INVEGA) regarding the financing of very small, small and medium-sized enterprises, and is to lend LTL 100 million together with other three selected banks, reported the press-centre of Parex Bankas.

LTL 19.5 million will be allocated from the funds of Lithuanian State owned UAB Investiciju ir Verslo Garantijos (INVEGA) for the small loans extended by Parex Bankas. Small loans for very small, small and medium-sized enterprises will be extended for investments of up to LTL 350,000 and (or) to replenish current assets. Parex Bankas will extend loans for investment projects for a period of up to five years, and to replenish current assets – for a period of up to two years.

As provided in the terms and conditions of the tender announced by UAB Investiciju ir Verslo Garantijos, Parex Bankas will apply the three-month VILIBOR+0.48 interest rate to SMEs operating in Vilnius, Kaunas and Klaipeda municipalities, and the three-month VILIBOR-0.52 interest rate for enterprises operating in other municipalities. The maximum bank margin, as also provided in the terms and conditions, will not exceed 1.48 per cent.