OREANDA-NEWS. October 01, 2009. Ukio bankas extends credits under INVEGA credit facility “Open Credit Fund”. Micro, small and medium-sized enterprises are offered to take loans. Credits from the “Open Credit Fund” may be granted to finance investment or supplement working capital if this would result in expansion of the company's business activities and increasing of its competitiveness, reported the press-centre of Ukio Bankas.

Ukio bankas extends credits to small and medium-sized businesses in litas but in the nearest future the bank will extend loans from the Open Credits Funds in litas and euros. This will create still better conditions for receiving a loan.

Businessmen receiving credits that are financed under the “Open Credits Fund” facility will have the chance to benefit from INVEGA Fund guarantee covering up to 80 per cent of the credit.

The amount of LTL 100 million will be allocated for the “Open Credit Fund” facility from EU Structural Funds and the amount granted from the Fund for one credit may not exceed LTL 1.5 million or EUR 434,400. One enterprise is eligible to receive maximum two credits during the period of 12 month. Credits will be granted for a maximum period of 72 months.

Credits received from the “Open Credit Fund” should be repaid by 31 December 2015.