OREANDA-NEWS. March 02, 2010. Ukio bankas has lent LTL 36 million to business. Ukio bankas has concluded credit agreements for the said amount with over 200 small and medium sized enterprises of Lithuania. A part of the enterprises, having been granted the credits, have already begun the credit repayment process, reported the press-centre of Ukio bankas.

Ukio bankas has granted the credits to the enterprises of the country on the grounds of the measures taken by the Ministry of Economy of the Republic of Lithuania “Small credits, stage 1” and “Small credits, stage 2” after winning tenders held by UAB “Investiciju ir verslo garantijos” (INVEGA). Small credits granting to small business is one of the measures determined in Economic Promotion Plan prepared by the Ministry of Economy.

Ukio bankas has granted the majority of credits to the enterprises of Kaunas and Vilnius cities and regions though a significant number of projects of Siauliai, Panevezys, Alytus and Silute enterprises were financed. Small credits were granted for investments or working capital financing. The main purpose of credits among Lithuanian companies were aimed at wholesales and retail sales, processing industry, construction and transportation as well as storage service development financing.

On the first credit grating stage, Ukio bankas has lent LTL 10 million. LTL 8 million from the said amount were budgeted by the Government and LTL 2 million – by Ukio bankas. Under the terms of the second stage the bank has lent LTL 26 million.

“It was more difficult to distribute the credits than we expected – the businessmen of the country are rather careful with credits and currently try to go without them. Nevertheless the applications received and approved for crediting are efficiently prepared, reasonable business plans are made allowing the companies to retain business successfully and to begin the credit repayment” – said Mindaugas Pasvenskas, Head of Ukio bankas Credit Division.

Daumantas Lapinskas, Advisor of Ministry of Economy, encourages businessmen to take interest and use all possible measures of Economic promotion plan business financing available in the market.

“As economy stabilizes, business intends new development, so the demand for financing grows” – Daumantas Lapinskas states.

According to Mindaugas Pasvenskas, Head of Ukio bankas Credit Division, the bank has assumed an obligation to continue lending the repaid credits to small and medium sized businesses. The bank will pay considerable attention to the companies working within the regions of the country.