Altum credit for development
The widest range of financial support products for businesses that want to grow. Rates starting from 2,5% p.a., amounts up to 5 million. EUR.
Target audience
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A company that wants to start its own business
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A company that wants to develop its business
Basic conditions
Programmes : Altum has more than 30 funding programmes and sub-programmes
Amounts : from 2 000 to 5 000 000 EUR
Rates : starting from 2,5% per annum
Collateral : varies, but starting with a minimum private guarantee of 10%
Answer : it is possible to get an indicative answer on whether your company/idea is eligible for one of the programmes. Otherwise, after submission to Altum, it may take up to 2 months to receive a final answer.
Speed of receipt : depending on the programme, but from submission of documents to receipt of money can take from 1 to 4 months.
Oferta Finance offer
We offer Latvian entrepreneurs, both experienced and growth-oriented, as well as beginners who have just established a company or are still planning to do so, the support of a team of competent and experienced consultants in attracting business loans from JSC "Development Finance Institution Altum"
What are the terms of the programme?
Programme name: Start programme
Who can apply: Companies not older than 7 years. You can apply even before the establishment of the company
Maximum amount: EUR 250 000
Key conditions: Reduced collateral requirements for loans up to EUR 100 000. Interest rate - from 3% per annum
Program name: SME growth loan
Who can apply: Small, medium-sized and large enterprises
Maximum amount: EUR 5 000 000 for investments and EUR 1 000 000 for working capital
Main conditions: Interest rate - from 2,5% per annum for the first 6-18 months and from 3,5% thereafter
Other programmes: We will find the most suitable Altum loan programme according to the specifics of the company and the needs of the client
How much does our service cost
Free of charge: meeting the client and the project, assessing the business idea, the company's financial indicators and other relevant factors, advising on the loan options, the most suitable programme and its conditions;
Preparation of documents, including filling in the loan application with a description of the company and the project and other necessary forms as a consultant on mans.altum.lv, analysis and forecasting of balance sheet ratios, cash flow forecast for 2 years:
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Start-up programme - fixed fee. Amount to be specified,
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SME Growth Loan and other programmes - fixed fee. Amount to be specified.
Commission fee - percentage of the approved loan amount after decision. The commission includes the adviser's participation in the communication with Altum, assistance to the client in answering questions and preparation of information. We set the percentage for each client individually.
Who can't apply for an Altum loan?
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Companies in the so-called excluded sectors – those involved in the production or sale of alcohol, tobacco, weapons and ammunition, the financial and insurance sectors, companies involved in real estate operations;
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Companies with tax debts over EUR 150 and have not agreed on a schedule with the SRS;
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Companies or group of companies that meet the characteristics of GNU;
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Companies which themselves or their owners, PLGs or officials have or have recently completed insolvency proceedings, have current payment delays in the Bank of Latvia's credit register or debtors' lists.
Reviews
"We received an Altum loan of EUR 500 000. Thank you Oferta Finance for your work"
Logging company. May 2024.
Oferta Finance helped to refinance an existing credit obligations in one of the Latvian commercial banks, and to rise additional financing from Altum for a total of EUR 500 000. The transaction took a total of 3 months from the submission of all documents to the receipt of the first money by the client.
