The number of loans granted by Altum increased by 45% in Zemgale ::


Development Financial Institution "Altum" to start business in Latvia
In the first nine months of the year, for loan start-ups
allocated more than 8.2 million euros, the highest volume
in the last five years. Compared with nine months of 2017, both
after the total number of loans granted and the amount of funding
an increase of 40 percent, the representative of "Altum" Sandra Eglīte informed the portal.

Activity of young entrepreneurs through the state support program
loans has grown in almost all regions of Latvia. The largest loan
the increase in the number in the nine months of this year was registered in Zemgale (plus 45
percent) while a large number of supported business projects
the increase is in Vidzeme (plus 89 percent), Zemgale (plus 69 percent) and
In Kurzeme (another 60%), suggesting a large-scale business idea
Implementation. The activity of entrepreneurs through State support has increased
also in Latgale – the number of loans grew eight percent,
while a slight decrease in the total amount of allocated funding,
which suggests that new entrepreneurs in the region start with a small business
projects. The opposite is in the region of Riga and Pieriga, where
the total amount of funding increased by 26%, however
the number of projects decreased by seven percent.

In total, in the first nine months of this year almost 400 loans were issued
entrepreneurs in business areas such as catering
service and hospitality and various other services, production, agriculture, forestry and fishing, trade, construction and transportation services.

"Increased business interest in starting a business and its significant growth
The nine months of this year are due to the fact that we are now in a situation where
Financial availability for new ideas is particularly wide. As
we discovered funding this year in collaboration with SKDS
mainly required for small and medium-sized enterprises in the amount up to
150 thousand euros, in addition to about one in three entrepreneurs
the required amount of funding is up to 25 thousand euros. At the same time
At present, smaller and younger companies are looking for the most sophisticated money
most do not go to banks or to Altum, although they recognize that they need financing.

Consequently, I see growth potential for business development. Altum
would be able to double the amount of loans granted if they were all
companies that need financing, but have rejected them
banks because they are very young or small, with equity and
the warranty or guarantee required. A large proportion of banks
We can finance unsupported companies because Altum has more opportunities to support more risky projects. Essential that often
companies need new products and services
as well as the promotion of exports, is therefore particularly important
to promote financial accessibility, "says Reinis Bērziņš, Chairman of the Board of" Altum ".

"Altum" The manager of the Zemgale region, Mārīte Lazdins, is proud that this year at Zemgale has increased the number of loans
the total number, as well as the total amounts allocated to it, which means that
Entrepreneurs in the region are becoming increasingly aware and using financial support
opportunities, improving and developing your prospects business. Country
The co-financing available in the support programs also undoubtedly contributes to the
private investment, which with the support of Altum is
invested not only in the development of the region, but across the economy, "said Marīte Lazdina.


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