Quick Facts
- Funder
- ALTUM (Latvia)
- Amount
- €2K – €250K
- Region
- EU
- Country
- Latvia
- Category
- Innovation
- Status
- Rolling
- Deadline
- Rolling (no fixed deadline)
ALTUM Start Loan (Latvia)
Latvian state loans €2K–€250K from 3% interest for new businesses — you can apply even before founding the company, with relaxed collateral up to €100K.
About this grant
ALTUM, Latvia's state development finance institution, provides start loans to new and young businesses that banks won't yet finance. Loans range from €2,000 to €250,000 at fixed rates from 3%, with terms up to 10 years (15 for premises). For loans up to €100,000, only the assets purchased with the loan are pledged as collateral. Uniquely, you can apply before registering the company — the SIA only needs to exist by contract signing. Minimum own participation is 10% of the investment with documented origin of funds. Decisions come within 25 working days of complete documents; faster below €25,000. ALTUM evaluates the business plan (market, competitive advantage, risks) and the founder's track record, including results achieved as an employee in other companies.
Eligibility criteria
- ✓New or young Latvian companies (may apply pre-registration)
- ✓10% own participation with documented origin
- ✓No tax debts over €150
- ✓Clean credit register (company and owners)