Altum credit for development
The widest range of financial support products for companies that want to grow. Rates starting from 2.5% per year, amounts up to 5 million. EUR.
Target audience
A company that wants to start its own business
A company that wants to develop its business
Basic conditions
Programs : Altum has more than 30 funding programs and sub-programs
Amounts : from 2,000 to 5,000,000 EUR
Rates : starting from 2.5% per year
Collateral : various, but starting with a minimum private guarantee of 10%
Answer : it is possible to receive an indicative answer as to whether your company/idea is suitable for one of the programs. Otherwise, after submission to Altum, it may take up to 2 months to receive a final response
Speed of receipt : depending on the program, but it can take from 1 to 4 months from submission of documents to receipt of money.
Oferta Finance offer
We offer Latvian entrepreneurs, both experienced and development- and growth-oriented, as well as beginners who have just founded 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 "Attīstības finanţi institucia Altum"
What are the terms of the program?
Program name: Start program
Who can apply: Companies not older than 7 years. You can apply even before the establishment of the company
Maximum amount: 250,000 EUR
The most important conditions: Reduced collateral requirements for loans up to EUR 100,000. Interest rate - from 3% per year
Program name: SME growth loan
Who can apply: Small, medium and large enterprises
Maximum amount: EUR 5,000,000 for investments and EUR 1,000,000 for working capital
The most important conditions: Interest rate - from 2.5% per year for the first 6-18 months and from 3.5% thereafter
Other programs: We will find the most suitable Altum loan program according to the specifics of the company and the client's needs
How much does our service cost?
Getting to know the client and the project, evaluating the business idea, the company's financial indicators and other important conditions, consulting on the possibilities of receiving a loan, the most suitable program and its conditions - free of charge ;
Preparation of documents, incl. filling out a loan application with a company and project description and other necessary forms as a consultant on the mans.altum.lv website, analysis and forecasting of balance indicators, cash flow forecast for 2 years:
Starter program - fixed payment. Specify the amount ,
SME growth loan and other programs - fixed payment. Specify the amount .
Commission fee – a percentage of the approved loan amount after the decision is made. The commission includes the consultant's participation in communication with Altum, assistance to the client in providing answers and preparing information. We determine the percentage for each client individually.
Who cannot apply for an Altum loan?
Companies of the so-called excluded industries – those related to the production or trade of alcohol, tobacco, weapons and ammunition, the financial and insurance sector, companies that carry out operations with real estate;
Companies that have a tax debt over EUR 150 and have not agreed on a schedule with the SRS;
Companies or group of companies conforming to the GNU features;
Companies that 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 a 500,000 EUR loan from Altum. Thank you to Oferta Finance for your work"
Logging company. May 2024.
Oferta Finance helped to refinance the existing credit obligations in one of the Latvian commercial banks, and to attract additional financing from Altum for the total amount 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.
