(24 May 2016) – The European Investment Fund (EIF) and Estonian bank LHV have signed a guarantee agreement aimed at supporting micro-enterprises in Estonia under the EU Programme for Employment and Social Innovation (EaSI).
This new EaSI guarantee agreement with LHV will cover a loan portfolio of EUR 12 million for micro-borrowers including young entrepreneurs establishing start-up businesses, ethnic minorities, and micro entrepreneurs with limited access to credit.
The new product ‘LHV Micro Loan’ was launched this week. The loan application process is web-based, automatic and made as user-friendly for clients as possible.
The EaSI Guarantee scheme was launched in June 2015 and is funded by the European Commission and managed by the European Investment Fund.