Our Financial Services and Compliance team has provided legal support for Finansų bitė verslui to prepare all application and supporting documents to qualify to sign the cooperation agreement with INVEGA. Under the cooperation agreement, Finansų bitė verslui provides liquidity loans for the companies strongly affected by the COVID-19. The loans are provided under the state support program of EUR 50 million was created to support the small and medium businesses during the lockdown period.
Finansų bitė verslui is the first financial institution to be entitled to provide liquidity loans under the said program.
Our team has beaten records of work efficiency: the application and all package of documentation were prepared within 1 business day. It helped Finansų bitė verslui to apply to INVEGA. As the demand for the state support loans is extremely high during the lockdown, our team worked 24/7 to prepare the loan agreement and other related documents in 2 days. The task was completed successfully, and the client is able to operate on a full basis now.