Institution details
JSC Development Finance Institution Altum (ALTUM)
Key facts
- Established in 2013
- Ownership: Public
- Doma laukums 4, Riga, LV-1050
- +371 6721 6081
- https://www.lga.lv
Latest update: 03/12/2021
rating type | rating agency | type | rating |
---|---|---|---|
Institution rating | S&P | Foreign currency | A- |
Country rating | S&P | Local currency | A- |
Products
- Supplier credit
Supplier credit
- Export credit guarantees to exporters or financial institutions to insure against insolvency or non-payment of a foreign buyer of goods or services
- Tenor: Up to 2 years
- Cover:
- Maximum cover due to non-payment by a single buyer is EUR 2 million
- Up to 80% of the loan amount to a lender
- Commercial risks up to 90% of total export
- Political risks up to 95% - Amounts and tenor:
- For MSMEs or a group of enterprises: EUR 3 million up to 10 years or EUR 1.5 million up to 5 years
- For large enterprises, except for road freight transport industry: EUR 750,000 up to 10 years - Eligibility: Investment loan, working capital loan (including credit limit), financial leasing (including financial leasing limit), factoring, bank guarantee (procurement procedure guarantee, advance payment guarantee, performance, or guarantee period guarantees), bank guarantee limit, and letter of credit
Modality | Tenor | Cover type | coverage |
---|---|---|---|
Supplier credit | Short/medium/long-term | Comprehensive | 80%-90% |
Supplier credit | Short/medium/long-term | Political | 95% |
Performance highlights
What's new?
- Altum committed EUR 15 million of EU financing for micro-entrepreneurs
- Jointly owned by the Ministry of Finance (40%), Ministry of Economics (30%), and Ministry of Agriculture (30%)
- Collateral and a personal guarantee by business owners holding at least 10% of shares is required to receive a loan
- Maturity of the loan cannot exceed the length of useful life of the assets
- Closed to the following countries: Iran, Iraq, Democratic Republic of Congo, North Korea, Syria, and Sudan
- Refrains from transactions wherein one of the business parties has been included in FATF High-risk and Non-Cooperative Jurisdictions list
- Corporate and social responsibility agenda