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SME Finance, a Lithuanian-owned non-banking financing company that focuses on invoice lending, has secured a 20-million-euro loan from an unnamed South Korean fund, the business daily Verslo Zinios reported on Tuesday.
South Korean fund loans EUR 20 mln to Lithuanian-owned non-banking financing company
© Shutterstock

SME Finance Mindaugas Mikalajunas says the loan is important news for Lithuanian small and medium-sized businesses.

"Until now, we could provide a limit of up to 2 million euros per client, and the new investment will enable us to increase it to 5 million euros. Lending will become cheaper, too," he told the paper.

SME Finance's financial resources now comprise a 10-million-euro credit facility from a UK fund, 20 million euros raised via private bond placements, equity capital worth 5 million euros, and the loan from the South Korean fund.

BNS
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