Development financial institution ALTUM is specialized Latvian development finance institution providing state support through a full range of financial instruments: loans, credit guarantees and mezzanine loans, and co-invests in venture capital funds. Support for the companies is available during all stages of growth, starting from the idea and commencing operation until stable growth. Started at 15 April 2015, ALTUM is the successor of Latvian Guarantee Agency and it has taken over all rights and liabilities of LGA.
| Year of creation individual entities or association | 2015 (successor of “Latvian Guarantee Agency” Ltd, created in1998) |
| Type of organization National Promotional Bank (NPB), National Promotional Institution (NPI), Private, Mutual, Mixed | NPI |
| Type of scheme guarantee or counter-guarantee | Guarantee |
| Product typology guarantee or counter-guarantee or co-guarantee | Guarantee |
| Ownership i.e. fully mutual, funded by SMEs, banking associations, fully public, fully private, private-public, mixed models | Fully public |
| Shareholder structure Private / Public (in %) | 100% public |
| Legal form of single guarantee entity or association: i.e. fund, development bank, development agency, cooperative or mutual societies, bank, foundation, association, limited company, etc. | State Joint Stock Company, Development Finance institution |
| Legal form of members of an association: i.e. fund, development bank, development agency, cooperative or mutual societies, bank, foundation, association, limited company, etc. | Development Finance institution |
| Structure / Network i.e. central scheme with regional offices, central scheme only, association network | Central scheme with regional offices |
| Geographic coverage i.e. local, regional, national | National |
| Sectorial focus i.e. agriculture, industry, crafts, retail, liberal professions, cooperatives, etc. | All sectors except the ones listed in The De minimis regulation (EU) |
| Size of businesses supported i.e. large companies, SMEs, micro-enterprises, independent/self-employed | Large companies, SMEs, Micro-enterprises, All, mainly SMEs |
| Supervision statute i.e. mono-product banking licenses, financial intermediary statute, non-supervised. For associations, please state statute of members | Financial intermediary statute |
| Profit / Non-profit oriented dividends to public shareholders are not considered as profit orientation | Profit oriented |
| Do you benefit from a counter-guarantee at local, regional or national level? Local level or Regional level or National level | EIF |
| Are you/your members financial intermediary for EU-programmes? CIP/COSME or Structural funds or Progress or RSI/RSFF Horizon 2020 | CIP/COSME, Structural funds (ERDF), RSI/RSFF Horizon 2020; InnovFin SME Facility |
| Types of guarantee products provided by your organisation/your members | Loan default guarantees, Working capital loan guarantees, Housing guarantees, Leasing guarantees, Export guarantees, Portfolio guarantees |
| Other SME support instruments offered by your organisation/your members Subsidized loans or Mezzanine financing or Venture capital or Coaching or Mediation services | Subsidized loans, Mezzanine financing, Venture capital |
| Is the activity subject to state aid regulation? | Yes |
| Do you (your members) use..? De minimis or GBER or Regional guidelines or Notification | De minimis |
| Do you (your members) dispose of an internal rating/scoring system? | Yes |
| Do your guarantees provide deponderation (capital relief) for member banks subject to capital requirements (Basel agreement)? | Yes |
| Do you (your members) benefit of a public counter-guarantee that allows deponderation (capital relief)? | No |
