Garfondas – Agricultural Credit Guarantee Fund

Blindziu Street 17
08111 Vilnius
Lithuania

+3705 260 84 06
+370 5 260 84 05
info@garfondas.lt
http://garfondas.lt

Agricultural Credit Guarantee Fund (Garfondas) is a financial institution. The Ministry of Agriculture of the Republic of Lithuania holds the shares owned by the State under the right of trust and it is in charge of supervision of the Company. Garfondas helps economic entities which do not have sufficient collateral and financial resources, to develop and establish businesses, modernize farms and companies, and produce competitive products by providing favourable borrowing conditions. Agricultural Credit Guarantee Fund  issues guarantees to credit institutions and financial leasing companies, administrates state aid and other financial instruments.

Year of creation
individual entities or association
1997
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.
Limited liability company
Structure / Network
i.e. central scheme with regional offices, central scheme only, association network
Central schemes only
Geographic coverage
i.e. local, regional, national
National
Sectorial focus
i.e. agriculture, industry, crafts, retail, liberal professions, cooperatives, etc.
Agriculture, and economic entities located in rural areas and engaged in activities alternative to agriculture sector, processing agricultural produce companies.
Size of businesses supported
i.e. large companies, SMEs, micro-enterprises, independent/self-employed
SMEs, Micro-enterprises, farmers
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
National level
Are you/your members financial intermediary for EU-programmes?
CIP/COSME or Structural funds or Progress or RSI/RSFF Horizon 2020
Structural funds - Financial instruments under two Rural Development Programme 2007–2013 measures
Types of guarantee products provided by your organisation/your membersLoan default guarantees, Working capital loan guarantees, Leasing 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
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, GBER and Notification
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