ALTUM

Dome Square 4, Riga, LV-1050
Latvia
Latvia

+371 67774010
+371 67820143
altum@altum.lv
http://www.altum.lv

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 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
Supranational - 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 membersLoan default guarantees, Working capital loan guarantees, Housing guarantees, Leasing guarantees, Export 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, 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