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 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. | 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 2014–2020 measures |
| Types of guarantee products provided by your organisation/your members | Loan default guarantees, Working capital loan guarantees, Leasing 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 |
| 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 |
