Government support for businesses and workers – when to claim

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The Lithuanian government pledged five billion euros to help businesses and workers withstand the economic shock caused by the pandemic. Here’s when to file claims,, according to a government’s press release.

April 3 –  small and medium-sized enterprises can already request the so-called  loan holidays  , which will fully compensate the interest charged since March 16 when the country declared a nationwide quarantine. The compensation is paid on a monthly, rather than quarterly basis, and is granted for a maximum period of six months until December, 31, 2020.

April 5 –  self-employed people, as well as businesses who need to put their workers on downtime (prastovos), can turn for subsidies at the  Employment Services   (Užimtumo Tarnyba). Self-employed people can receive a fixed sum of 257 euros per month, while businesses can have 70 or 90 percent of the employees’ monthly wage – but no less than the monthly minimum wage – compensated.

As of Monday, 5,548 self-employed people, and 38 businesses have already requested support.

April 10 –  small and medium-sized enterprises will be able to request government loans to pay their suppliers.

April 14 –  small and medium-sized enterprises will be able to ask for loans to maintain liquidity – pay rent, wages, or other crucial expenses. The financing will take one day to approve.

April 15 –   a new fund   will begin operating aimed to shore up medium and large-sized enterprises. The fund will provide liquidity by investing in companies’ shares or debt securities and serve as a lender of last resort.

April 16  – the government will start providing portfolio guarantees for loans under better conditions than usual.

More details on how to file a claim can be found on the government’s Investment and Business Guarantees’ (Invega)  website  .

LRT.LT

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