More support will become available for micro-enterprises in Estonia and Lithuania that are facing the economic fallout of the COVID-19 crisis. A new transaction between the European Investment Fund (EIF) and financial intermediary Finora Capital is expected to support at least 100 micro borrowers in these two countries. The long-term working capital loans offered by Finora will be essential in providing liquidity to companies during the post-COVID-19 economic recovery. The operation is backed by the EaSI Funded Instrument under the EU programme for Employment and Social Innovation.
The EIF loan will allow Finora Capital, a fully digital, alternative finance providing company, to offer loans and leasing to bigger number of micro-enterprises at more favourable terms than so far.