ILTE
Fund of funds established by the Ministry of Economy and Innovation of the Republic of Lithuania and financed by the EU Funds. Promotes the growth and competitiveness of Lithuanian businesses by being an active partner in business financing.
ILTE, formerly known as INVEGA, is a state-established financial institution in Lithuania. Its primary mission is to provide financial services and implement various financial support measures aimed at fostering the growth of small and medium-sized enterprises (SMEs). Operating under the status of a National Promotional Institution granted by the Lithuanian government, ILTE focuses on several key areas: providing guarantees, administering very small loans and microloans, venture capital investments, and partial financing of loan interest. The institution also performs executive functions related to the use of financial resources.
ILTE serves a diverse range of clients, primarily targeting SMEs that require financial support to grow and sustain their operations. The market it operates in is primarily the Lithuanian financial sector, with a focus on economic development and business growth. ILTE's business model revolves around providing financial products and services that are backed by government support, ensuring lower risk and higher accessibility for SMEs. The institution generates revenue through interest on loans, fees for guarantees, and returns on venture capital investments.
Keywords: financial services, guarantees, microloans, venture capital, SMEs, Lithuania, economic development, government-backed, financial support, business growth.