EIB invests $80m in Lithuania’s SME Finance

Lithuanian debt financing firm SME Finance has received €80 million in funding from the European Investment Bank.

SME Finance has received the backing to help it service SMEs in Lithuania, Latvia, and Estonia. The firm provides finance for the transport, retail, wholesale, production, and services sectors. Clients can apply using its “full automated” self-service factoring platform. The funding is the largest investment EIB has awarded to a fintech lender.

The first wave of funding from the EIB will reach businesses by the first half of 2021. The maximum factoring limit granted to individual enterprises will be capped at €5 million.