Attraction of various funding forms for enterprises

PROGRESS.LV offers its services in attraction of various forms of funding for the development of business projects at any phase of the enterprise’s lifecycle. The range of services offered by Progress.LV provides full cycle support to companies seeking funding.

Services offered by PROGRESS.LV to own clients cover all phases related to acquisition of funding, starting from assessment of the business project, preparation of any necessary documentation as well as negotiation support with selected financial institutions (banks, private investment funds etc.). Progress.LV shall also assist in preparing any documentation required from the funding institution in order to issue the financial resources.

A hybrid of debt and equity financing is often used for the purpose of implementing company expansion phase (development, growth). Mezzanine financing gives the lender the rights to convert to an ownership or equity interest in the company if the loan is not paid back in time and in full. It is generally subordinated to debt provided by senior lenders such as banks and venture capital companies. This type of financing is characterised by higher interest rate and lower or no – requirement of collateral.
Progress.LV possesses a significant degree of experience in the attracting bank loans for the purpose of companies (mortgage loans, credit lines and state aid lending programmes etc.). Progress.LV shall prepare all necessary documentation to request funding (business plan, application, cash flow etc.), we also support the customer during negotiations with bank and during the negotiations on the conditions of financing as well as we prepare any project related documentation required by the financial institution in order to issue the funds.
Originally Progress.LV started out as a specialised company with its sole service to assist companies in attracting European Union structural financing. While operating in the said field, over time our company has built a substantial customer base that use the services provided by Progress.LV. Progress.LV has a significant experience in the acquisition of structural funds’ financing and project development and elaboration for the attraction of EU financing on behalf of the companies our clients. We have attracted EU financing in various EU grant programs on behalf of enterprises established in Latvia and in Italy. We offer to prepare all necessary documentation, assist with project implementation, develop intermittent/and final reports as well as provide consulting during financing acquisition phase.
Progress.LV is an efficient partner in any matter related to the attraction of risk capital financing for companies with the use of both private equity investment funds and merchant banks. This form of funding enables companies to develop and expand their business projects by using institutional private financing institutions which offer to bear part of the business risk for a certain period of time by becoming joint-owner of the capital shares of funding beneficiary company. Usually such period of cooperation between an investor and company ranges from 3 to 10 years. After the period has elapsed (5 – 7 years in most cases), the way-out phase takes place as the result of investor leaving the company by selling-on its company shares (conditions relating to the sale of the company’s capital shares, prices and other requirements are agreed between the investor and the company on a prior basis). Progress.LV Ltd cooperates with a number of foreign private equity funds and merchant banks offering to finance business projects at any stage of development (Seed funding, Start-up funding, Expansion funding etc.).

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