Riga, 2016-01-20 16:43 CET (GLOBE NEWSWIRE) -- In the current financial conditions banks are very cautious to finance businesses, especially small and medium sized enterprises.. Globally as well as in Estonia alternative financing providers like Capitalia - FundingCircle (UK), Marketinvoice (UK) and OnDeck (USA) - are stepping in and providing capital that businesses need to develop. Similar decrease of financing reliance on the commercial banks can be expected also in Estonia, as it is in Latvia and Lithuania.
„We are very excited to start working in Estonia as we see here similar market need and opportunities like in Latvian and Lithuanian markets. We will target the companies that have received „no“ from commercial banks and try to help them with financing to enable their business growth“ commented Alar Lūkk, manager of Capitalia in Estonia.
Capitalia specializes in financing small and medium enterprises and has been operating in the market since 2010. It started as a financial institution that serves businesses who are unable financing from commercial banks. However, thanks to its simple and fast application and review process, companies in Latvia and Lithuania often use Capitalia’s financing instead or in addition to banks. On top of loans, Capitalia provides also invoice purchasing service that has grown to be a popular tool for managing cash flow for small and medium sized companies.
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NASDAQ represented Capitalia is the leading financing provider for small and medium enterprises in the Baltic States. To date Capitalia has financed more than 500 enterprises investing over EUR 12 million in growth of small businesses.
Juris Grišins 28800880 juris@capitalia.lv
