COVID-19

How do I apply for a loan break?

Businesses for whom repaying loans has become difficult due to the spread of COVID-19 can delay repaying their base repayment sum on Microloans and LPS agreements for up to 3 months. If the client fulfils the conditions of the ALTUM Covid Portfolio Guarantee, base repayments may be delayed for up to 6 months. 

When loan breaks are granted:

  • The industry a business is in has been significantly impacted by measures stopping the spread of COVID-19;
  • The turnover of a business has dropped by at least 30% in one month;
  • The business has no late payments of more than 10 days within 6 months.

How do I receive a loan break?

  1. Go to the Citadele online bank under Contact the bank and fill in an Application to delay base loan repayment, or apply for an in-person consultation by phone at 6701 0000.
  2. If the business’ turnover comes into other banks, attach an account statement for the past 12 months,
  3. After we process the application, we will confirm the changes on the online bank and notify you of your altered repayment schedule.

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