Rietumu Banka has also increased the credit line for West Kredit to 50 million euros.
This will significantly expand lending for the creation and development of small and medium-sized enterprises, the acquisition and reconstruction of real estate, the implementation of renewable energy projects, and other goals of West Kredit's clients. The increase in collateral claims and credit line indicates the active development and potential for further growth of West Kredit. "West Kredit is one of the largest and most experienced players in the alternative financing sector, which is extremely important for Latvia today. This allows many plans and ideas to be realized that would otherwise remain unfulfilled: starting and developing a business, acquiring modern housing, improving quality of life," said Elena Buraya, Chairwoman of the Board of Rietumu Banka. "Thanks to our productive long-term cooperation with Rietumu Banka, our clients have the opportunity to obtain large long-term loans, including fixed-rate loans, effectively plan their activities, develop new projects, and enter new markets," noted Arthur Silantyev, a member of the Board of West Kredit. West Kredit currently offers both small and larger loans to businesses and individuals – up to 500 thousand euros. Individuals can obtain a mortgage loan with a fixed competitive rate for the acquisition of real estate and other purposes. The company's clients can also take advantage of refinancing and loan consolidation services for more effective financial management. West Kredit's near-term plans include the completion of construction and the opening of its own new modern headquarters for clients in the center of Riga.
