Sorainen has provided pro bono advice to Invega on Covid-19 measures for affected businesses.
According to Sorainen, “Invega invited financial institutions to apply to participate in implementing the Portfolio Guarantees for Loans 2 and Portfolio Guarantees for Factoring 2 incentive financial instruments. Both measures are designed to help businesses access or restructure funding when they lack funds. The Portfolio Guarantees for Loans 2 instrument is designed to facilitate access to finance in the form of loans and leasing, while the Portfolio Guarantees for Factoring 2 instrument is designed to facilitate the provision of factoring financing for commercial transactions.”
According to the firm, the measures are implemented through financial institutions, “thus reducing the risk of business financing. These measures are part of a government-approved economic stimulus package to help businesses reduce losses resulting from the quarantine.”
Sorainen’s team included Senior Associate Agne Sovaite and Associate Goda Drasute.
