PrivatBank grants funding to SIA “BALTIJAS KOKU EKSPORTS” for increase of amounts and geography of transportations

PrivatBank has provided a financial lease in the amount of 280 000,00 EUR to SIA “BALTIJAS KOKU EKSPORTS”, for purchase of eight Scania AB trucks and seven Schmitz Cargobull AG universal trailers. The majority of these vehicles has already been in the vehicle fleet of the enterprise since 2014, the remaining vehicles joining in 2016. Currently, through the bank funding, the loan for purchase of the abovementioned equipment is refinanced. Vehicle acquisition takes place, using the financial lease.

SIA “BALTIJAS KOKU EKSPORTS” is a full-cycle logging company; the second sphere of company activities is international freight transportations, for the development of which bank funding is involved. This funding will allow increase significantly the diversified freight transportation possibilities at the European level. The enterprise provides logging and timber transportation services within the local market. The technical park of the enterprise includes various logging equipment, which together with trucks, trailers and forwarders, is able to provide local buyers with qualitative timber; in its turn, the trucks and universal trailers of the enterprise are engaged in operative international transportations across Europe. The vehicle fleet of the company comprises 40 vehicles.

Atis Bialkovskis, the Head of PrivatBank lease department, explains:

We are pleased that we can be a partner of SIA “BALTIJAS KOKU EKSPORTS” in the growth of important auto transportation, providing the enterprise with the most relevant funding model. We understand clearly the specific nature of this business financing that is why we can offer the best funding model for every project development. The total amount of loans issued in 2019 for this segment of business exceeds 2.9 million EUR. The majority (66.23%) of the lease transactions closed by the Bank during the last year were issued for business promotion.

The Chairperson of the Board of SIA “BALTIJAS KOKU EKSPORTS” Aleksandrs Komars highly appreciates cooperation with PrivatBank, as this will allow the enterprise to grow and create new job opportunities.