Industra Bank has granted SIA "Koku cenas" 200 thousand euros credit line for current asset financing. The company was founded only less than a year and a half ago but has successfully found its special niche and is currently attracting bank financing for faster development. The company has also attracted Altum's guarantee to receive the credit line.

SIA "Koku cenas" is a 100% Latvian local capital company, which was founded in May 2021 by two professionals with more than 10 years of experience in the industry – Jānis Dūmiņš and Mārtiņš Ģērmanis. The company's activities are logging, timber purchase, sale, and consulting in forestry matters. Its main goal is to provide customers with correct and up-to-date information on timber prices, thus helping them to find the best offer when selling timber or selling felled timber "on the stump". Considering customer demand and professional skills, in addition to consulting and information services, the company also provides logging services, as well as buys logs and logs in warehouses.

CEO of Industra Bank Raivis Kakānis: "When considering the possibility of granting bank financing, a very important factor for us was the convincing knowledge about the industry of the owners of SIA "Koku cenas", the deep understanding of their target customers and the well-thought-out financial plan. We are pleased with the opportunity for Industra Bank to be a partner of this company on their development path."

Mārtiņš Ģērmanis, a member of the board of SIA Koku cenas, comments: "Considering that the company is new and has no credit history, most Latvian banks are not supportive in such cases. We thank Industra Bank and Altum, who came forward and helped us by granting a credit line. It is difficult to start a business without any support. We hope that we will be able to use the support provided to us for the further development and growth of the company."