Luminor grants EUR 3 million in financing to construction company SMA

Luminor Bank has granted the Latvian construction company SMA SIA financing in the amount of 3 million euros. This includes a credit line for working capital, construction projects guarantees, and leasing for the purchase of specialized equipment, strengthening the company's financial and technical capacity to implement new projects.

The financing will enable SMA to secure the guarantees required for project execution, while the credit line will provide access to working capital and leasing financing will support the purchase of specialised equipment.

“The development of the road construction sector in recent years has been significantly influenced by the volumes of construction work and the availability of financing. Long project implementation cycles require companies not only to secure new contracts, but also to thoughtfully manage cash flow and maintain financial flexibility between project stages. SMA SIA has developed rapidly, and the allocated funding will strengthen the company's ability to sustain its growth and secure the resources necessary for implementing new projects,” says Ilze Zoltnere, Head of the Corporate Department at Luminor Bank in Latvia.

The company's rapid growth is reflected in its financial results. In 2025, SMA SIA turnover reached 20 million euros, almost four times more than in 2024, while the number of employees increased fivefold over the year. The company actively participates in state and municipal procurements and, in cooperation with other industry stakeholders, implements infrastructure projects.

“Our goal is to establish SMA SIA as a strong and reliable partner in road and bridge construction. As the company grows, we are investing in both our team's expertise and equipment so that an increasing share of construction work can be completed with our own resources. Collaboration with Luminor will allow us to plan our next development steps more confidently and take on larger projects, while maintaining our focus on work quality and deadlines,” says Andris Gitendorfs, Member of the Management Board of SMA SIA.

About SMA

Founded in 2023, SMA SIA is a Latvian construction company specialising in the construction and reconstruction of roads, streets, paved areas and bridges, as well as the reconstruction of railway and tram tracks. The company also undertakes the construction of utility networks and other infrastructure facilities. SMA carries out most of its construction work with its own team and equipment, maintaining direct control over work quality and project execution.

About Luminor

Luminor is the leading independent bank in the Baltic states and the third largest provider of financial services in the region. We provide financial services to individuals, families and enterprises. We are new, dynamic and forward-looking just like Estonian, Latvian and Lithuanian markets.