AS Expobank has signed the loan agreement in the amount of EUR 500,000 with the Latvian company SIA Silver Standart Houses, which manufactures energy-efficient houses, building construction elements and roof trusses. It is planned to invest in the expansion of the manufacturing facility and increase the pace of manufacturing in order to further conquer export markets, including the USA and Canada, where the company has already signed the first contracts.
The company manufactures energy-efficient timber frame houses that are safe for human health and quick to install and easy to operate. Universal manufacturing technology can be used for the construction of various functional objects – from terraces, saunas or individual houses, to industrial, office and even multi-apartment buildings and structures and their elements.
“The growing number of customers from different countries is a confirmation of the competitiveness of Latvian companies, despite the conditions of the pandemic. High quality, well-thought-out development plans and concluded contracts in several target markets were among the reasons for the decision to grant the loan. It should be noted that the financing has been granted by attracting an additional collateral instrument – a loan guarantee from the State Development Financial Institution ALTUM,”
points out Vasilijs Karpovs, Member of the Board of AS Expobank.
The manufacturing facility of SIA Silver Standart Houses in Birzgale actively started its operation in 2014 after large-scale reconstruction works – in a 2000 m2 large factory building. The manufacturing facility has all technical equipment necessary for the full life cycle of the product. The company is actively exploring various export markets, maintaining or establishing international relations in 18 countries over the last three years.
“Given that we provide the full project life cycle – we design, manufacture and install ourselves, the opportunity to increase manufacturing capacity and expand operation is very important. During the pandemic, demand has grown significantly, we have concluded the first contracts in several export markets – the USA, Canada and Cyprus. The products have already been manufactured and deliveries are planned for the end of the year. The achieved result is the merit of the whole team, for which I would like to express my gratitude,”
points out Egita Bašena, the founder and co-owner of the company.
SIA Silver Standart Houses is one of the few manufacturers of timber trusses in Latvia, which has acquired the right to label its product with the CE mark, certifying compliance with the standard. The products have modern and full certification ISO 9001 (denotes the current certification of the quality management system in the manufacturing processes of the company) and BREEAM (sustainable construction method, for cooperation with a socially responsible manufacturer).
AS Expobank is one of the oldest banks in Latvia, established in 1991 and celebrating the 30th anniversary this year. At the beginning of 2019, the Bank completely changed its operating strategy and introduced a new business model, starting to increase its market share in the Latvian financial market. This marked a new development start of the Bank, which envisages a competitive financing offers to corporate clients, term deposits for individuals, brokerage services, as well as introduction of innovative financial technologies.
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Head of PR and marketing at AS Expobank