1) The document discusses challenges and opportunities for implementing financial engineering measures to support small and medium enterprises (SMEs) in Lithuania. 2) It outlines previous financial initiatives in Lithuania since 1994 that provided microcredits and guarantees to SMEs. 3) Key opportunities identified include the revolving nature of financial engineering instruments, developing entrepreneurship culture, and partnerships between organizations providing financing to SMEs. Challenges at the EU and national level relate to regulation, eligibility, monitoring and ensuring stable access to financing.