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CHARACTERISTICS OF FRAMEWORK LIMIT
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| Comparative advantages |
Simple procedure and competitive conditions
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| Purpose |
Short term loans, letter of guarantee and letter of credit
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| Amount |
According the creditworthiness of legal entities
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| Currency |
MKD/ EUR
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| Annually interest rate |
EUR: from 8.45%
MKD: from 10.00%
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| Tenor |
The line of credit is for the period of 5 years, with annual review. The short term loans, letter of credits and letter of guarantees issued in the frame of the line of credit with max. duration of 12 months.
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| Disbursement |
The client / suppliers gyro account
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| Repayment |
Successively up to 12 months or equal monthly / quarterly installments |
| Expenses |
• Application fee : 0,1% from the loan amount, min. 600MKD, max. 50.000MKD (once-off, upfront)
• Management fee: 1% (upfront) , annually
• Appraisal fee: 5.000MKD, only for the first appraisal
• Early closing fee, none
• Expenses for ensuring of necessary documentation by appropriate state authority |
| Collateral |
• Mortgage of real estate (land) according appraisal of authorized appraiser , ratio loan/collateral not less then 1:1,5-1,8, depending of company creditworthiness.
• Blanco bill of exchange with statement signed by company manager (The Credit committee reserves the right to request guaranteed bills of exchange) |
| Credit criteria |
• Legal entities registered in RМacedonia
• Profitable company
• Assessment of the company creditworthiness based on credit analysis made by credit officer of the Bank |
| Required Documentation for Application |
• Request signed by company ‘s manager
• Registration document from the Central Register, not older than 6 months
• Authorized signature form certified by a notary public
• Official financial statements for the last 3 years (if the company is active 2 years, then it’s needed financials for the 2 years)
• Interim Financial Statement
• Valid title deed (for appraisal)
• Original invoice for pledge (for appraisal) |
| Required Documentation after approval |
• Original Registration document from the Central Register , not older than 14 days
• Original valid title deed (the latest date for the notary)
• The original certificate from the Cadastre, that property is not under mortgage
• The original certificate that the firm is not in bankruptcy
• The original confirmation that the firm doesn’t have liquidation procedure
• Statement for (non)relation with the Bank (the Bank gives the form)
• Statement and/ Decision on obligation for the facility, establishing collateral, issuing bills of exchange and authorizing a person to sign the agreement, bills of exchange and notary public deeds
• Blanco bill of exchange with statement signed by the company’s manager (The Credit committee can request guaranteed bills of exchange)
April, 2012 |