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CHARACTERISTCS OF SHORT-TERM LOAN FOR LEGAL ENTITIES
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| Comparative advantages |
Simple procedure and competitive conditions
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| Purpose |
Working capital
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| Amount |
According with the creditworthiness of legal entities
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| Currency |
MKD/EUR
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| Annually interest rate |
EUR: 8,45% - 9,95%
MKD: 12,5% - 14,00% |
| Tenor |
Up to 12 months
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| Disbursement |
The client / supplier gyro account
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| Repayment |
Monthly/ quarterly equal installment |
| Expenses |
• Application fee: 0,1% from the loan amount, min. 600MKD, max. 50.000MKD (once-off, upfront)
• Management fee: 1% annually (upfront)
• Appraisal fee: 5.000MKD, only for the first appraisal
• Early closing fee: 1% of the earlier prepaid amount
• Expenses for ensuring of necessary documentation by appropriate state authority |
| Collateral |
• Mortgage of real estate (land) according with appraisal of authorized appraiser , loan/collateral ratio not less then 1:1,5-1,8 depend of company creditworthiness.
• Bill of exchange with statement signed by company manager (The Credit committee can request guaranteed bills of exchange) |
| Credit criteria |
• Legal entities registered in RМacedonia
• Profitable company
• Assessment of 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) |
| Required Documentation after Application |
• 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 reserves the right to request guaranteed bills of exchange)
July, 2011 |