Revolving micro loan

Loans for manufacturers, traders and freelancers

Our offer

Revolving micro loan offers you:

  • Possibility to finance start-up businesses;
  • Simplified application procedure;
  • A repayment schedule tailored to the capabilities of your business;

 

Why choose micro loan from Fibank?

  • No limit on the amount of the loan;
  • Long repayment period;
  • Possibility to use the loan at an even lower interest rate;
  • Possibility to use a grace period;
  • if you are a loan applicant from Sofia, you can use a guarantee from the Municipal Guarantee Fund for Small and Medium-sized Enterprises of the Sofia Capital Municipality to partially secure your loan.
  • Long repayment period - up to 10 years
  • New as of June 2022: Unsecured loans - up to BGN 80,000

 

Loan parameters

 

Amount:

No limit on the amount

Possibility of obtaining an unsecured loan of up to BGN 80,000.

Term:

• up to 10 years with collateral in the form of mortgage;

• up to 7 years for loans with other collateral;

• up to 5 years for unsecured loans/if the owners and managers commit themselves as co-debtors under the loan

Loan currency:

BGN, EUR, USD 

Grace period:

·         up to 1 month;

·         up to 9 months for seasonal business.

Interest rate conditions

The annual interest rate of the loan is formed on the basis of an internal bank credit rating - compound interest BIRa/BIRb/BIRc* + surcharge.

Possibility of an additional interest rate preference for clients who also use other Fibank products.

* Base interest rate (BIR) is applicable to business clients, and it is a variable interest rate index that the Bank uses as a base interest rate when calculating the variable interest rate on the loan applicable to the contract. The BIR is approved by Fibank's Board of Directors and calculated according to a methodology announced by Fibank for each individual type of currency, based on the ratio between the planned costs of the Bank's liabilities and the market interest rates for the same currency, applicable to loans in national and foreign currencies. BIRa, BIRb and BIRc represent the base interest rate adjusted by a coefficient for the market environment for business clients with an internal bank credit rating, respectively in the interval 1-2 (for BIRa), 3-4 (for BIRb) and 5-6 (for BIRc) . The Bank makes public the base interest rates - BIRa, BIRb and BIRc that it applies, by announcing and publishing them on the Bank's website at www.fibank.bg;  

Collateral: (separately or in combination)

For exposures up to BGN 80,000:

·         no collateral is required, owners and managers commit themselves as co-debtors.

Depending on your individual credit rating, a guarantor or pledge on fixed tangible assets/receivables under contract may be required.

For exposures up to BGN 100,000 without a requirement for a mortgage on real estate, it is accepted:

·         guarantee by a natural person or a company;

·         pledge of machines, equipment, motor vehicles;

·         pledge on receivables under contract;

·         the owners and managers commit themselves as co-debtors.

For exposures over BGN 100,000:

·         mortgage on real estate;

·         the owners and managers commit themselves as co-debtors.

A guarantee from the National Guarantee Fund or the Municipal Guarantee Fund for Small and Medium-sized Enterprises of Sofia Capital Municipality can be used to partially secure the loan.

Method of absorption:

As a one-off sum

Method of repayment:

·         equal monthly installments (annuities);

·         equal installments on the principal;

·         in case of seasonal nature of the business - specified repayment schedule.



Application and documents

To grant a loan, the Bank's credit specialists develop an individual offer tailored to the specific needs, credit history and principle of work in your company.

 

It will be our pleasure to help you find the optimal solution for your business needs.

 

To make an inquiry for loan, you can contact the Bank's credit specialists in one of the following ways:

  • phone: 02/817 1366; 02/817 1365; 02/800 22 73;
  • ask for our credit specialists at the Bank's branches and offices;
  • send an inquiry to micro@fibank.bg

 

Documents required for natural persons:

  • copies of the identity cards of the credit applicant/co-debtor/the person providing the collateral;
  • documents certifying the collateral ownership;
  • annual tax return for the last accounting year;
  • certificate of presence/absence of obligations issued by the revenue authority under Art. 87, paragraph 6 of the Tax and Social Security Procedure Code;
  • related party declaration issued according to Fibank (First Investment Bank) sample form;
  • a power of attorney for NSSI;
  • an application for granting a micro loan to natural persons.

 

Documents required for legal entities:

  • decision of the competent body to withdraw and secure the loan;
  • balance sheet, statement of income and expenses and annual tax return for the last year;
  • documents certifying the collateral ownership;
  • copies of the identity cards of the representative of the company - credit applicant/co-debtor/the persons providing collateral;
  • certificate of presence/absence of obligations issued by the revenue authority under Art. 87, paragraph 6 of the Tax and Social Security Procedure Code;
  • related party declaration issued according to Fibank (First Investment Bank) sample form;
  • a power of attorney for NSSI;
  • an application for granting a micro loan to legal entities.