Amount:

No limit in the loan amount:

·         before receiving a certificate from the State Agricultural Fund (UIN) for the relevant business year: the amount of the loan is up to 100% of the expected amount of support according to the general application for support for the previous business year; the loan is absorbed in tranches up to the amount of payments received for the previous campaign;

·         after receiving a certificate from the State Agricultural Fund (UIN) for the relevant economic year, the amount of the loan is up to 100% of the expected subsidies according to the indicative rates for each scheme and each measure; the loan is absorbed up to the expected amount of support according to the certificate from the State Agricultural Fund.

Purpose of the loan:

for working capital and for investments

Loan currency:

BGN

Term:

revolving loan with a term of up to 5 years

Interest rate:

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;  

Credit transaction application fee:

0.15% of the requested amount, min. BGN 100.00;

Management commission:

0.75% per year or part thereof;

Early repayment commission:

·         no commission for repayment with subsidy funds;

·         2% in case of early termination of the contract.

Method of repayment:

Revolving loan - with each received subsidy amount, a corresponding part of the loan obligation is repaid. The borrower has the right to use again the repaid part of the loan for the next period of support, subject to a positive decision of the bank and up to the amount of subsidies already received and within the period of receipt of the payment under the relevant subsidy, but no later than June 30th of the year, following the expiration of the relevant support period.*

Collateral:

·         First in line special pledge in favor of the Bank on all current and future receivables from the State Agricultural Fund under all schemes and measures of the Common Agricultural Policy. After receiving the URN and UIN for each business year, but no later than July 31st, the registered pledge on receivables is individualized.

·         Special pledge on receivables under all accounts of the borrower at First Investment Bank AD or conclusion of financial collateral agreement with the provision of pledge on current accounts.

The owners and managers of loan applicants who are legal entities have to commit themselves as co-debtors or guarantors.