Amount:

No limit on the amount
Possibility of obtaining an unsecured loan of up to BGN 80,000.

Term:

• up to 25 years with collateral in the form of mortgage;

• up to 10 years for loans with other collateral;

• up to 7 years for unsecured loans/if the owners and managers commit themselves as co-debtors under the loan

Grace period:

• up to 6 months;

• up to 9 months for seasonal business.

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;  

Collateral: (separate 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 150,000 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 of receivables under contract;

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

For exposures over BGN 150,000:

·         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.

Self-participation:

·         no requirement for self-participation for loans with collateral in the form of mortgage of real estate and pledge on fixed tangible assets;

·         20% for other loans.

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.