Credit Purpose:
For working capital in the borrower’s ordinary course of business. *

* No refinancing is allowed of effective credit commitments of the borrower and/or persons related to it, including but not limited to debt substitution, assignment of receivables with deferred payment, novation, etc.

Target Group:

  • agricultural producers – natural and/or legal persons producing unprocessed and/or processed vegetable and/or animal products from fish and aquacultures intended for sale, who shall be registered with the register of agricultural producers of the Ministry of Agriculture and Food and who have received subsidies under SAPS and NCS in the previous year

Credit amount:

  • minimum BGN 50 000 – maximum BGN 500 000 but not more than 90% of the amount of the subsidy specified in the Certificate of State Fund “Agriculture” – Payment Agency

Currency:
BGN

Repayment Term:

  • up to 18 months but not later than 30 June every calendar year following the year of filing the application for receiving subsidies

Current utilisation / repayment:

  • one-off

Repayment Method:

  • one-off upon receipt of the funds from the subsidy paid by State Fund “Agriculture” – Payment Agency. On non-payment of the subsidy the client undertakes to repay the credit with own funds at maturity.

Credit Collateral:

  • Pledge of receivable funds from expected subsidies under SAPS and NCS
  • Promissory note, issued by the borrower and avalled by the partners as natural persons
  • All eligible collateral for the Bank, in accordance with the internal rules on lending and instructions to them

Additional Conditions:

  • upon receipt of the subsidy and repayment of all obligations of the borrower on the principal and interest, the blocking of the current account for subsidies is lifted and all available funds in the account remain at the borrower’s disposal.

Options for additional services:

  • international debit card Visa Business Electron
  • international credit card MasterCard Business
  • current account with differentiated interest accrual
  • internet banking
  • refinancing of current credit exposure at other banks