Loans for Purchase of Prefabricated Silos with the Guarantee by the Guarantee Fund of the AP of Vojvodina

In cooperation with the Guarantee Fund of the Autonomous Province of Vojvodina, Komercijalna Banka has prepared loans for purchase of prefabricated silos.

 

Loans for Purchase of Prefabricated Silos with the Guarantee by the Guarantee Fund of the AP Vojvodina

LOANS FOR PURCHASE OF PREFABRICATED SILOS WITH THE GUARANTEE BY THE GUARANTEE FUND OF THE AP OF VOJVODINA

Purpose of the loan

Financing prefabricated silos (construction, reconstruction, upgrading and adaptation of silos, along with purchase of accompanying fittings)

Preconditions for granting a loan

  • retail customers – title holders of registered farms, who meet the following minimum requirements:
  • to be registered in in the Register of Farms and have an active status
  • to have the place of residence on the territory of the Autonomous Province of Vojvodina,
  • to have a special-purpose account opened with the Bank and registered at the Directorate for Agrarian Payments
  • to be less than 70 years of age on the day the final annuity is repaid;

 

  • Agricultural cooperatives privately owned, micro and small enterprises and entrepreneurs registered for conducting primary agricultural production and processing of agricultural products, who meet the following minimum requirements:
  • to be registered in in the Register of Farms and have an active status – if they are registered for conducting primary agricultural production
  • Registered seat on the territory of the Autonomous Province of Vojvodina,
  • The latest two positive financial statements
  • The applicant operates for at least 3 years or belongs to a group of related legal entities operating for more than 3 years, whereby the application can be filed only by one of the legal entities that is, in accordance with the applicable legal regulations, considered a related legal entity.

Repayment period

Between 13 and 84 months from the disbursement date of the loan/disbursement of the first tranche of the loan

Grace period

Up to 24 months from the date the loan is disbursed/from the first tranche of the loan

Method of repayment

In three-month/six-month/annual installments after the grace period

Currency

RSD with currency clause

Nominal interest rate

Type of client

Interest rate

Farm – retail customers

From 6M Euribor + 5,45 pp to 6M Euribor + 6,75 pp

Agricultural cooperatives, micro and small enterprises

6M Euribor + 6,75 pp

Loan amount

Depending on the creditworthiness of the applicant
total amount to be granted per loan application:

 

 

min: EUR 5.000,00 in RSD counter-value,

max: EUR 150.000.00 in RSD counter-value

Collateral

For retail customers – title holders of registered farms:

•          three blank promissory notes of the loan beneficiary and

•          Irrevocable, unconditional guarantee of the Guarantee Fund of the AP Vojvodina payable at first demand for the amount of 80% of total claim of the Bank arising from the loan (main debt increased by agreed interest and in case of default, by default interest on the amount of debt from the date of maturity until the date of the settlement of such debt at the rate determined by the Law on Default Interest Rate, as well as by fees, costs and alike) in favor of the Bank.

•          First-rank mortgage on agricultural land registered with the competent Department/body of the Directorate for Real Property Registration, at the minimum ratio of 1:1,3 * for the amount of the loan principal, assigned in favor of the Bank for 20% of total claim (main debt increased by agreed interest, and in case of default, by default interest on the amount of debt from the date of maturity until the date of the settlement of such debt at the rate determined by the Law on Default Interest Rate, as well as by fees, costs and alike) and in favor of the Fund for 80% of total claim (main debt increased by agreed interest, and in case of default, by default interest on the amount of debt from the date of maturity until the date of the settlement of such debt at the rate determined by the Law on Default Interest Rate, guarantee issuance fees and alike)

 

For agricultural cooperatives, micro and small enterprises and entrepreneurs:

•          blank promissory notes of the loan beneficiary

•          authorizations given to Komercijalna banka to debit the account

•          personal bills of exchange of the owner if the loan user is a micro enterprise, in accordance with the internal segmentation of the Bank

•          Irrevocable, unconditional guarantee of the Guarantee Fund of the AP Vojvodina payable at first demand for the amount of 80% of total claim of the Bank arising from the loan (main debt increased by agreed interest and in case of default, by default interest on the amount of debt from the date of maturity until the date of the settlement of such debt at the rate determined by the Law on Default Interest Rate, as well as by fees, costs and alike) in favor of the Bank.

•          First-rank mortgage on agricultural land registered with the competent Department/body of the Directorate for Real Property Registration, at the minimum ratio of 1:1,3 * for the amount of the loan principal, assigned in favor of the Bank for 20% of total claim (main debt increased by agreed interest, and in case of default, by default interest on the amount of debt from the date of maturity until the date of the settlement of such debt at the rate determined by the Law on Default Interest Rate, as well as by fees, costs and alike) and in favor of the Fund for 80% of total claim (main debt increased by agreed interest, and in case of default, by default interest on the amount of debt from the date of maturity until the date of the settlement of such debt at the rate determined by the Law on Default Interest Rate, guarantee issuance fees and alike)

Front-end fee

1,00% of the amount of approved loan, one-off payment up-front

Prepayment fee

No fee