First Investment Bank - Loan for farmers based on direct payments per surface unit for season 2012-2013

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Micro-Lending

Loan for farmers based on direct payments per surface unit for season 2012-2013

Fees and Commissions

For farmers - individuals, legal entities, sole traders, co-operations

Up to 100 % of the amount of the subsidy;
The subsidy repays your loan;
Low interest rate – starting from 9.19%;
For working capital and investments;
No early repayment fee upon receipt of subsidy;
Possibility for repayment till the end of 2013 and grace period till July 2013.

Loan Parameters:

Amount:	Without restriction, up to 100 % from the subsidy due under Unified Payment per Surface Unit Scheme
Currency:	BGN, EUR
Term:	Till the end of 2013, with grace period till July 2013
Interest Rate:	Annual interest rate is from 9.19% BIR* for BGN, EUR + surplus from 3 to 5 points. *BIR – Base Interest Rate of Fibank AD, please refer to the Interest Bulletin of Fibank AD.
Loan application fee	0.1%, min. BGN 40
Management Fee	2% once only despite loan term
Prepayment fee	Free of charge in case of prepayment with subsidary funds; 3% in case of prepayment with own funds; 5% in case of fund by other financial institutions.
Renegotiation application fee	20 BGN
Renegotiation fee	1%, min. EUR 25, max. EUR 500
Commitment Fee	free of charge
Acceptable collateral:	All collateral admissible by Law including the equipment bought with the funds from the granted loan.
Utilisation term:	A copy of the general application for unified payment per surface unit, including the annexes thereto, submitted to the municipal offices of agriculture and forests or to the regional branches of the Payment Agency, where must be specified a bank account with Fibank for payment of the subsidy; Certificate by State Fund Agriculture for registered pledge in favour of Fibank on the subsidy due.
Repayment:	As a lump sum upon receipt of the subsidy; it is possible repayment by installments within the period from August to December 2012.
Collateral:	Special pledge on the subsidy due and on the accounts of the Borrower at Fibank.

Note: Micro loans for farmers are granted to persons carrying out agricultural activities, with annual accounting profit up to 250 000 BGN.

General Terms and Conditions of the Program for Microlending of First Investment Bank AD (applicable to the contracts for bank credit and the contracts for overdraft on current account)

e-mail:micro@fibank.bg

Virtual
Banking Branch

e-fibank.bg