Loan for the purchase of agricultural land

Loans for investments - purchase of agricultural land

Our offer

Why choose a loan for the purchase of agricultural land from Fibank?

  • Possibility of financing 100% of the investment
  • long loan term - up to 15 years;
  • long drawdown period - up to 12 months;
  • possibility of partial drawdown.

 

Loan parameters:

 

Amount:

  • up to 80% of the value of the agricultural land purchased, if it is the only collateral for the loan;
  • up to 100% of the value of the agricultural land purchased, if additional collateral is offered in the form of a mortgage on real estate with a value of at least 25% of the price of the agricultural land accepted by the bank

Loan currency:

EUR

Term:

up to 15 years

Drawdown period:

  • up to 12 months

Partial drawdown of the loan is permitted up to 80% of the accepted value of the collateral, and within 30 days of drawdown, a first mortgage must be established on the purchased agricultural land.

Interest rate:

The annual interest rate on the loan is based on an internal bank credit rating – composite interest rate BIRa/BIRb/BIRc* + surcharge.

* Base interest rate (BIR) – applicable to business customers is a variable interest rate index that the Bank uses as a base for calculating the variable interest rate applicable to the loan under the agreement. The BIR is approved by the Management Board of Fibank and calculated according to a methodology announced by Fibank for each individual currency based on the ratio between the planned expenses on the Bank's liabilities and the market interest rates for the same currency, applicable to loans in national and foreign currency. BIRa, BIRb and BIRc represent the Base Interest Rate adjusted by a market environment coefficient for business customers with an internal credit rating, respectively in the range 1-2 (for BIRa), 3-4 (for BIRb) and 5-6 (for BIRc). The Bank publicly discloses 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;

Repayment method:

  • annuity payments;
  • equal principal instalments;
  • individual repayment schedule.

Collateral:

  • first mortgage on agricultural land purchased with loan funds;
  • contractual mortgage on other real estate;
  • guarantee from the owners of the company and the additionally provided collateral or their inclusion as co-debtors in the loan agreement, except when the borrowers are sole traders or agricultural cooperatives;
  • financial collateral agreement with a pledge on the payment accounts or a special pledge on the receivables on the borrower's accounts with Fibank.


Application and documents

In order to grant a loan, the Bank's credit specialists develop an individual offer tailored to the specific needs, credit history and operating principles of your company.

We will be happy to help you find the optimal solution for your business needs.

To submit a loan application, you can contact the Bank's credit specialists in one of the following ways:

  • tel.: 02/817 1258; 02/800 22 73;
  • visit the credit specialists at the Bank's branches and offices;
  • send an enquiry by email micro@fibank.bg

Required documents for individuals:

  • copies of the identity cards of the loan applicant/co-debtor/person providing collateral;
  • Documents proving ownership of the collateral;
  • tax return for the last reporting year;
  • certificate of existence/absence of liabilities from the revenue authority under Article 87(6) of the Tax and Social Security Procedure Code;
  • declaration of affiliation with other persons according to the Fibank (First Investment Bank) template;
  • power of attorney to the National Social Security Institute;
  • application for a microcredit for individuals.

 

Required documents for legal entities:

  • decision of the competent authority for drawing and securing the loan;
  • balance sheet, income statement and tax return for the last year;
  • documents proving ownership of the collateral;
  • copies of the identity cards of the representative of the company - the loan applicant/co-debtor/persons providing collateral;
  • certificate of existence/absence of liabilities from the revenue authority under Article 87(6) of the Tax and Social Security Procedure Code;
  • declaration of affiliation with other persons according to the template of Fibank (First Investment Bank)
  • power of attorney from the National Social Security Institute;
  • application for microcredit for legal entities.


Sample documents