Fibank "Loans for farmers based on subsidies under SAPS 2013" is the new product of Fibank (First Investment Bank). The loan amount is determined based on the received support under SAPS (Single Area Payment Scheme) for the previous year. This year farmers will be able to use loan funds from Fibank before starting of Campaign 2013 under SAPS and before the payment of subsidies for Campaign 2012.
"The loan is designed specifically for the needs of farmers who receive their subsidies based on their arable farmland and need working capital or plan other necessary investments for their activities. We are ready to immediately grant loans to farmers up to 100% from the subsidies received in 2012 based on SAPS. Upon the submission of a certificate from the State Fund "Agriculture" for the subsidy determined for 2013, we can increase the amount of funding provided", explained Nadia Koshinska, Director of Small and Medium Enterprises Lending at Fibank (First Investment Bank).