back

Loan for Agricultural Land Purchase

Loan for the purchase of agricultural land.

Loan Parameters:

 

Amount:
  • Up to 70% of the value of the agricultural land to be purchased, when such land is the only loan collateralм
  • When additional collateral is provided, the investment of the client in the purchase of agricultural land may be financed entirely with bank-loan funds.
Currency: BGN, EUR
Term:

Up to 15 years

Interest Rate: To be negotiated
Grace Period: To be negotiated for each separate transaction
Repayment:
  • Annuity contributions;
  • Equal installments for repayment of the principal;
  • Individual repayment schedule.
Collateral: First in line mortgage on the agricultural land purchased with the bank-loan funds, as well as any other collateral permitted by the law.

 

І. Application Procedure

In order Fibank to grant you a loan, the loan specialists of the Bank shall prepare an individual offer, tailored to the specific needs, the loan history and the principle of operation of your company.

It will be our pleasure to help you find the optimal solution for your business needs.

To place a loan request, you may choose to contact the loan specialists of the Bank in one of the following ways:

  • For Sofia: phone.: (+359 2) 800 2915; (+359 2) 942 6601; (+359 2) 800 2876; (+359 2) 800 2027;
  • For the country: ask for the loan specialists at the Bank branches in the country;
  • Make an e-mail request at: sme@fibank.bg.

ІІ. Necessary documents:

  • Loan application (using the template, provided by Fibank);
  • Related party declaration and legal entity beneficial owner declaration (using the template, provided by Fibank);
  • Declaration of marital and property status (using the template, provided by Fibank);
  • Financial statements;
  • Certificate issued by SFA for the size of the areas, declared in the general application, eligible for financial support;
  • Copy of the Borrower’s registration as an agricultural producer;
  • Certificate issued by the Revenue authority denying or confirming the existence of obligations (under Article 87, paragraph 6 of the Tax and Social Insurance Procedure Code);
  • Bank statement of current accounts;
  • Certificate denying/confirming the existence of enforcement proceedings;
  • Certificate denying/confirming the existence of insolvency proceedings;
  • Other documents that may be requested at the discretion of the Bank.

Tariff of Fees and Commissions (TARIFF) of First Investment Bank

Contact a loan officer with First Investment Bank.

He/she will provide you with initial information and a “Loan Application Form”.

Fill in the loan application form providing detailed and correct information.

If you need more space you can provide additional data in appendixes to the loan application form. This will help the loan officer to take the right decision in a timely manner. The shortage of information and incorrect data may delay the process and even serve as grounds for loan rejection. If you need any assistance to fill in the loan application form please contact the relevant loan officer.

Share your plans and problems with your loan officer.

This will contribute to the right planning and structuring of the loan transaction. Also you will receive a competent advice from our professionals

Ask questions.

From the very beginning you should be aware of your rights, obligations and responsibilities for the whole period of the loan. There should be no condition that is not completely clear to you.

Check if the collateral presented by you under the loan transaction is free of any encumbrances.

Otherwise you may incur expenses related to the loan agreement execution without being in position to utilize the loan amount. The Bank will grant the loan only if first mortgage is entered in its favour.

Do not hesitate to share or provide negative information.

This will show that you are aware of the existing problems. If the loan officer finds such information during the course of examination it will not be in your favour.

After the loan utilization stay in touch with your loan officer till the full repayment of the loan.

The loan repayment on regular basis as well as presentation of information regarding your business development on the same basis will make you good and desirable partner of First Investment Bank AD.

For Farmers