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High amount of overdraft
Possibility for a high amount of overdraft because of the inclusion of all eligible subsidies in the base for calculation.
On the basis of this credit product you can use financing for working capital after obtaining approval for a subsidy from the State Fund Agriculture. The financing under the loan can be used for all activities related to the cultivation of land - ploughing, sowing, fertilizing.
Possibility for a high amount of overdraft because of the inclusion of all eligible subsidies in the base for calculation.
Annual review and individual calculation based on declared areas/animals for the respective year.
Possibility to use additional credit limits with or without a collateral.
The product is intended for farmers and livestock owners who are approved for receiving a subsidy from the State Fund Agriculture. It is provided in the form of an overdraft to a current account and the amount is calculated on the basis of the stated areas and/or animals for which a request for support is submitted each current year.
Credit parameters | |
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Amount | Up to 100% of the expected EU subsidy max. BGN 1 200 000 |
Currency | BGN |
Business history | Min. 24 months |
Period | Up to 18 months, but not later than 5 July of the following year |
Interest rate | It is based on Short-term Interest Rate according to the BNB statistics plus a margin determined individually depending on the amount, currency and term of the requested credit. |
Collateral | Establishment of a pledge on the subsidy approved by the Paying Agency and on the borrower’s receivables in the borrower’s accounts with the bank. |
Payment |
The product allows for a one-time full repayment of the principal on the loan upon receipt of the subsidy in the borrower’s account with the bank. |
Reply period | Within 5 business days. |
Fees and commissions | According to the Bank’s Tariff. |
Application procedure
You are welcome to a Raiffeisenbank bank office that is convenient for you or to the Business Center Small Enterprises of Raiffeisenbank:
Visit the nearest office of Raiffeisenbank.