Investment loans to support tourism, hotel and hospitality industry
The support program promotes the improvement of the existing and the construction and commissioning of new infrastructure in the field of tourism, hotel and catering, as well as investments in the direction of strengthening the quality of primary and non-boarding offers in this area, as well as the sustainable valorization of unused tourist resources.
The interest rate is 5.40% on an annual basis with a proportional interest calculation system.
Loans approved under this credit line, financed from the funds of the European Investment Bank (EIB), will be approved at an interest rate of 0.5% to 0.7% lower than the defined interest rate.
For entities that project implemented in municipalities northern region and in municipalities who is are below 100% of the average value of the development index in Montenegro, special incentives will be approved in the form of a 0.5% interest rate reduction.
Depending on the price of the available sources of financing, the interest rate may be higher, with which the beneficiary of the Fund's funds should be properly informed.
The fee for direct arrangements is 0.20% of the approved loan amount.
The deadline for using the loan is 24 month.
Note: IDF MNE JSC also implements this Program by means of commercial banks. More details see in the text Program.
The goal program and purpose
Loans are intended for investments in fixed assets - tangible assets (buildings, equipment and devices, small inventory, etc.), intangible assets (product or service development, patents, licenses, concessions, franchises, etc.) and current assets.
IDF MNE JSC can directly finance up to 70.00% of the total investment value.
If the loan financed from funds European Investment Bank (EIB), funds cannot be be used to finance VAT.
The amount of own capital must not be less than 25.00% of the value of total liabilities, increased by the amount of the requested loan (refers to direct credit arrangements).
The loan amount intended for investment in current assets can be up to 30.00% of the total loan amount.
Users
Beneficiaries of loans can be companies and entrepreneurs in all forms of organization provided for by the Law on Business Companies; persons who perform their activities in a manner defined by the rules of the activities they are engaged in (artisans, entrepreneurs, agricultural producers, etc.) or banks that have business cooperation with IDF MNE JSC.
The end users of these credit arrangements can be entities that provide a certificate from the Tax Administration that they properly settle their tax obligations.
Security instruments
As instruments security loan IDF MNE JSC will to accept promissory notes , mortgage on the real estate , banking guarantees , guarantees local self-government , guarantees of the Government of Montenegro , guarantees creditworthiness legal persons , pledges claims and others usual instruments security in banking business in accordance with acts of IDF MNE JSC i decisions competent authorities of IDF MNE JSC
All costs related to the acquisition of security instruments and the implementation of operations related to insurance, deletion and return of realized instruments are borne by the loan beneficiary.