Loans for financing permanent working capital for micro, small and medium businesses
Support for investments in working capital and improvement of liquidity of existing business entities.
The interest rate is 5.50% on an annual basis with a proportional interest calculation method.
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, the interest rate is 5.00% on an annual basis with a proportional interest calculation method.
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.
Height fee is 0.30% on the approved loan amount.
The deadline for using the loan is 6 months.
The goal program and purpose
Permanent current assets are funds needed to finance current obligations that arise in the regular business activities of the end user of the loan, and refer to raw materials and materials, supplies, other production costs, and receivables from customers.
According to the above, the loan funds can be used:
•for the procurement of raw materials, raw materials, semi-finished products, small inventory;
•for overhead costs.
Users
Beneficiaries of loans can be companies and entrepreneurs and all forms and organizations provided for by the Law on Business Companies, as well as persons who perform their activities in a manner defined by the rules of the activities they are engaged in (artisans, agricultural producers, PZU, etc.) .
With this credit line, IDF MNE JSC will credit projects of end users who generate income in the following activities:
•Production;
•Wood processing;
•Agriculture and food production;
•Tourism and catering;
•Services;
•Trade.
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 , mortgages on the real estate , banking guarantees , guarantees unit local self-government , guarantees of the Government of Montenegro , sureties creditworthiness legal persons , pledges claims premiums , subsidies , grants and direct payments which provides Ministry agriculture , forestry and water management and others usual instruments security in banking business in accordance with acts of IDF MNE JSC i decisions competent authorities of IDF MNE JSC
As primary agent security of IDF MNE JSC will to accept promissory notes from the sides of the debtor in case it is overdue credit maximum up to 24 months ( including up to 3 months grace period ), only on the condition that the potential users fulfill the following criteria :
-have an appropriate internal credit rating - A or B1, in accordance with the internal acts of IDF MNE JSC;
-the amount of the loan cannot be greater than twice the amount of fixed assets and 20% of the business income of the legal entity reported in the last financial year;
-the amount of own capital must not be less than 25% of total liabilities, increased by the amount of the requested loan ;
-their account must not be blocked when applying for a loan or continuously blocked for more than 10 days in the last 12 months;
-they must not have delays in paying their loan obligations for more than 30 days, including company owners
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 credit user.