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Loan for agricultural producers

The product „My Eurosubsidy” is intended for agricultural producers and farmers, beneficiaries of EU-subsidies, cultivating rural land, crops, family fields and lawns.

Detailed Info

Facilitated and prompt procedure on approval of credits to be used by farmers for cultivation or maintenance of their land in good agricultural and ecological condition.

Objective
Provisioning of circulating means – for purchase of seeds, planting material, fertilizers etc.

Amount

• Up to 70 % of the amount of the approved subsidy – against special pledge on receipts from „Agriculture” state fund and a promissory note;
• Up to 100 % of the amount of the approved subsidy – against special pledge on receipts from„Agriculture”, state fund, a promissory note and a supplementary security by Bank’s estimation;

Grace period
Until receipt of subsidy from „Agriculture state fund”, but no later than December 30 of the relevant year.

Debt liquidation
Through a single payment upon receipt of the subsidy from „Agriculture state fund”, but no later than December 30 of the relevant year.

Annual interest rate
Basic interest rate + extra as negotiated;

Fees and commission charges
As fixed in Tariff of INTERNATIONAL ASSET BANK AD

Application documents

• Documents needed for application for a credit granted to legal persons.
• Certificate issued by Agriculture state fund confirming the amount of the subsidy and the parameters of the cultivated area.
• General application for a uniform area-based payment with filled in bank account at „International Asset Bank ”AD.
• Document for registration of the agricultural producer certified for the relevant year.

Supplementary terms

• Bank servicing of Company’s operations on accounts opened with International Asset Bank AD.
• Possibility for charging an interest of 4.50% over the unspent subsidy.
• Possibility for advance debt servicing without a penalty charge.