European Subsidy Agricultural Loan – Campaign 2011

 

European Subsidy Agricultural Loan Campaign 2011
 

Borrowers
Agricultural producers with own or rented land applied for support with EU subsidies
Loan purpose
Bridge financing for up to 85% of the total amount of the expected direct payments (subsidies) per agricultural producer. The loan amount could reach 95% of the total amount of the expected direct payments (subsidies) per agricultural producer that has been financed under the product during the previous two campaigns and the initial amount of the subsidies applied for has not been reduced.
Loan type
Working capital
Currency
BGN
Promotional interest rate*
7.5%
Interest rate after the end of promotion
8.5%
Fees
Opening of a current account for receiving the subsidies – free of charge
Bank account certificate – BGN 5
No application fee for clients financed under the product during the previous two campaigns
Amount
Min. BGN 5 000
Disbursement
Once-off
Loan period
Until subsidies payment, not later than 30 June 2012
Repayment
Repayment with the received subsidies
Collateral
Pledge of future subsidy receivables and funds in clients’ accounts
Personal guarantee (for legal entities)
Restrictions
The bank account for receiving the subsidies has to be in UBB.
Loan applications are received by 1 December 2011.

 * Preferential interest rate for the first loans under the product. The preferential interest rate is provided under joint program with the Bulgarian Development Bank and is in force up to the available under the program limit.