JEREMIE TRADE FINANCE-COVID19 Guarantee Program

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JEREMIE TRADE FINANCE-COVID19 Guarantee Program

JEREMIE TRADE FINANCE-COVID 19 is a guarantee program of the European Investment Fund for UBB business clients. The program partially secures the bank guarantees, letters of credit, general limits for working capital and issuance of bank guarantees and / or letters of credit, working capital loans, including overdrafts, provided by the bank.

Advantages

Free-of-charge guarantee
Alleviated collateral requirements
Preferential interest rates
Larger opportunities for financing
Option to include newly-approved loans, signed until 31.03.2023.
Long-term experience of UBB in handling EU programmes

Terms and Conditions

Borrowers	Micro, small and medium-sized enterprises, as per the SME Act Small midcaps with staff number up to 499 employees
Purpose	Working capital loans – term loans, credit lines, overdrafts Bank Guarantees and L/Cs Total limits
Maximum amount*	Up to EUR 3 000 000 for SME Up to EUR 1 875 000 for small midcaps
Currency	BGN/ EUR/ USD
Guarantee Coverage	No fee
Inadmissible loans	Refinancing of over 30% of the transaction amount Loans, guaranteed with another instrument of the EIF Financing of European projects Financing of transactions in the sectors, forbidden as per Commission Regulation (EC) № 1407/2013 dated 18 December 2013
Repayment term	From 12 up to 60 months, however not later than 30.11.2025
Collateral-related requirements	Not more than 50% of the loan at the collateral’s discounted value (excluding the JEREMIE TF guarantee)

*The maximum transaction amount with a JEREMIE TF guarantee is indicative, on condition that the grant equivalence of the anticipated and already received de minimis aid, including that under the present loan DOES NOT exceed EUR 200 000 per borrower and its related parties.

The transaction(s) benefit(s) from support from the Documentary Finance Guarantee Facility, implemented by the European Investment Fund and funded by the Ministry of Economy of Republic of Bulgaria within the framework of Programme “Recovery” with national funds, received as reflows from JEREMIE Initiative operations.

Required Documents

Decision of the company’s competent body for obtaining a loan and providing collateral for it
Balance Sheet, Income Statement and a Tax Return for the last 2 years
Collateral ownership documents - copies of the ID cards of the company’s representative - borrower/co-debtor/pledgors/mortgagors
Certificate for availability /lack of arrears, issued by the revenue authority as per Art 87, Para 6 of the Tax Insurance Procedure Code
Declaration of relatedness with other entities as per sample format

Print list

Useful documents

Tariff for Private Individuals and Legal Entities, applicable to contracts with customers for the provision of investment and/or additional services, related to financial instruments RIR for loans to business clients - calculation and values General Terms and Conditions applicable to contracts with customers for the provision of investment and/or additional services, related to financial instruments

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For companies with annual turnover up to 2 mln BGN

For companies with annual turnover above 1 mln BGN

For agri producters

For freelancers with annual turnover below 1 mln BGN

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