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Development Loan

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Looking for new operation premises, technology, refurbishing, modernizing or thinking of any other type of investments?
 

Make use of a medium-term or long-term development loan with optional grace period on principal, which is due after completing your development works.

  • the loan will allow you to procure tangible or intangible fixed assets (real estate, machine, set of machines – technological line), ensure their modernization, reconstruction, maintenance, purchase know-how, finance research and financial investments.
  • the bank releases the loan funds based on custom clearance declarations and supplier invoices arising from contracts concluded for the supplies of investment plan up to the amount of approved loan for the given investment plan and within the contractually agreed loan duration.
  • repayments are made from disposable funds usually in form of monthly installments, while with respect to extent of your investment plan, you may apply for grace period on principal, which will be due after the development works are completed.
Whom is it designed for?
  • legal entities running their businesses in the Republic of Albania.
Terms and conditions for granting the loan
  • proving of loan recoverability – is understood an evidence of capacity to meet obligations arising from the loan, repay the loan including interests and fees within requested maturity and under terms and conditions agreed in advance,
  • purpose of the loan - the bank grants the loan for a specific purpose related to investment finance, procurement of any assets crucial for entrepreneur to perform his business activities
  • the bank does not grant loans associated with business activity, that may jeopardize public order, morality or environment,
  • the loan including interests and fees must be sufficiently covered by collateral
  • usual security that the Bank may require:

    • immoveable assets, pledge over movable assets, securities and receivables,
    • security in form of receivable assignment,
    • deposit blocked with Intesa Sanpaolo Bank Albania
    • third - party guarantee
    • bank guarantee
    • blank promissory note,
  • additional conditions may be required depending on the nature of transaction, knowledge and creditworthiness of the entrepreneur, (e.g. notarial deed as a warrant of distress over assets).
Required documents
  • Loan Application in writing,
  • Attachments to the Loan Application depending on amount and type of loan, and nature of the business:
    • documents certifying the license to perform the relevant business,
    • financial statements for the last two completed fiscal periods,
    • business plan, investment plan, contract of work,
    • documents related to the loan security,
    • other documents related to the loan purpose
Overdraft Facility Pricing:
  • Interest: based on the cost of funds to Intesa Sanpaolo Bank Albania, plus a margin. It also depends on the amount of the overdraft, the risk rating of the client and the overall loan pricing. In case of a temp OD line a higher interest margin is charged for making available the facility (necessary liquidity);
  • Administrative fee: 1 o/oo of credit line, min. € 500; Renewal € 500,
  • Interest Period: Monthly
  • Interest base : reviewed quarterly
  • Penalty: (over interest): 5%-10%,
  • Commitment Fee: 1%.
  • Syndication Fee (if applicable)
  • Other Administrative/ Legal
Term Loan Pricing:
  • Interest: based on the cost of funds to Intesa Sanpaolo Bank Albania, plus a margin. It also depends on the amount of the loan, the risk rating of the client and the overall loan pricing;
  • Administrative fee: 1 o/oo of credit line, min. € 500; Renewal € 500,
  • Interest Period: Monthly
  • Interest base : annually / fixed
  • Penalty (over interest): 5%-10%,
  • Commitment Fee 1%.
  • Prepayment fee: 3%
  • Syndication Fee (if applicable)
  • Other Administrative/ Legal
Documentation needed
  • A brief history of its business, and a description of borrower's organizational structure, including the shareholder. Last 12 months should be in detailed
  • Partnership agreement with other companies in Albania or abroad for the sale or development of product (if any)
  • Previous three years of business financial statements and current interim financial statement (audited if possible)
  • Actual business plan, including prospects for the future and analyses of negative factors in the specific business
  • Documents certifying the origin of the property which is going to be pledged
  • A certificate issued by an authorized institution which confirms that such property is not pledged
  • Evaluation of collateral (confirmed by authorized appraisal)
  • Insurance policy of the pledged property
  • Life insurance of the borrower
  • Documents confirming that the Borrower has a credit line with another or other Banks
  • Agreements or contracts with suppliers or consumers
 

 

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