Overdraft is a flexible and convenient tool which allows you to maintain stability of your business when payments from counterparties are delayed, or when there is a shortage or lack of funds in the current account.
By using the overdraft service at PJSC “CREDIT AGRICOLE BANK”, you receive substantial advantages:
- unrestricted receipt of credit funds (by means of submission of payment documents to be repaid to the bank);
- possibility of receiving overdraft without collateral;
- credit limit may be increased provided the volume of funds coming to the account grows;
- cost of overdraft may de decreased through independent regulation of lending terms within the period of non-stop utilization;
- automatic repayment of overdraft and interest at the expense of funds coming to the current account of the customer.
Terms of financing:
|Object of financing
||Financing of the working capital replenishment which is used by the customer to finance operating cycle
|Maximum loan amount
||For the blank overdraft:
For secured overdraft – up to 75% of the average monthly income for the last reporting year.
- against turnovers at PJSC “CREDIT AGRICOLE BANK” - up to 40% of the amount of average net monthly inflows;
- against turnovers at another bank – up to 10% of the amount of average net monthly inflows.
||Up to 12 months.
Period of uninterrupted overdraft utilization:
- for blank overdraft – 90 days;
- for secured overdraft – 365 days.
|Form of loan disbursement
||Overdraft is set on the customer’s current account
||Automatic repayment of debt and interest by entering funds to the current account
|Commission for loan issue
||One-time payment of 1% of the amount of established limit
|Requirements for borrowers
- customer whose business is in operation not less than 12 months;
- financial stability and solvency;
- opening of a current account with PJSC “CREDIT AGRICOLE BANK”;
- for existing customers – an active user of the current account at PJSC “CREDIT AGRICOLE BANK” for at least 6 months;
for new customers – to transfer turnovers from the other bank to PJSC “CREDIT AGRICOLE BANK” within the first three months.
|Requirements for collateral
||Personal property and real estate belonging to the borrower or guarantor can be pledged as collateral, as well as commodities and materials.
|Insurance of pledged property
||At any insurance company of customer’s choosing from those approved by the Bank
To receive a loan, you need:
You can get more detailed information by addressing the SME manager in your city.