CyrillicROMA ENTREPRENEURSHIP DEVELOPMENT LOAN
The ROMA ENTREPRENEURSHIP DEVELOPMENT PROMOTION PROGRAM is implemented by the Ministry of Economy of the Republic of Serbia in cooperation with the Serbian Export Credit and Insurance Agency a.d. Užice and Postal Savings Bank. The subject of the Program is the provision of 100% guarantees for favourable loans granted by Postal Savings Bank to micro, small and medium-sized enterprises whose founders are residents of Roma nationality, as well as entrepreneurs of Roma nationality.
The total funds for the implementation of this Program amount to RSD 120,000,000.00 and represent de minimis state aid.
WHO CAN APPLY FOR A LOAN? - Start-up businesses (legal entities and entrepreneurs) that have been operating for less than 24 months and business entities (legal entities and entrepreneurs) that have been operating for longer than 24 months.
MAXIMUM LOAN AMOUNT - up to RSD 6,000,000.00 depending on the type of product.
MAXIMUM REPAYMENT PERIOD - up to 60 months, including a maximum of 6 months grace period, depending on the type of product.
USE OF FUNDS AND PERMITTED ACTIVITIES
- financing of investments (procurement of equipment, machinery, plants, delivery vehicles for transporting own products and other means of transport included in the production process, purchase or adaptation of business or production space, etc.) and
- financing of operating costs in accordance with internal procedures and credit policy of the commercial Bank. The types of costs that are considered operating costs are: purchase of working capital, current maintenance costs, salaries, lease of production and/or office space, payment of electricity and water expenses, and other operating activities directly related to performing business operations.
The loan funds are earmarked and cannot be used for reimbursement of the costs of activities that have already been started or completed, as well as for payment of loan installments, loan restructuring, loan repayment at another bank, or covering other costs not provided for by the Program.
PROGRAM DURATION - The public invitation is open until the funds in the Program are used up, at the latest until 31 December 2023.
SPECIAL OFFER
Client segment
Start-up businesses (legal entities and entrepreneurs) operating for less than 24 months and businesses (legal entities and entrepreneurs) operating for more than 24 months
Type of product
1. Financing of investments (procurement of production equipment, machinery, plants, seedlings, purchase or adaptation of business or production premises, etc.)
2. Financing of operating costs of business
3. Combined financing of investments and operating costs of business (operating costs of business can participate up to 20% in the structure of the total investment).
2. Financing of operating costs of business
3. Combined financing of investments and operating costs of business (operating costs of business can participate up to 20% in the structure of the total investment).
Amount
Financing of operating costs: up to RSD 3,600,000.00
Financing of investments: up to RSD 6,000,000.00
Combined financing: up to RSD 6,000,000.00
Financing of investments: up to RSD 6,000,000.00
Combined financing: up to RSD 6,000,000.00
Currency of the Loan Contract
RSD
Loan repayment period
1. Loans for financing investments - up to 60 months with a maximum grace period of 6 months
2. Loans for financing operating costs - up to 36 months with a maximum grace period of 3 months
3. Combined financing - investment loan conditions shall apply
2. Loans for financing operating costs - up to 36 months with a maximum grace period of 3 months
3. Combined financing - investment loan conditions shall apply
Loan repayment method
In equal monthly installments, after the grace period expiration date
Fee for obtaining the Credit Bureau report*
RSD 1,440.00 for a legal entity
RSD 600.00 for an entrepreneurial business
RSD 246.00 for the natural person - founder
* there may be additional costs for obtaining the Credit Bureau report if there are new guarantors, pledge debtors, natural and legal persons for the placement in question.
RSD 600.00 for an entrepreneurial business
RSD 246.00 for the natural person - founder
* there may be additional costs for obtaining the Credit Bureau report if there are new guarantors, pledge debtors, natural and legal persons for the placement in question.
Execution fee
One-time fee in the amount of 0.5% prior to use of the loan
Annual interest rate
1 M BELIBOR+ 2 pip annually
- proportional method of interest calculation
- The calculation and collection of interest during the loan repayment period is done monthly for the previous month, i.e. on the due date of the loan
- The amount of the interest rate at the time of loan disbursement is determined as the sum of the value of 1M BELIBOR (published on the NBS reference page) valid on the first day of the current month, and the fixed margin.
- Adjustment of the interest rate is done monthly, using the value of 1M BELIBOR (published on the NBS reference page)
Security instruments
- Minimum security
- Bills of exchange of the Borrower
- Personal bills of exchange issued by the owner
- State guarantee
- Additional security depending on the creditworthiness of the applicant and the purpose of the loan:
- first-rank mortgage on immovable property in favour of the Bank (mandatory if the immovable property is the subject of financing under the loan agreement);
- first-rank pledge on movable property in favour of the Bank (mandatory if the movable property is the subject of financing under the loan agreement);
- joint guarantee of other legal entities, entrepreneurs and/or natural persons;
- guarantee of a permanently employed natural person, i.e. attachment of salary;
- life insurance policy for the loan beneficiary - entrepreneur, founder or co-founder of a micro or small business enterprise;
- all other security instruments acceptable to the Bank.
Other Information
Loan may be repaid early in full or in part at any time without payment of any Bank fees in that respect.
This offer is purely indicative in nature and does not imply any obligation of the Bank to grant loans to individual applicants. The final decision of the Bank in relation to each individual request will depend on approval by the relevant authorities and will be based on a detailed legal and economic analysis, among others, of economic, financial, legal, technical and other parameters.
For more information about the Program, please contact the local Postal Savings Bank branch or send your request by email at: plasmani@posted.co.rs
REPRESENTATIVE EXAMPLE - LOAN FOR COVERING OPERATING COSTS
Type of loan
Financing of operating costs of business (working capital and liquidity)
Loan currency
RSD
Loan amount
RSD 500,000.00
Repayment period
up to 24 months
Minimum security
- Bills of exchange of the borrower
- Personal bills of exchange issued by the owner
- State guarantee
Nominal interest rate (annually)
1 M BELIBOR+ 2 pip annually proportional method of interest calculation
EIR (annually)
3,55%
The total amount of interest payable by the Client
(interest is charged monthly)
(interest is charged monthly)
RSD 13,520.64
Fee for using Credit Bureau services
(basic report for entrepreneurial business and owner)
(basic report for entrepreneurial business and owner)
RSD 846.00*
Fee for the implementation of the Decision on loan approval - one-time fee in the amount of 0.5% prior to loan disbursement
RSD 2,500.00
12 bills of exchange (10 entrepreneurial business bills of exchange and 2 owner's bills of exchange) at RSD 50.00 each
RSD 600.00*
Certificate of tax obligations (for entrepreneurial business) - annually
RSD 640.00
* EIR calculated on 25 May 2021, the date of the public invitation announcement.
* Costs borne by the Loan User over which the Bank has no influence, and which are included in the calculation of the effective interest rate. These costs are indicative as of the date of EIR calculation and the Bank has no influence with respect to their amount.
REPRESENTATIVE EXAMPLE - INVESTMENT LOAN
Type of loan
Investment financing: long-term loan for the purchase and construction of office space
Loan currency
RSD
Loan amount
RSD 5,000,000.00
Repayment period
up to 60 months
Minimum security
- Bills of exchange of the borrower
- Personal bills of exchange issued by the owner
- State guarantee
- First-rank mortgage on registered immovable property. Immovable property insurance policy issued by an insurance company acceptable to the Bank and assigned to the Bank
Nominal interest rate (annually)
1 M BELIBOR+ 2 pip annually
proportional method of interest calculation
proportional method of interest calculation
EIR (annually)
3,17%
Total amount of interest payable by the Client
(interest is charged monthly)
(interest is charged monthly)
RSD 329,478.34
Fee for using Credit Bureau services
(basic report for entrepreneurial business and owner)
(basic report for entrepreneurial business and owner)
RSD 846.00*
Fee for the implementation of the Decision on loan approval - one-time fee in the amount of 0.5% prior to loan disbursement
RSD 25,000.00
12 bills of exchange (10 entrepreneurial business bills of exchange and 2 owner's bills of exchange) at RSD 50.00 each
RSD 600.00
Certificate of tax obligations (for entrepreneurial business) - annually
RSD 640.00*
Certification of pledge statement
RSD 10,080.00*
Immovable property insurance - annually
EUR 40,00*
Issuing of real estate folio in the land register
EUR 10,00*
Mortgage registration fee
RSD 21,540.00*
*EIR calculated on 25 May 2021, the date of the public invitation announcement.
*Costs borne by the Loan User over which the Bank has no influence, and which are included in the calculation of the effective interest rate. These costs are indicative as of the date of EIR calculation and the Bank has no influence with respect to their amount.
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