Segments within small and medium enterprises and entrepreneurs
Our credit products intended for legal entities and entrepreneurs with official business annual revenues that do not exceed EUR 2,000,000 can be classified into two segments, namely:
- Micro segment (small enterprises and entrepreneurs) offer which belongs to enterprises and entrepreneurs with official annual business revenue which does not exceed EUR 500,000 indexed in RSD.
- Small segment (medium enterprises and entrepreneurs) offer which belongs to enterprises and entrepreneurs with official annual business revenue which exceeds EUR 500,000 but does not exceed EUR 2,000,000 indexed in RSD.
Criteria for granting of credits, guarantees and other services of the Bank
Crédit Agricole Srbija finances working capital and fixed assets intended for small and medium enterprises and entrepreneurs that are registered in Serbia.
Credit beneficiaries must have all required permits, approvals, authorizations and other documentation which is necessary for conducting of registered economic activity.
Preconditions for receiving of Credits, Guarantees and Avals for small and medium enterprises and entrepreneurs:
- Clients must be registered in Serbia,
- At least one annual financial statement, and for flat-fee tax payers account in bank active for at least 6 months is required,
Interest rate is calculated on remaining debt. Only simple method (30/360) is used for calculation of interest. Level of interest rates is defined by credit products catalogue.
- minimum 2 employees, and for newly formed companies 1 employee.
Credits can be disbursed in RSD, RSD with currency clause in EUR, or in EUR. Credits can be disbursed in EUR only for purposes defined by Law on Foreign Currency Operations.
Administrative fee is calculated in approved amount of credit and charged when credit is realized by automatic charging from amount of approved credit upon its realization.
Credit maintenance fee is calculated on approved amount or on the remaining debt depending on the type of credit product. Period for which calculation as well as collection of this fee is performed also depends on type of credit.
Fee for early repayment is applied on remainder of debt in case the client repays credit before the agreed due date.
Middle exchange rate of the NBS on date of transaction will be applied for disbursement of credit and collection of fees.
Selling exchange rate of Crédit Agricole Srbija on date of transaction will be used for repayment of credit and interests.
Credit terms are set primarily according to purpose for which credits are used. Accuracy and regularity in repayment of credit can be expected only if credit tenor, grace period and repayment plan are harmonized with purpose for which the credit is granted.
Repayment plan is integral part of Credit Agreement. Credit Committee establishes repayment plan. Credits are, mostly, repaid in annuities which consist of appropriate portion of principal and of interest. By rule, credits will be repaid in periods which can be monthly or quarterly.
Grace period in duration of up to 12 months can be approved if nature of client’s business, as well as purpose of credit, requires grace period as rational solution. During grace period client pays interest on monthly level which corresponds to level of regular interest.
Type of required security will be determined based on analysis of the client.
Types of security, credits for small and medium enterprises and entrepreneurs
- Pledge on fixed assets (machines, equipment, vehicles) or other movable property which is not related to business activity of client. Estimate of the object of pledge is performed before credit is disbursed.
- Guarantee – guarantor under credit can only be legal entity, entrepreneur or private individual. Guarantor has to sign Contract on Solidary Guarantee as well as bill of exchange. If guarantor is enterprise or entrepreneur Authorization to charge account will be requested from its business bank.
- Mortgage. Valuation of the object of mortgage is performed before the credit funds are disbursed.
- Registration of mortgage will based on Mortgage Statement in accordance with article 15 of the Law on Mortgage, validated before court and on Request to inscribe mortgage based on Mortgage Statement which is validated by receiving stamp of appropriate real estate register.
Bills of exchange and authorizations to charge the account will be requested from client –submitter of credit application in any case and for every type of credit. Number of bills of exchange as well as number of Authorizations depends on credit tenor.
- Security interest over the object of purchase (in this case down payment of 20% is required)