Credit to leasing companies for current activities
Understanding the need for additional financing of your company’s activities in replenishing working capital, IBOX BANK offers the opportunity to set a credit limit for:
- refinancing of debt under current leasing contracts;
- refinancing of debt under credit agreements with other banks/financial institutions;
- for the purchase of leased items for the further execution of leasing contracts.
Advantages of the offer from IBOX BANK:
- additional funds for business development;
- a flexible approach to provision;
- obtaining a loan in the form of a revolving credit line;
- there ae no hidden commissions.
Basic parameters/conditions of lending
Client category: legal entities – leasing companies
Type of credit operation/form of lending
- revolving credit line
Amount: from UAH 100,000.00. (if the loan is in foreign currency – equivalent to the amount of UAH 100,000.00)
At the same time:
- the maximum limit – in accordance with the legal restrictions of the National Bank of Ukraine, the Declaration of susceptibility to risks of JSC IBOX BANK and the current limits established by the Bank’s Management Board.
Lending currency:
- Hryvnia (UAH)
- US dollar (USD)
- Euro (EUR)
Term: up to 5 years
At the same time:
- Credit review is carried out no later than one year from the date of loan issuance and thereafter – no less than once a year, as stipulated in the Credit Agreement.
- The crediting period for individual tranches is up to 3 years.
Rate: fixed
- Hryvnia (UAH) – from 22% of the annual
- US dollar (USD) – from 8% of the annual
- Euro (EUR) – from 7% of the annual.
It is established by the decision of the collegial body.
Commission: one-time (for drawing up a Credit Agreement) – from 1% of the lending limit, but not lower than the minimum amount of the commission established by the Bank’s Tariff Committee.
In the case of changes to the crediting conditions (increasing the limit/term/etc.), an additional commission established by the Bank’s Tariff Committee is charged.
The size of the commission is established by the decision of the collegial body.
Purpose of lending: financing of current activities, including:
- refinancing of debt under current leasing contracts;
- refinancing of debt under credit agreements with other banks/financial institutions;
- for the purchase of leased items for the further execution of leasing contracts.
Conditions of issuance: The tranche of the credit line/loan is provided by means of a cashless transfer of credit funds to the borrower’s current account opened at the Bank with subsequent transfer of credit funds to the current account of the Client’s counterparty (if necessary). The tranche of the credit line is provided based on the borrower’s written application to receive funds within the established limit of the credit line.
Ensuring: liquid movable property that is/will be the subject of leasing:
Basic ensuring:
- vehicles;
- equipment;
- agricultural machinery and equipment;
- special machinery and equipment.
Additional ensuring:
- property rights to the funds that will be transferred to the Debtor’s account in order to fulfill the obligations of the lessees under leasing contracts, and meets the Bank’s requirements for this type of ensuring.
The coverage ratio is at least 1.5.
The property offered as a pledge must be appraised (its fair market value is determined) on the basis of a report by an appraiser agreed by the Bank to cooperate with the purpose of appraising the pledged property or by a property appraiser – an employee of the Bank who has a qualification certificate of an appraiser, who are not persons connected with the Bank (affiliated, related, associated), in accordance with the legislation of Ukraine (excluding value added tax).
Collateral insurance in favor of the Bank is mandatory.
Insurance is carried out in an insurance company accredited by the Bank, which is verified by the Bank and meets the Bank’s requirements.
Registration of surety: in accordance with the decision of the Credit Committee/Bank Board.
Conditions and source of repayment: working capital of the borrower.
It is possible to repay the loan debt by contractual debiting from the borrower’s current account opened at the Bank, or by the borrower himself by means of a non-cash transfer to the account specified in the loan agreement.
The credit line limit reduction schedule is set depending on the borrower’s business cycle.
Early debt repayment is possible without fees and fines.
The terms of repayment of credit debt are determined by the decision of the Credit Committee of the Bank.
Payment of interest: monthly in full from the 1st to the 7th (inclusive) of the current month following the one for which they are accrued, and in the month in which the credit line expires, on the last day of the credit line validity.
