Credit for replenishment of working capital

IBOX BANK, understanding the need for additional financing of your company’s activity in replenishing working capital, offers you to take advantage of the opportunity to establish a credit limit for the purchase of working assets in the event of a gap between the time of receipt of funds and the realization of expenses.

Advantages of the offer from IBOX BANK:

  • additional funds for business development;
  • a flexible approach to providing;
  • obtaining a loan in the form of a revolving/non-revolving credit line or a term loan;
  • an individual approach working with each borrower – the possibility of agreeing on the main parameters of the credit transaction, which differ from the standard program;
  • the possibility of agreeing the main parameters of the credit operation, which differ from the standard program;
  • there are no hidden commissions.

Basic parameters/conditions of lending

The client category is legal entities and individuals – entrepreneurs.

Type of credit operation/form of lending

  • Credit line (revolving/non-revolving)
  • Term loan

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: From 1 year 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 term of lending for individual tranches is up to 1 year.

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.

The purpose of lending: to replenish working capital, including:

  • purchase of goods and material values, payment for works, services;
  • production goals;
  • payment of other payments made at the expense of working capital.

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 it is 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 and/or immovable property (vehicles, equipment, goods in circulation) and/or property rights to money placed on a deposit (deposit) account in the Bank and/or property rights to goods, stocks and other property, which meets the Bank’s requirements for this type of security.
The property offered as a pledge/mortgage (except for the pledge of property rights for a cash deposit) must be appraised (its fair market value is determined) based on the report of the appraiser agreed by the Bank for cooperation in 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 related to 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 at an insurance company approved by the Bank, which has been verified by the Bank and meets the Bank’s requirements

Registration of surety: in accordance with the decision of the Credit Committee/Bank Board.

Terms 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.