“IT sphere” overdraft

IBOX BANK, understanding the need for additional financing for an individual entrepreneur to replenish working capital, offers to set a short-term credit limit in the form of an overdraft on your current account in excess of the actual balance.

If the client has several current accounts at the Bank, the overdraft limit is set only for one current account.

Advantages of the offer from IBOX BANK:

  • a flexible approach to providing;
  • additional funds for business development;
  • time saving – documents are drawn up only once; 
  • an individual approach in work with each borrower – the possibility of agreeing on the main parameters of the credit transaction, which differ from the standard program;
  • money saving – the loan is repaid immediately when the money is credited to your current account automatically;
  • there are no hidden commissions.

Basic parameters/conditions of lending in the form of an overdraft

The client category is individuals – entrepreneurs, whose main activity (according to the NACE) corresponds to the IT industry. 

Amount: from UAH 50,000.00.
At the same time:

  • the maximum overdraft limit is set depending on the amount of net credit turnover on the client’s current account and the presence or absence of acceptable providing;
  • the overdraft limit is subject to mandatory recalculation after one full calendar quarter of overdraft lending. In the future, the overdraft limit is reviewed quarterly or at other intervals determined by the Overdraft Agreement.

Term: up to 12 months
The maximum term of continuous overdraft use:

  • for secured (including secured by surety) – corresponds to the maximum term of validity of the Overdraft Agreement;
  • for blanks – 30 calendar days (the first day is the day of the debit balance).

Rate: fixed – from 23% 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 Maximum overdraft limit, but not lower than the minimum commission fee established by the Bank’s Tariff Committee.
The size of the commission is established by the decision of the collegial body.

The purpose of lending: to replenish working capital, including for any purposes that do not contradict the current legislation of Ukraine

Issuance conditions: by paying the client’s settlement documents for an amount that exceeds the actual balance on this account, within the set maximum overdraft amount.
At the same time, a debit balance is formed on the current account, which reflects the available (current) amount of the borrower’s debt to the Bank.

Providing: financial guarantee of a legal and/or an individual – residents of Ukraine.
It is important that the presence/absence of a surety directly affects the calculation of the amount of the maximum overdraft limit.

Repayment of overdraft: due to receipts on the Client’s current account.

Payment of interest: monthly, by the 7th day (inclusive) of the month following the reporting month, unless otherwise is determined by a decision of the relevant collegial body of the Bank, and on the last day of validity of the Overdraft Agreement.