Business loan is a source of funding for a small business that usually receives its proceeds seasonally. Seasonal loans are designed for further development of already existing businesses as well as for financing a startup.
Loan Purpose:
Repairs
Purchasing fixed assets
Purchasing real estate
Interest rate:
from 16%
Interest rate depends on such factors as loan maturity, collateral for a loan, income and etc.
Loan Maturity:
Fixed assets up to 36 months
Repairs up to 60 months
Real Estate (commercial) up to 120 months
Loan Currency:
GEL
USD
Loan Volume:
Minimum – USD 3000 or its equivalent in GEL
Maximum - USD 200 000 or its equivalent in GEL
Collateral for a loan:
Real Estate
Loan repayment conditions:
Loan repayment terms and conditions are adjusted to seasonal work to the maximum rate possible , you are entitled to have a nine month grace period per year. During a grace period you will pay accrued interest only, whereas you have to repay principal along with the accrued interest upon it during minimum three month period of time chosen by you.
Documents required for a seasonal loan:
Loan Application – in both cases: for further development of already existing businesses as well as for financing a startup.
To get approved for a seasonal loan, upon request you have to present documents to prove your income
