Such loans are issued to agroecotourism businesses engaged in agroecotourism industry as determined by the Decree of the President of the Republic of Belarus dated 02.06.2006 No.372 “On Measures of Agroecotourism Development in the Republic of Belarus”.
Loan application of an agroecotourism entity is reviewed by the Bank following the approval by the district executive committee.
The documents required for the loan application review:
- An application for a loan (sample form);
- Incorporation documents of a farm household;
- Balance sheets with a breakdown by items (annual and as of the latest quarterly reporting date) or control balances with a breakdown of balance in sections and subsections of the Ledger of property and activity of the farm household (and as of the latest quarterly reporting date);
- Profit&loss statement for the specified periods;
- Consent to disclose to the Bank the information included into the borrower’s (guarantor’s) credit history stored in the Credit Bureau system of the National Bank of the Republic of Belarus;
- A copy of a set of documents for the working group, certified by the secretary of the working group (provided by the secretary of the working group);
- A copy of the Opinion of the working group, certified by the secretary of the working group (provided by the secretary of the working group);
- A copy of the decision (extract from the decision) of the district executive committee on rendering assistance to the agroecotourism entity (provided by the district executive committee);
- other documents (if required).
You can get the necessary expert advice at any regional and (or) district branch office of Belagroprombank.
Loan currency: Belarusian rubles.
Interest rate: 5% p.a.
Loan period: depending on the Project’s pay-off period, up to 5 years.
Loan disbursement: the loan is disbursed as one lump sum or in parts within the maximum amount (limit) of the total loan amount provided when the credit line is opened.
Loan is provided in a non-cash form.
Loan amount: is calculated based on the borrower’s solvency, turnover on the borrower’s current (settlement) account in accordance with the proposed Project up to 90% of the Project cost, no more than 2000 base values determined by the legislation on the loan application date (hereinafter – base values), provided that total amount of the loans previously granted to the borrower by the Bank and the loan requested does not exceed 7500 base values.
Loan repayment and interest payment:
- a loan shall be repaid monthly in equal parts or as per the schedule (subject to the seasonality of services provided) in accordance with reasoned sources of loan repayment within the Project implementation, including from entrepreneurial activity and agroecotourism business;
- agroecotourism businesses are given a grace period of up to 12 months;
- loan interest is paid on a monthly basis.
Guarantee of fulfillment of obligations – penalty.
Borrower eligibility criteria.
Agroecotourism businesses are not eligible for such loan if:
- they do not have a current (settlement) account in Belarusian rubles with JSC Belagroprombank;
- they have been carrying out business activity for less than one year;
- they have a negative credit history;
- they have bad debts on previous loans;
- they do not get any proceeds from a sale of goods (the provision of services);
- their current(settlement) account is credited less than once a month;
- they have outstanding documents in the card file to the off-balance sheet account 99814 “Outstanding payment documents” of the first and second priority group for more than 30 days in the last 12 months preceding the month of the loan application.
Loan requirements for borrowers (agroecotourism businesses):
- Stable financial position;
- Positive business reputation.
Additional fees: no fees charged.
