Short-term Credit

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Borrower

  • Legal entities bearing unlimited civil liability;
  • Legal entities bearing limited civil liability.

Purpose

  • For investments;
  • For investments and working capital.

Repayment source

  • The positive cash flow of the regular business;
  • Receivables;
  • Subsidies and support funds received;
  • Income from Government securities.

Amount

  • No minimum amount requirement;
  • The limit depends on the financial capacity of the customer to repay the credit, value of the credit security and the credit risk.

Currency

  • LTL, EUR, USD.

Interest rate

  • Fixed or variable;
  • The variable annual interest rate shall be calculated with the accuracy of two figures after the decimal point;
  • In case of the variable interest rate the Bank shall give the customer a written notice about any change of the interest rate base.

Interest calculation and payment

  • Interest shall be charged for the outstanding credit amount in the procedure established in the Bank;
  • Interest shall be paid on a monthly basis.

Arrangement of the documents and execution of the agreement fee

  • A onetime fee charged for arrangement of the documents and execution of the credit agreement; it shall be paid after conclusion of the agreement before disbursement of the first credit tranche.

Credit maturity

  • Up to 1 year.

Disbursement

  • For a credit to be granted, the Borrower shall submit the Bank an application and all other documents proving utilization of the credit for the stipulated purpose and complying with the way of granting the credit;
  • Disbursement period may be agreed as follows:
    • Types of credit disbursement:
      • Payment against payment documents furnished by the Borrower;
      • Transfer to the Bank account of the Borrower.

Credit repayment

  • In a lump sum specified in the credit agreement;
  • In installments specified in the credit agreement or repayment schedule;
  • The Borrower shall repay the credit in the currency it has been granted.

Security of repayment

  • Main collateral:
    • Deposits placed with the Bank in the same currency as the credit granted;
    • Securities of the Republic of Lithuania issued in the same currency as the credit granted; the aforesaid securities shall be accounted for by the Investment Banking Department in the procedure established in the Bank;
    • Apartments, dwelling houses and other real estate with outside facilities and land plots there under, the land for agricultural purposes;
    • Movable property (equipment, installation, agricultural machinery, cars, raw material, inventory, production, goods in stock, etc.);
    • UAB “ Investicijų ir verslo garantijos”, UAB “Žemės ūkio paskolų garantijų fondas” guarantee (only loan part, which guarantee);
  • Additional collateral:
    • An indemnity issued by a natural person or a company, institution or organization;
    • A guarantee (a guarantee shall be in the form of the guarantee agreement executed in the procedure set by the laws and established in the Bank):
      • Issued by a bank;
      • Issued by a company, institution or organization;
    • Funds in the Customer account.