Up to 95% of the subsidies expected
Up to three 12-month periods
Up to 95% of the subsidies expected under the Single Area Payment Scheme (SAPS), National Supplement Payments Scheme (NSPS), Redistributive Payment Scheme (RPS) and Payment Schemes for Environmentally- and Climate-Friendly Agricultural Practices – Green Direct Payments (GDP), after receipt of a certificate issued by the State Fund Agriculture, calculated on the basis of the area declared in the overall application for support – URN and UIN campaign, as certified by the State Fund Agriculture.
Up to 90% of the subsidies expected under the SAPS, NSPS, RPS and GDP after the overall application for support – URN and UIN campaign is submitted to the Bank, calculated on the basis of the area declared in the overall application for support.
- Up to three 12-month periods
The option will be inserted in the bank loan contract and provided subject to the following conditions:
- No late loan payments and repayment in full of the previous loan tranche.
- The borrower’s financial position is acceptable to the Bank.
- Financial statements do not have to be submitted for loans of up to BGN 200,000 in total balance sheet exposure of a group of affiliates provided there have been no defaults on other loan exposures, including in other banks.
- 5.5% annual fixed rate
- First-ranking special pledge on claims to subsidies for support under the SAPS and NSPS serviced by the State Fund Agriculture (Paying Agency). The pledge must be worth 105% of the agreed loan amount.
- Pledge of money received into accounts with the Bank
Charges and Commissions
- No document review and processing charge.
- No commitment fee.
- No collateral registration charge.
- No early prepayment fee.
- Management commission – 1% for a single payment or, where the loan is agreed as revolving in tranches, 1% for each tranche.
- All external costs of providing the collateral are at the borrower’s expense.
- The Bank’s Tariff applies to any changes made to other loan parameters at the borrower’s request.
- Certificate from the State Fund Agriculture (Paying Agency) (prepared in standard form and enclosed with the package of documents for the product) of the submission of an application for support under the SAPS and NSPS, showing the expected subsidy amount, the declared area of arable land and the account to which the subsidy is to be paid, or a common application for the current year for single area payments with URN and UIN for support under the SAPS (Single Payment Scheme) and NSPS (National Supplement Payments Scheme) with a reference number from State Fund Agriculture (Paying Agency) and the subsidy received into the current account for the previous year per unit of area.
- The loan applicant must be a registered individual or corporate farmer.
- The loan applicant must have a special current account opened at their Tokuda Bank branch, where the subsidy from the State Fund Agriculture (Paying Agency) should be received.