Credit line

A credit line is a type of short-term/long-term loan, according to the terms of which a bank grants a borrower a loan within agreed maximum amount (credit limit), which a borrower can use in full or in parts (tranches) at any time during the term of a loan agreement. At the same time, the credit limit within the term of an agreement may change (increase or decrease) depending on the terms of a loan agreement (repayment of selected amounts, term of agreement etc.).

Legal entities and individual private entrepreneurs whose business activities last no less than 2 years and whose financial status is acceptable.

• Constituent and registration documents (if not previously provided).
• Information about the legal structure of the debtor/group with an indication of ownership shares (the data is filled in “Privat24 for Business” in the “Documents for the corporate customers” menu).
• Financial statements (for a legal entity: balance sheet, Form 2 for the reporting period and the last year; for an entrepreneur: Income Declaration for the reporting period or for a shorter period if the company/Private Entrepreneurs exists for a shorter period).
• on financial results and their use according to the Labor Code (ed. 2000) or a report on the main performance indicators of the enterprise (Form No. 1- Entrepreneurship) for the last reporting year with a receipt for sending or a mark of the statistical management body on the acceptance of the report (the data is filled in “Privat24 for Business” in the “Documents for the corporate customers” menu).
• Application for a loan.
• Proceedings (decisions) of the general meeting of shareholders (participants, supervisory board, management board) of the enterprise (or other body authorized to make a corresponding decision), where such issues should be considered:
  1. the necessity to get a loan from PrivatBank (in a certain amount, within the agreed period, indicating the purpose of obtaining the loan);
  2. granting the right to sign the loan agreement to the manager in accordance with the Charter and a card with sample signatures;
  3. providing collateral and granting the right to sign the pledge agreement to an authorized person, and if the pledgor is another person, it is indicated who exactly is the pledgor;
  4. the name and identification data of the guarantor must be specified in the protocol.
• Legal Documents for the mortgagor/guarantor (if a mortgagor is the third party, the documents are the same as for the borrower).
• The documents for the participation in the “Affordable Loans at 5-7-9” program.
• The documents for the pledge. On any pledged item the customer shall report to the Bank on the impartial evaluation of this pledged item made by the appraiser, accredited by the Bank.

Yes, it does. A revolving credit line is granted the borrower’s right to receive from the state a compensation for the interests under the “Affordable Loans at 5-7-9%” program , and to have guaranties provided by the state as a collateral under the loan obligations.

The limit is set individually, after all the required documents are submitted to the Bank and when the financial status of a company is evaluated.

Thus, the loan agreement provides for penalties.

A variable interest rate is an interest rate that may increase or decrease depending on the change in the UIRD index in the relevant interest rate period.