Modular loans (business overdraft)

Modular loans (business overdraft)

Modular loans (business overdraft)

OVERDRAFT FOR BUSINESS FROM INFINBANK 

In InfinBANK, business representatives find for themselves a full range of services for settlement and cash services. One of these products is a business overdraft from InfinBANK. 

A loan product for representatives of small and medium-sized businesses plays the role of a “spare wheel”, having issued which, the client receives money at the right time if there is not enough own funds in the account. Overdraft - a loan can be spent in different ways:

 - Purchase equipment or pay for goods. For example, a supplier only sells large quantities of raw materials for which you do not have enough funds right now. 

- Pay rent, pay utility bills.  Often the rent must be paid for several months in advance, and you don’t want to touch the funds from the turnover.

- Repay salary arrears and pay travel allowances. An overdraft helps out if a “cash gap” occurs. 

- Pay taxes. Budget payments need to be paid off often, but there may not be free money. 

To apply for a loan at InfinBANK, the borrower needs a minimum package of documents: an application for a loan in the form of a bank and a decision of the founders to receive a loan. Funds are issued in national and foreign currencies for a period of 90 days at 23% and 10% per annum. Since it is easier for banks to issue loans to companies that the bank already knows, one of the requirements for the borrower is to have an active deposit account with InfinBANK. What does active mean? The entrepreneur must have a stable turnover on the account for the last six months, and after calculating the scoring, you can get a loan in the amount of no more than 300.0 million soums. And all this without collateral and guarantee. 

Loan product name Modular Loan
(Contracting credit: business overdraft)
Purpose of the loan Replenishment of working capital. 
Loan amount up to 300,000,000.0 soums (if the loan is granted in foreign currency, then in the amount equivalent to 300.0 million soums).
Loan term 90 calendar days
Interest rate in national currency: the main rate of the Central Bank + 8.99% per annum 
in foreign currency: minimum 5.99% - maximum 14% per annum 
Provision  Loan portfolio insurance policy
Required Documents  • An application for a loan indicating the amount, term, percentage rate of the Borrower's consent to receive and transfer personal information to the National Institute of Credit Information and Credit Bureau Credit Information Analytical Center LLC;
• The decision of the founders to obtain a loan.
Requirement to the client • Availability of the main deposit account on demand in any branch of JSCB "InfinBANK",
• Presence of stable credit turnover for at least 6 months.
• Having a positive credit history. No arrears on loans.
Additional conditions • Credits for replenishment of working capital in foreign currency (for short-term financing of the production cycle, making payments to suppliers for purchased inventory items and services, by paying from a loan account under import contracts).
• The borrower has the right to repay the amount of the loan received ahead of schedule and pay the interest accrued on it for the period of their actual use. 

Loan product name Modular Loan
(in cash)
Purpose of the loan Replenishment of working capital in cash
Loan amount up to 300,000,000.0 soums
Loan term up to 18 months
Grace period up to 6 months
Interest rate the main rate of the Central Bank + 12.99% per annum 
Security  Real estate, vehicles, equipment, cash.
Required Documents  • An application for a loan indicating the amount, term, percentage rate of the Borrower's consent to receive and transfer personal information to the National Institute of Credit Information and Credit Bureau Credit Information Analytical Center LLC;
• Documents on the State Registration of the Client.
• The decision of the founders to obtain a loan.
• Documents on the financial position of the Client.
• Loan security documents.
Requirement to the client • Having a positive credit history. No arrears on loans.
• Availability of turnovers on the Client's account for the last 6 months (in any bank of the Republic of Uzbekistan).
Additional conditions • The borrower has the right to repay the amount of the loan received ahead of schedule and pay the interest accrued on it for the period of their actual use. 

Interested entrepreneurs can learn all the details about the terms of lending from their client manager, as well as by contacting a dedicated line in the contact center for legal entities, existing and potential clients of the bank. Business support is available at: (71) 202-50-80. 

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