Развојна банка на Северна Македонија АД Скопје

Objective of the loan:

Improvement and development of the production capabilities of micro, small and medium-sized enterprises which principal activity is production, processing of agricultural products, or export of agricultural products and their manufactured products. In that way, the micro, small and medium-sized enterprises shall improve their capacity for an appearance in the domestic and foreign markets, and investments, employment, and competition shall increase in the Republic of North Macedonia.

Purpose of the loan:

Financing fixed assets and working capital for:

crop production: agriculture, fruit growing, and viticulture.
livestock production: cattle breeding, sheep breeding, pig breeding, goat breeding, poultry farming, aquaculture, and beekeeping.
new agricultural drive and attachment machinery.

The funds shall be approved for the improvement and development of their production capacities, for entering the domestic and foreign markets, increasing investments, creating jobs, productive initial investment, and increasing competitiveness.

Sources of funds:

Compensation funds.

Eligible beneficiaries:

Micro, small and medium-sized enterprises (according to the Law on State Aid) that produce agricultural products (registered with the Ministry of Agriculture, Forestry, and Water Economy).

Terms and conditions of the loan

Loan amount:	Maximum amount: up to MKD 30,750,000
Repayment period:	For fixed assets: up to 120 months with a grace period of 24 months included. For working capital: up to 24 months with a grace period of 12 months included.
Currency:	Payment of the loan, calculation of interest, and payment of overdue liabilities shall be made in Denars.
Interest rate for the borrowers:	1% fixed annual interest rate
Final beneficiaries and criteria to be met:	Micro, small and medium-sized enterprises (pursuant to the Law on State Aid Control) which produce agricultural products (registered with the Ministry of Agriculture, Forestry, and Water Economy). Criteria to be met: Own participation at least 10% of the total investment (the same does not have to be in monetary units, that is, it can also be in assets); Current liquidity level of minimum 0.5; Level of debt servicing capacity of minimum 0.3; Positive financial results in the last fiscal year; To have settled all matured liabilities towards the state There are no unpaid obligations to the state (taxes, allowances, etc.) In accordance with the Credit Registry of NBRNM, classification better than or equal to "B". When checking the fulfillment of the criteria and the classification, the exposure and balance sheets of the related entities are not taken into account. The borrower and the related persons listed in the related person statement can only use one of the loans from the 3 products from "Credits for the agricultural sector-CF" up to the maximum amount of the loan. As an exception, borrowers may be: Newly established enterprises which founders are legal entities with positive financial results in the last fiscal year; Enterprises that in the last fiscal year had a negative financial result, insofar as they provide a bank guarantee for the approved loan.
Utilization of loan funds:	The funds from the approved loan are transferred at the user's request to their account and they are used only for the purpose for which they were approved within 90 days from the day of receiving the funds. For the intended use of the funds, the user submits invoices and bank statements to the bank within 8 days from the day of payment.
Refinancing:	Purchases made up to 180 days before the submission of the loan application by the loan applicant to the bank can also be subject to credit. As proof of the intended use of the funds, the loan applicant, along with the documentation, additionally submits the entire documentation for the purchases made (invoices, sales contracts, bank orders and statements, and other documentation).
Collateral provided by borrowers:	As security for the loan agreement in the amount of up to MKD 6,100,000, the borrower must submit: a first-mortgage lien on real estate at least in ratio 1:1.00 in regard to the approved loan amount and the calculated interest, and a bill endorsed by the owner/all owners of the borrower with a bill of exchange statement for regulating the rights and obligations under the bill in form of the notarial deed with enforceable clause, or bank guarantee in the amount of the approved loan As security for the loan agreement for an amount over MKD 6,100,000, the borrower must submit: a first mortgage lien on real estate at least in ratio 1:1.20 in regard to the approved loan amount and the calculated interest, and a bill endorsed by the owner/all owners of the borrower with a bill of exchange statement for regulating the rights and obligations under the bill in form of the notarial deed with enforceable clause, or bank guarantee in the amount of the approved loan. The evaluation of the mortgaged property is performed only when the security is established by an authorized appraiser in accordance with the positive legal regulation.

Required documents:

All documentation for the loan is submitted to DBNM (at the bank's premises, electronically or by registered mail):

1. Loan request (DBNM form);
2. Client identification form (DBNM form);
3a. Current Financial Status (not older than 3 months, from CRRNM);
3b. Current balance for beneficial owner (not older than 6 months, from CRRNM)
4. Proof of not having mature unsettled liabilities to the state (Confirmation by PRO);
5. Decision for registration in the respective registers of purchasers of agricultural products at the MAFWE;
6. Business plan or investment program;
7. CS form (form for signatories on behalf of the company, copy) and List of specimen signatures (copy);
8. Documents for the offered collateral (if the collateral is a mortgage – a copy of the certificate of title, if the collateral is a bank guarantee – a commercial bank that will issue the guarantee);
9. Balance Sheet and Income Statement for at least the last fiscal year (copy);
10. Auditor’s report (refers to companies that have obligation to have an auditor’s report);
11. Book of shareholders and Book of stakes;
12. Statement on related persons/entities (DBNM form);
13. Documentation for the planned procurements with the loan ;
14. Statement of public office holder (DBNM form).