Working capital loan

 

UniCredit Bank offers term loan or revolving credit facility both in HUF and FX for financing your company’s need for funds up to and over one year. In the framework of a revolving credit facility the Bank disburses loans for your company with a term of minimum 1 month.

 

Why is working capital loan advantageous for your company?

  • It can be applied for  as a term loan or as a revolving credit facility up to or over one year.
  • Revolving credit facility provides a flexible financing availability.
  • By means of the credit you can expand your production, stock and in case of unforeseeable expenditures you do not have to rearrange your assets.
  • It provides a facility for financing VAT related to investments.

To whom do we recommend working capital loan?

To companies registered in Hungary that

  • currently are not and in the last 2 years were not under bankruptcy or liquidation process or under final settlement, and there is no execution proceeding in progress against them;
  • verifiably have no overdue or rescheduled public debts;
  • have no overdue or defaulted credit debts according to the Central Credit Information System (KHR);
  • did not have in the last 2 years or do not have classified loan within UniCredit Bank.

We only offer working capital loan for VAT financing to companies that have an auditor.

Main parameters of the revolving working capital credit facility

  • Amount of the credit facility: defined according to the Client’s credit rating but minimum
    HUF 1,000,000 or an amount equivalent to it in EUR
  • Amount of a drawdown: defined according to the Client’s credit rating but minimum
    HUF 1,000,000 or an amount equivalent to it in EUR
  • Number of drawdowns: by arrangement
  • Currency: HUF and EUR
  • Term of the credit facility: by arrangement (up to or over one year)
  • Term of each loans: could be 1 month or its integer multiples considering the maturity of the credit facility
  • Repayment: upon maturity of the loan in one lump sum, the amount of the repaid loan may be reutilised within the maturity of the credit facility
  • Availability period: until the maturity of the credit line
  • Interest: 1 or 3 month BUBOR/EURIBOR + interest margin in line with the result of the credit rating and the Client’s creditworthiness
  • Interest payment: monthly or quarterly in accordance with the interest period
  • Availability fee: by arrangement, in line with the result of the credit rating1
  • Other fees: by arrangement, in line with the result of the credit rating1

Main parameters of the working capital term loan

  • Amount of the loan: defined according to the Client’s credit rating in advance but minimum
    HUF 1,000,000 or an amount equivalent to it in EUR
  • Currency: HUF and EUR
  • Term of the loan: by arrangement (up to or over one year)
  • Disbursement of the loan: in one lump sum
  • Repayment of the loan: upon maturity in one lump sum
  • Interest: 1 or 3 month BUBOR/EURIBOR + interest margin in line with the result of the credit rating and the Client’s creditworthiness
  • Interest payment: monthly or quarterly in accordance with the interest period
  • Availability fee: by arrangement, in line with the result of the credit rating1
  • Other fees: by arrangement, in line with the result of the credit rating1

Special parameters of the working capital loan for VAT financing

  • It can be solely applied for related to investment loan as a credit facility up to one year.
  • The borrower has to provide the number of the blocked security sub-account connected to the credit in the VAT return as the number of his bank account.
  • The borrower has to place at the Bank’s disposal:
    • the printed copy of the electronic VAT return duly signed by the borrower and the auditor of the borrower;
    • one printed copy of the so-called e-bev receipt, which validates the recepeipt of the VAT return by NAV (Hungarian Tax Authority);
    • electronic, validated NAV certificate with extended content about not having public debt dated not more than 8 days earlier.
  • The term of each loan: maximum 45 or 75 days (+2 days grace period) after the deadline of the VAT return depending on the expected date of the transfer.
  • Repayment: upon the maturity of each loan in one lump sum from the received VAT refund. The amount of the repaid loan may be reutilised within the maturity of the credit facility.

Other conditions

  • Any collateral may be acceptable but the assignment of VAT demand in itself is not sufficient collateral to the Bank.
    The joint and several suretyship of Garantiqa Hitelgarancia Zrt. and Rural Credit Guarantee Foundation can be applied.

Apply

 

If you have any questions, please feel free to ask your contact person at the bank, or our colleagues at one of our many bank branches.

 

1 For Small Business Customers according to the current „List of Credit Fee Conditions for Small Business Customers”. Small Business Customers are defined in the current „List of Conditions for Small Business Customers”.

This information should not be considered an offer. The Bank reserves the right to change the conditions. UniCredit Bank reserves the right to decide individually on loan disbursement and on the amount and conditions thereof, based on the loan application and documents submitted.