UniCredit Bank Hungary Zrt. provides a CIRR-based fixed interest rate loan in EUR refinanced by the Magyar Export-Import Bank Zrt.(hereinafter referred to as Eximbank) in frame of Export Pre-financing sub-program for pre-financing the direct export of goods and services to companies in order to promote their export operations.
Why is the Eximbank’s export pre-financing loan advantageous to your company?
Main parameters of the loan:
Purpose of the loan: long term working capital financing for export of goods, services
Loan type: non-revolving working capital loan
Loan amount: minimum EUR 40,000 and maximum EUR 6,500,000. The client’s aggregate by Eximbank refinanced loan amount (not including the individual refinanced loan/s) granted by our Bank and by other financial institutions must not exceed the amount of EUR 6,500,000 between 01 September2017 and 12 September2018
The loan amount must not exceed 85% of the for the first measuring period (e.g. 12 months from the disbursement of the loan) planned value of the financed export deal.
Term: at least 24, but at longest 60 months from the date of disbursement but not later than 12 September 2023
Interest rate: EUR CIRR + interest margin, depending on the annual net sales, the result of the credit rating of the Borrower. The interest is fixed for the whole term of the loan
Interest payment: every month or every 3 or 6 months, on the last day of the interest period, due on the same day of the principal repayment
Principal repayment: every month or every 3 or 6 months in equal installments. The first principal repayment is due in 1, 3 or 6 months following the disbursement date of the loan
Fees loan related fees are defined individually in accordance with Eximbank’s regulations
Collaterals: the usual banking collaterals depending on the result of the credit rating of the Borrower
Draw down: one-off, lump sum draw down
To whom do we recommend the Eximbank’s export pre-financing loan?
To a resident business organization that was established under Hungarian law and has a registered seat in the territory of Hungary to which the following qualifying reasons apply:
The loan may not be used for:
Certifying the execution of the export deal
The execution of the financed export deals has to be certified with the following documents:
This information is not fully comprehensive. Further information about the program is available on the website of the Eximbank: www.exim.hu
In case your company has a stable export clientele and want to make the best use of the advantageous CIRR based refinancing but the parameters of this loan do not suit your needs perfectly, we kindly ask you to contact the Trade Finance Department of our bank (email@example.com, +36 1 301 5131). Our colleagues will check your special demand and find the best solution to pre-finance your export deals.
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. Further information about our bank and products is available on our website www.unicreditbank.hu.
UniCredit Bank Hungary Zrt.
This information should not be considered an offer. The Bank reserves the right to change 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.
CIRR” the Commercial Interest Reference Rate to be applied to loans bearing a fixed interest rate with a term of 2-5 years as defined in accordance with the OECD (The Organisation for Economic Co-operation and Development) Agreement and published by the OECD Secretariat. CIRR interest rate is published: http://www.oecd.org/tad/xcred/rates.htm