ProCredit Bank finances based on A.P.I.A. subsidies
Bucharest, September 7th, 2011
Starting with September 2011, ProCredit Bank brings a new product to support the agricultural sector in Romania. Thus, based on the agreement with the Agency for Payments and Intervention in Agriculture, the bank provides financing to beneficiaries of grants offered by A.P.I.A. in the single payment scheme (SAPS).
The credit line has maximum maturity until June 30th, 2012, the deadline for farmers to receive last subsidies from A.P.I.A. – SAPS. Maximum value that can be granted by the bank is 80% of the subsidy that is to be received from A.P.I.A. under the single payment scheme.
ProCredit Bank accepts flexible guarantees for financing (transfer of debt to amounts received from APIA or personal guarantee contract, depending on the amount paid). In addition, applicants can benefit from the guarantee offered by the Rural Credit Guarantee Fund, which may cover up to 80% of the credit line.
Both current and new customers of the bank can benefit of this product.