Applying for the extraordinary investment loan
1 
The undertaking reads the terms of service and verifies compliance with these
2 
The undertaking submits an application to KredEx through eKredEx, along with all of the required documents
3 
KredEx contacts the undertaking and provides feedback on the application
4 
If the application is correct, the application will be accepted for processing
- In the event of any additional questions, the manager will contact the undertaking again
5 
KredEx will make a decision and grant the loan
The main terms and conditions
- The applicant and the group of undertakings related to it was not an undertaking in difficulty as of 31.12.2019
- The loan amount is up to 10 million euros with a loan period of 24 to 72 months (including a grace period of up to 12 months)
- The loan interest is the 12-month Euribor + 2% per year and the contract fee is 0.5% with a minimum of 150 euros
- The loan must have a security whose expected result of realisation is at least 50% of the loan amount (the security includes the assets acquired with the loan)
- The proportion of the equity of the undertaking compared to the balance sheet total is at least 25%. The estimated ratio between interest-bearing liabilities and EBITDA for the approved annual report for the financial year ended in 2018 or 2019 is lower than 10 based on EBITDA along with the loan being applied for
- The undertaking commenced business activities in 2019 at the latest and earned sales revenue on the basis of the approved annual report for the financial year ending in 2019
- The applicant and the undertakings of the group of undertakings related to it have submitted all the required tax returns and annual reports
- The applicant has not, as of 12.03.2020, paid any dividends or made other disbursements to the owners, thereby reducing the equity, or the owner who received the respective disbursement shall return it to the undertaking by the time of entering into the loan agreement at the latest in the original amount of the disbursement
- Refinancing any existing loans is not permitted
Application
The direct loan is intended for undertakings who have not received a loan from the bank
