Borrowers can be entrepreneurs, micro, small and medium enterprises, as well a farms registered at the BRA.
Maximum loan amount: up to 25% of the income in 2019, maximum EUR 3 million, in the banking sector.
Loan is approved with 36 months maturity, including obligatory grace period of minimum 9 to maximum 12 months.
Borrowers must fulfil the following terms and conditions defined by the Ordinance on Determining the Guarantee Scheme as an Economic Support Measure for Mitigating the Consequences of the COVID-19 Pandemic caused by the SARS-CoV-2 virus (RS Official Gazette, no. 57/20):
- it is an entity with head office in the Republic of Serbia, including farm, registered at the Business Registers Agency of the Republic of Serbia or classified as an entrepreneur, or micro, small and medium enterprise in accordance with the law governing accounting, in accordance with financial statements provided to the Business Registers Agency of the Republic of Serbia for statistical purposes for 2019;
- it is an entity that has been approved a new loan or renewed the current loan, for which the Republic of Serbia can guarantee based on the Ordinance, in accordance with the bank’s credit policy;
- it has no outstanding obligations according to the National Bank of Serbia regulations as at February 29, 2020;
- it is not a unit of local self-government, or a legal entity in which the Republic of Serbia, autonomous province or a unit of local self-government has more than 50% share;
- it was not in default in the period of 12 months before February 29, 2020 or in the period of 12 months before February 29, 2020 the Bank did not impose any restructuring measures towards it, in accordance with the decision of the default status by the National Bank of Serbia regulations, and/or restructured receivables according to the National Bank of Serbia regulations governing classification of balance sheet assets and off-balance sheet items;
- it is not an enterprises undergoing consensual financial restructuring pursuant to the Law on Consensual Financial Restructuring (RS Official Gazette, no. 89/15), the procedure pursuant to the Bankruptcy Law (RS Official Gazette, no. 104/09, 99/11 – other law, 71/12 – US, 83/14, 113/17, 44/18 and 95/18)(prior liquidation procedure, bankruptcy, reorganisation) and undergoing compulsory liquidation pursuant to the Company Law (RS Official Gazette, no. 36/11, 99/11, 83/14 – other law, 5/15, 44/18, 95/18 and 91/19);
