Questions and answers

The recommendation for small enterprises and entrepreneurs is to use the cash funds approved based on account overdraft within a shorter time period, in the case when the planned inflow from the collection of trade receivables is late, primarily for paying obligations (e.g. VAT and other duties towards the state, liabilities towards employees, for advance payment based on which they receive a certain rebate, if they are expecting an inflow in the next several days, etc.). By this they will solve the problem of temporary non-liquidity in business and settle their obligations in a timely manner or use the chances on the market and achieve additional income. The advantage of account overdraft is the fact that cash funds are used according to the client's purposes up to the amount which has been approved, while interest is paid only for cash funds used during the month.

Working capital loans are approved for a period of 24 months with the option to use the grace period of up to 6 months.

After approval, the amount of working capital loan is paid to the client's payment account once, while repayment is done in equal monthly annuities. The loan is approved for a period of up to 24 months.

Revolving loan is a kind of framework which enables the client to withdraw cash funds depending on their current business needs and to return the funds when they become due according to the agreed schedule. The period for which the revolving loan is approved can be up to 12 months, and the deadline for repayment of individual tranches depends on the type of revolving loan (dinar or foreign exchange).

In order for a legal entity to apply for payment account overdraft at our bank, it needs to have been in business for at least 12 months, while in order to submit a loan request it needs to have been in business for at least 15 months.

When submitting a loan request, the legal entity needs to have an open payment account at our bank.

The basic criteria that must be met by a legal entity when applying for a loan at our bank are as follows:

• it must have been in business for at least 12 months in order to apply for account overdraft, while in order to submit a loan request it needs to have been in business for at least 15 months;
• the client needs to achieve a certain level of income or total receivable income defined by the Bank in the period of 12 months before applying for a loan;
• it must settle its obligations towards financial institutions in a timely manner;
• it must have an acceptable level of indebtedness;
• it must have a regular credit reference agency report;
• the payment account of the legal entity must not have been frozen for more than five business days in the last 12 months or a total of 10 business days in separate freeze periods, in the period of six months before applying for a loan.

Costs of loan approval and realization depend on the type, amount and period of the loan for which the client is applying. Basic costs include the fee for request processing and interest per loan. In addition to these costs, the client also has the cost of credit reference agency withdrawal, bills of exchange, certificate on the balance of tax liabilities (for entrepreneurs only) and potential costs of establishing security per loans, if they are required (assessment of mortgage and pledge by the bank's authorised appraisers, costs of registration of mortgage/pledge at the Cadastre/Business Registers Agency and insurance of real estate and pledge).

The amount and period for which a loan can be approved depend on many factors: client's creditworthiness (amount of income and regular business operations), number of years the client has been in business, type, and/or purpose of loan, offered security instruments, activity, etc. In terms of the amount and deadline for loan repayment, we strive to meet our clients' needs as much as possible.

This amount primarily depends on the client's good standing, marketability of the facility over which mortgage is established, client's participation in the investment, purpose, amount and deadline of loan repayment.

The time period required for loan approval at our bank depends on the type of loan for which the client applies and the required security instruments per investment. Of course, it also depends on how long it takes the client to collect the required documentation for the requested loan. The deadline for loan approval depends on the given situation and the said information.

The business credit card is used for payment and withdrawal of cash in the amount that is within the approved limit. IT can be used in the country (RSD currency) and abroad (EUR currency). A credit card is the simplest way for the clients to finance the costs of transport, toll, hotel and other hospitality services in the country and abroad. The clients may perform deferred payment without interest up to the amount of approved limit up to 40 days (the entire spending in the current month becomes due for payment only on the 10th of the following month).

When paying and repaying the loan the middle exchange rate of the National Bank of Serbia (NBS) is always used.

It is possible to get a POS terminal from the Bank with the option of accepting all types of payment cards. It is sufficient to contact the small business advisor at one of the Banca Intesa branches and request an offer for accepting payment cards. The terms and fees for accepting payment cards depend on the company's activity, as well as on potential turnover via the POS terminal.

With the BizMobi app, it is possible to make payments within the domestic payment transactions, while for now there is no option for payments abroad.