Long-Term Credits

Business growth depends on funds available. At Šiaulių bankas we place high value in business initiatives and have a flexible crediting system that is optimal both for small- and medium-sized enterprises.

The bank offers credits to clients willing to expand their business, boost working capital or finance investment projects.

• credits are granted in EUR, USD;
• credit repayment time frame and the size of instalments are agreed between the client and Šiaulių bankas;
• credit coverage deadline may be extended under mutual agreement;
• long-term credit interest rates are set in accordance with LIBOR / EURIBOR benchmark interest rates plus the interest rate margin applied by the bank;
• interest rate payment takes place on a monthly basis;
• credit repayment is guaranteed by real estate and movable property, also with the guarantees extended by Investicijų ir Verslo Garantijos UAB and Žemės Ūkio Paskolų Garantijų Fondas UAB;
• the size of the credit may not exceed 70% of the market value of the mortgaged real estate or 50% of the market value of the movable property.

A filled out credit application must be submitted together with the following documents:

•  a company establishment agreement, registration documents, Statutes of the company (with amendments and addenda), if you are not a client of Šiaulių bankas;
•  activity licence as defined in the Statutes where such activity is subject to licensing under the law;
•  corporate governance regulations of the Board (if there is one);
•  a specimen signature card, if you are not a client of Šiaulių bankas;
•  a certificate from the Social Insurance Fund Board (Sodra) showing the company´s liabilities with Sodra and a certificate from the State Tax Inspectorate about financial obligations to the state budget;
•  a summary business plan on the use of the short-term loan;
•  an investment project or a business plan (for a long-term loan);
•  documents of assets to be mortgaged;
•  financial reports – balance sheets, profit/loss statements, cash flow statements, and income declarations for the previous two years;
•  documents substantiating the use of the loan – agreements, contracts, invoices, construction/reconstruction estimates;
•  minutes of the general shareholders´ meeting on the loan application and asset mortgaging or a statement from the minutes of the meeting;
•  a list of shareholders who were present at the meeting;
•  a statement from the minutes of the company management meeting during which the head was appointed;
•  the passport of the person authorised to sign agreements with Šiaulių bankas;
•  shareholders´ register, a list of shareholders in a form prescribed by the Bank.

Should the Bank approve your application for the loan, you will be required to:

• sign a credit and mortgage agreement;
• insure the mortgaged assets for the benefit of Šiaulių bankas for the entire credit term at the insurance company approved by Šiaulių bankas and submit the insurance policy.