MICRO & SELF-EMPLOYED
European funds
Why choose First Bank

For the development of your projects you have access to funds

We offer you financial products for grant pre-financing, for completing your own contribution (eligible or ineligible), as well as for guaranteeing pre-financing / advance within projects with non-reimbursable funds, European or from the state budget.
BRIDGE LOAN UNTIL REIMBURSEMENT OF THE GRANT AMOUNT

Obtain additional liquidity for the financial support of the project by pre-financing the non-reimbursable amounts, until their collection from the authorities (until the reimbursement of the grant).

 

BENEFITS

 

- FLEXIBILITY - reimbursement depending on the project implementation period, correlated with the grant collection period.

- DIVERSIFICATION - the structure of guarantees is varied, including the guarantees issued by Guarantee Funds.

More information can be found below, in “Details” section.

Details
Details

Maximum amount:

  • up to 100% of the grant amount in case of non-revolving financing (any reimbursed amount cannot be used again);

  • maximum value of two successive tranches from the value of the grant - the largest 2 tranches), in case of revolving financing;

 

The maximum period of use of the credit must be within the maximum period of project implementation.

Easy access, the credit can be used in one or more installments based on supporting documents.

The repayment period is correlated with the duration of the project and with the deadline of receiving the grant.

The reimbursement will be established correlated with the collection dates of the amounts related to the non-reimbursable funds (grant).

Support from First Bank in choosing payment methods within the commercial contracts, review of credit withdrawals.

LOAN FOR CO-FINANCING BENEFICIARY CONTRIBUTION

You can use this loan for completing your company's own sources for the part of co-financing the eligible and ineligible expenses within the projects with non-reimbursable financing.

We offer you a flexible guarantee structure, adapted to your project and company, including the guarantee issued by guarantee funds.

More information can be found below, in “Details” section.

Details
Details

Maximum amount:

  • up to 85% of the own contribution to the eligible expenses from the project;

  • up to 75% of the total value of ineligible expenses from the project. For some type of clients it is also possible to finance the VAT related to the eligible and ineligible expenses, in case the VAT is not considered the eligible expense within the financed project.

 

The maximum period of use of the credit must be within the maximum period of project implementation.

Easy access, the credit can be used in one or more installments based on supporting documents.

The repayment period is up to 120 months with the grace period correlated with the project implementation period.

In case of VAT financing for which you submit reimbursement requests to the Ministry of Finance, the reimbursement period is of maximum 3 months after the completion of the project.

Reimbursement is made in equal monthly or quarterly principal installments, or in equal monthly installments. In justified cases, an atypical reimbursement schedule may be approved. Reimbursement will be established in strict correlation with the stages of project implementation.

The VAT refund financed by the facility will be correlated with the settlement period of each VAT refund request or will be made in equal / atypical rates.

The facility is nonrevolving. For the VAT component the facility can be revolving.

Before each use, the client will present the proof of his own contribution.

Support from First Bank in choosing payment methods within the commercial contracts, review of credit withdrawals.

LETTER OF GUARANTEE FOR ADVANCE /PREFINANCING FROM THE GRANT

We guarantee the advance granted by the Managing Authority, for the implementation of your project.

We offer you a flexible guarantee structure, adapted to your project and company, including the guarantee issued by guarantee funds.

More information can be found below, in “Details” section.

Details
Details

The guaranteed amount is up to 100% of the value of the pre-financing / advance granted by the Managing Authority.

The guarantee period will cover the duration of the project until the full justification of the pre-financing obtained (project implementation period + 115 days)

Our dedicated staff is at your disposal for any information about accessing European funds. For more details you can write to us at this address.

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