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PrivateBusiness

Overdraft

Accelerate your business with flexible credit limit

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  • Financing is suitable for balancing uneven cash flows caused by payment deadlines and daily expenses.
  • Can be perfect for one-off purchases you know you can repay quickly.
  • Credit limit is constantly available in your company’s account.
  • Incoming turnover will cover the used limit and will reduce interest expenses.
  • Limit from 2000 € up to 50% of the company’s average monthly net turnover.
  • Term up to 12 months.
  • Annual interest rate for loans:
    • without collateral - from 10%.
    • with collaterial (real estate property, commercial pledge) – average 5%.
  • A fixed annual percentage for the unused part of the limit - 3%
  • Interest and commitment fee will be debited from current account real estate property, commercial pledge on the agreed payment date.

As a precondition to applying for the financing, the corporate customer must have been carrying out business activities for at least 12 months.
  1. Fill out the application on the Internet Bank. We will contact you within 2 business days.
  2. Sign the agreement via internetbank or book a time at Swedbank branch.
  3. If necessary, register the collateral and procure insurance.
We can ask for the annual financial report (not older than 12 months) if it has not been submitted to the Commercial Register.
In case of property collateral needed we ask a valuation report from a real estate agency accepted by the bank.

Overdraft

Service Price, EUR
Up to EUR 200 000 Above EUR 200 000
Applying
Management fee If signed via Internet Banking – 1% of the total limit, min. EUR 100.00
If signed at branch – 1.5% of the total limit, min. EUR 150.00 		On case-by-case basis, min. EUR 300,00
Real estate valuation by Swedbank, approval of appraised market value Real estate valuation is prepared in abbreviated form and is not suitable for presenting to other credit institutions, and cannot be used for the needs of other individuals or legal entities. 30,00 - 1000,00 Detailed Swedbank real estate pricelist
Using
Fee for non-used credit limit (% per annum) 1-3%
Limit increase If signed via Internet Banking – 1% of the additional limit, min. EUR 100,00
If signed at branch - 1.5% of the additional limit, min. EUR 150,00 		On case-by-case basis, min. EUR 250,00
Extending the loan repayment period If signed via Internet Banking – 1% of the total limit, min. EUR 100,00
If signed at branch - 1.5% of the total limit, min. EUR 150,00 		On case-by-case basis, min. EUR 250,00
Changes and contractual amendments Up to 0,5% of the total limit, min. EUR 150,00
Full or partial early repayment of the limit 1,5% per year of the limit for the remaining agreement term
Preparation and issuance of standard loan extracts and bank references 25,00 - 50,00 + VAT Standard - 25,00 + VAT
Urgent - 50,00 + VAT
Preparation and issuing of bank’s consent upon client's request On case-by-case basis, min. 30,00 + VAT If the Bank’s consent needs to be notarized, then, in addition to the fee, the Customer will cover the expenses of notary services.
Fee for registration of mortgage in branches of Land Register of Riga city or district on client's behalf If the loan is guaranteed by real estate. 35,00 The fee is withheld if the client wishes to use the services of Bank's courier.
Monitoring of the loan in connection with insurance of the collateral If the loan is guaranteed by real estate or commercial collateral. 145,00 - 285,00 If liabilities secured against this collateral:
- are less than EUR 1.5 million - 145,00
- exceed EUR 1.5 million - 285,00
Lease agreement approval If the loan is guaranteed by real estate. 50,00 - 200,00

Effective from 19.08.2020.

Contracts entered into between the European Investment Fund (EIF) and Swedbank enable us to provide loans and leasing services to micro, small and medium-sized enterprises in Estonia, Latvia, and Lithuania. The EIF aims at helping to finance and carry out investments in the European Union and ensuring greater access to capital. The guarantee programmes also help to finance necessary investments if an enterprise does not have sufficient collateral.

EaSi guarantee

The objective of this program is to increase access to finance for micro-enterprises by offering additional guarantee from EIF.

Requirements for using the EaSI guarantee

  • Fixed assets and working capital are financed.
  • The maximum amount to be financed is up to 25 000 €.
  • The company has up to 9 employees.
  • Annual turnover is up to 2 million € or the balance sheet total is up to 2 million €.
  • The guarantee is free of charge.

To get the EIF-supported financing, ask your contact person in the bank or fill in an application form here.

The supported financing benefits from the support of the European Union under the Guarantee Facility established under Regulation (EU) No 1296/2013 of the European Parliament and the Council establishing a Union Programme for Employment and Social Innovation (EaSI) and the European Fund for Strategic Investment (“EFSI”) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.

COSME guarantee

Requirements for using the COSME guarantee

  • Fixed assets and working capital are financed.
  • The maximum amount to be financed is 1.5 million €.
  • The company has up to 249 employees.
  • Annual turnover is up to 50 million € or the balance sheet total is up to 43 million €.
  • The guarantee is free of charge.

To get the EIF-supported financing, ask your contact person in the bank or fill in an application form here.

This financing is made possible thanks to the Guarantee that has been provided by COSME and the European Fund for Strategic Investment (“EFSI”) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.

Swedbank and development financial institution ALTUM have signed a cooperation agreement on implementing a new state support financial instrument — portfolio guarantee.

The Portfolio Guarantees Programme is intended for small and medium-sized enterprises (SME). In the Programme, Swedbank plans to grant finance in the amount of EUR 11.7 million to 200 companies till July 2020.

If the existing company's collateral is not sufficient for a bank loan, this guarantee can help.

Conditions for granting the finance:

  • Maximum finance amount up to EUR 250,000
  • Eligible to the finance are investments in fixed assets and current assets
  • Lower loan interest rate
  • Guarantee's premium:
    0.8% per annum if the finance period is under 2 years
    1.42% per annum if the finance period is over 2 years
  • Fast handling process

If the amount to be financed exceeds 250 000 EUR, Swedbank offers setting up ALTUM's individual credit guarantee.

To receive finance with ALTUM guarantee, please contact your contact person at the bank or fill out the application here.

Finance under this Programme is considered de minimis support in accordance with Commission Regulation (EU)1407/2013 of 18.12.2013. Cabinet Regulations 537 of 10 .09.2017 on portfolio guarantees to facilitate lending to micro, small- and medium-sized businesses. More information on who can receive the ALTUM guarantee is here.

To find out which financing option would work best for your company, sign up for a consultation!

Business Credit Card - extra funds that can also be used for paying bills.

Cash against invoice - funding which is perfect in situations when you need to quickly increase the company’s working capital for goods or services sold while waiting for payment.

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