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;
  •  short-term credits are applied fixed interest rate for the entire period of credit term;
  •  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.

How can you get a credit?

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.