Slovakia’s small- and medium-sized enterprises (SMEs) could be on the receiving end of Ђ10m in new credit because of a loan to Ludova Banka from European Bank for Reconstruction and Development (EBRD).
Thanks to this credit line, Ludova Banka can provide the so-called “E credit loans” in cooperation with the EBRD to support Slovakia’s SME community.
Maturity of the loans will vary from one month to six years, while interest rates must be a minimum of 6.75 per cent per annum.
The main goal of E-credit is offer a finance product with a relatively low interest rate under advantageous conditions. The provision of E-credits via Ludova Banka will be supervised by the EBRD.
The approval procedure takes five days with a focus on cash flow scoring and the ability of SMEs to pay the credit when it is due.
Source: Trend
