SOFIA, Bulgaria, Jan. 22, 2022 /PRNewswire/ — Fibank (First Investment Bank) has launched three new credit solutions for businesses: Green Transport (“green transport”), Green Energy Free Market (“green energy for the free market”) and Green Energy Own Use (“clean use of green energy”). They are suitable for micro-enterprises, SMEs and enterprises. These new loans are part of the bank’s policy to reduce the carbon footprint and invest in a sustainable future.
The credit solution Green Transport from Fibank is intended for the purchase of new electric vehicles. The loan finances up to 90% of the purchase price of the vehicles and is offered in BGN and EUR. It is characterized by low interest rates and management fees, as well as no prepayment charges if the loan is repaid with the borrower’s own funds. The term of the loan can be up to 7 years, with an optional grace period of up to 6 months. The principal is repaid in equal monthly installments and the vehicles purchased serve as collateral for the loan.
The credit solution Green Energy Free Market allows companies to invest in the construction of photovoltaic installations for the production of electricity intended to be sold on the open market. This is an investment loan with a maximum duration of 15 years, and a grace period until the commissioning of the photovoltaic installation. Collateral requirements are simplified, as the loan is usually only secured by the collateral of the newly built PV plant. Interest rates and commissions are lower than those found on the market for this type of financing. Another important feature is the seasonal payback plan, suitable for power generation.
The loan Green Energy Own Use is also intended for the construction of photovoltaic systems, both for own consumption and for the sale of electricity. Financing is up to 100% of the bank-approved construction cost. Interest rates are attractive and there is a possibility of further reduction of interest rates for borrowers using other Fibank products. The repayment plan is flexible and seasonal. The maximum loan term can be up to 10 years, but estimates of market prices and saved electricity costs indicate that the investment will typically pay for itself in 3-5 years.
Fibank loan officers will develop individual offers for applicants for one of the new green finance loans. More detailed information is available on the Fibank website at: https://www.fibank.bg/en/business/loans/corporate-financing/green-transport-investment-loan.
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