Home Corporate banking „ODA” Guarantee Product

"ODA" Guarantee Product

Product offered by the Organization for the Development of Entrepreneurship (ODA), with the aim of stimulating the establishment and development of SMEs, as well as increasing the access of SMEs to borrowed financial resources by granting individual financial guarantees to guarantee loans that do not meet the risk requirements of Banks, including sufficient collateral security.
Amount of the guarantee

min. MDL 500,000 max. MDL 7 mln

Maximum term

18 months

ODA Guarantee

up to 80%

Currency

MDL

Grace period

6 months

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Eligibility criteria for the Ordering Customer
  • Individuals carrying out entrepreneurial activities or legal entities that meet the SME sector classification criteria stipulated in the legislation in force, as well those that comply with the provisions of the NBM Regulation no. 231/2011 on assets and conditional commitments classification of Standard or Supervised risk category.
Ineligible projects
  • Enterprises engaged in the manufacture and sale of products prohibited by the legislation in force.
  • Currency speculation.
  • Financing of company acquisition transactions.
  • Investments in securities.
  • Payment for financial services.
  • Financing of construction companies/housing projects.
  • Renting out own premises.
  • Granting loans to individuals and legal entities.
  • Casino and gambling activities.
  • Other activities excepted by guarantee products.

Application for credit guarantee under the Credit Guarantee Fund

1
The entrepreneur submits the application for credit guarantee.
2
The Bank analyzes the viability of the business and forwards the application to the Organization for Entrepreneurship Development.
3
The Organization reviews the application for credit guarantee and informs the Bank about the decision made.
4
The parties sign the loan, collateral/mortgage agreement.
5
The Organization issues the letter of financial guarantee based on loan agreement.

Useful information

  1. Start-up enterprises;
  2. Newly-formed enterprises;
  3. Enterprises founded by young entrepreneurs, aged between 18 and 35, with at least 51% ownership of the enterprise (newly-formed and active);
  4. Active enterprises operating for a minimum of 12 months;
  5. Enterprises founded or managed by women entrepreneurs (newly-formed and active);
  6. Enterprise operating for a minimum of 24 months and exporting or goods purchased on loan will facilitate the export orientation of the enterprise.
  • Investment,
  • To refinance previously granted credits/loans,
  • To complete the working capital (with the exception of revolving credits).

Guarantee fee ā€“ 0.5% per annum of the guarantee balance. The Creditor calculates the guarantee fee monthly, based on the individual guarantee balance at the end of the calculation month, taking into account the guarantee fee rate established for the Guarantee Product, under which the guarantee was granted. In case of failure to comply with the fee payment schedule, the Beneficiary shall pay a penalty of 0.5% of the outstanding fee amount for each day of delay. The guarantee fee shall be charged to the Beneficiary simultaneously with the loan interest, in accordance with the payment schedule provided by the Creditor, subject to the payment imputation rules stipulated in Art. 875 of the Civil Code of the Republic of Moldova.

National currency:

For loans granted in foreign currency, the guarantee shall be provided in the national currency at the official exchange rate of the NBM as of the date of the application for Ā guarantee, which will be applied throughout the period of validity of the guarantee.