The Development Fund of the RS has established special conditions for financial support for economic entities whose registered activity code is mainly in the field of tourism, hospitality and passenger traffic.
In accordance with the Regulation on Establishing the Program of Financial Support to Economic Entities for Maintaining Liquidity and Working Capital in Difficult Economic Conditions Due to the COVID-19 Pandemic, the following conditions have been established:
a) a repayment period of up to five years, which includes a grace period of up to two year, the total duration of the loan is up to 24 months of grace and up to 36 months of repayment. RSD,
- for small legal entities up to 80,000,000.00 RSD - for medium-sized legal entities up to 180,000,000.00 RSD d) the maximum amount of the approved loan can be up to 80% of the realized business income according to the last submitted financial report d) repayment of the loan will be made in monthly annuities; in the grace period, the interest is calculated and attributed to the main debt
e) the business entity in the period from March 15, 2020 until the end of three months after the release of the funds, may have a reduction in the number of employees
ž) depending on the amount of the loan, the loan beneficiaries submit the following means of security:
- up to the amount of 5,000,000.00 dinars, the means of security are promissory notes of the loan beneficiaries and the guarantee of one or more founders or the guarantee of a natural person who is employed for an indefinite period, with the applicant for a loan or another business entity
- up to the amount of 20,000,000.00 dinars, the means of security are promissory notes of the loan beneficiary, the guarantee of one or more founders and the guarantee of a related legal entity or the guarantee of a reputable business entity that is not a legal entity related to the loan beneficiary
- up to the amount of 80,000,000.00 dinars, the means of security are promissory notes of the loan beneficiary, the guarantee of one or more founders and the guarantee of a creditworthy business entity that is not related to the loan beneficiary
- for the amount above 80,000,000.00 dinars, the means of security are promissory notes of the loan beneficiary, a pledge on equipment, goods and/or vehicles owned by the loan beneficiary or the mortgagor and/or first-order mortgages. For clients from the Fund's portfolio who already have established real/adequate collateral, loans will be approved with higher-order collateral.
Real estate or equipment used as security for loans in accordance with this program does not have to be insured and the policy does not have to be tied in favor of the Fund.
A pledge on equipment, goods and/or vehicles or a mortgage can also be security for loan amounts less than 80,000,000.00 dinars.
If the founders are persons who are foreign nationals or companies registered abroad, in that case, promissory notes of the founders are not submitted.
Special conditions can also be applied to business entities from the field of tourism, catering and passenger traffic that have been granted funds under the conditions established by the Regulation, but only with regard to the extension of the grace period and loan repayment period. To extend the grace period and loan repayment period, a new request must be submitted to a special email address defined for the mentioned loans.
The main activity codes in the field of tourism, hospitality and passenger traffic to which special conditions apply can be found here:
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