As you understand, it is impossible to describe all possible loan conditions in Montenegro, because every bank has its own terms. I will describe the conditions for getting a business development loan at ERSTE Bank.
Business Development Loans at ERSTE Bank (Montenegro)
Business loans at ERSTE Bank can be either short-term or long-term.
Short-term Loans at ERSTE Bank (Montenegro)
Short-term loans can be issued for the following purposes:
- To improve short-term liquidity.
- A loan for importing goods or equipment. You must have a signed contract with a foreign partner.
- A loan to increase working capital.
Long-term Loans at ERSTE Bank (Montenegro)
Long-term loans can be issued for the following purposes:
- Investment loan – as the name suggests, the loan is requested to finance an investment project. For example, building a house for resale.
- A loan to increase working capital.
Collateral for the Loan
As you know, banks do not like to issue loans without guarantees. At ERSTE Bank, the following forms of collateral are accepted:
- Promissory notes;
- Guarantors;
- Guarantee from another legal entity;
- Cash deposits;
- Real estate;
- Other types of collateral, such as goods, cars, etc.
