Credins Bank, with the support of European Investment Fund, launches the product: Kredia “COSME guarantee coverage” loan, which enables lending to businesses that do not meet the collateral adequacy criteria according to the Bank’s lending procedures.

How does it work?

The client submits to the bank a request for funding. Based on its financial situation, the required amount and the collateral available, if the collateral is not sufficient, the bank offers the possibility of loan financing through the product “Credit with Guarantee Coverage by COSME”.

Product features

  • Segment: Small Business, Micro Business, Medium Business and Agro Business
  • The financing amount: 10.000 -400.000 Euro / 1.200.000 up to 50.000.000 ALL
  • Currency: EUR, ALL
  • Maturity: 12 – 120 Months
  • Coverage: Max 50% of the loan amount is covered by COSME guarantee facility
  • Scope of the loan: Investments in fixed assets, working capital
    *Cases of purchases and construction of immovable properties are excluded

This financing is made possible through the support of the EU guarantee for Debt Financing with the financial backing of the European Union under the Loan Guarantee Facility established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Programme for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020)

List of criteria that exclude clients to be eligible for COSME Project
*If the client meets one of the criteria, it cannot be funded under the COSME project

Criteria to be met by the client(Final Recipient Eligibility Criteri) It is a Micro, Agro, ME, SE business;
It is not subject to collective insolvency proceedings nor fulfils the criteria under its domestic law for being placed in collective insolvency proceedings at the request of its creditors.
It does not have a substantial focus on one or more Restricted Sectors (which determination shall be made by the Bank in its discretion based, without limitation, on the proportionate importance of such sector on revenues, turnover or borrowers’ base); (Annex 1. List of restricted/prohibited sectors)
It is not delinquent or in default in respect of any other loan or lease either granted by Credins Bank or by another financial institution pursuant to checks made in accordance with the Bank’s lending procedures and terms.
It is not established in a Non-Compliant Jurisdiction; (list of countries attached to the schedule/Annex 2). In terms of any borrowing business incorporated outside the territory of Albania, this criteria shall be confirmed on a case by case basis by COSME representatives.
It is established and operates in a Participating Country or in an OCT linked to the Member State, if applicable, in which the Bank is established; (list of countries attached to the schedule/Annex 3; and
It is not performing illegal activities according to Albanian legislation or that of the country where the borrower is established (including national, European Union and international legislation, including the Charter of Fundamental Rights of the European Union and the European Convention on Human Rights and its Supplementary Protocols).
The borrowing company and its related companies should not have more than 250 employees, a turnover of no more than 50 mln euro and total assets no higher than 43 mln euro
Financing criteria (Final Recipient Transaction Eligibility Criteria) It is a new loan of the borrower at Credins Bank (refinancing of an existing loan before its maturity date shall not be eligible);
For loans:

  • 10 000 euro up to 150 000 euro the above criteria should be met
  • 150 001 euro up to 400 000 euro (or amounts over 18.600.000 ALL) the above criteria should be met and it should not meet any of the criteria specified in the form “List of criteria that exclude clients to be eligible for the COSME Project”

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Gjej Degën

Banka Credins