On the eve of the new agricultural season FUIB has launched special products and services for agricultural businesses with annual turnover of up to UAH 80 million. FUIB offers privileged terms of financing everyday operations of the agricultural business (purchase of seeds, fertilizers, POL) and financing towards purchase of new agricultural equipment for farming and harvesting.
“Having determined the agriculture as the key industry for its business growth, FUIB penetrates actively into this new for us segment, offering flexible terms and tailored approach to each customer,” says Aleksey Volchkov, Deputy Chairman of the Management Board in charge of the FUIB’s corporate business. “We are the bank that actually gives loans and develop actively the product range, which will enable us to become a noticeable market player in this business area.”
FUIB offers working capital loans of up to UAH 16 million for up to 36 months at 21.5% p.a.; new equipment loans of up to UAH 8 million at 22% p.a. for 36-60 months depending on the country of origin (USA, Japan, European countries, CIS or Ukraine). The loan repayment schedule is drawn up with regard to seasonality of the production cycle.
The distinguishing feature of the FUIB’s lending programmes is the absence of hidden charges and fees, and flexible security requirements. Also, there exist an opportunity to receive a privileged loan within special partner programmes. As planned, FUIB will broaden its range of products for agricultural businesses with the programmes for financing construction of grain elevator complexes, for financing investment in the dairy industry, etc.
Also, FUIB offers to agricultural businesses the privileged terms of cash and settlement services within the “Agro” service package. With this service package the customer enjoys low national currency cash service fees: no fee for cash deposit towards the current account, low fee for cash withdrawal (0.6%). FUIB understands that the specific nature of the agribusiness does not allow withdrawing money from the turnover towards time deposits; this is why the Bank accrues 3% p.a. on balances of current accounts. Thus, the account owner generates additional income from its temporary untied funds. Also, within the “Agro” service package the customer is provided with access to the “Client-Bank” system, using which the customer can enjoy 15 fee-free payments within a month and privileged fees for outgoing payments (UAH 1.00).
For details of the FUIB’s products and services for agricultural businesses please visit the Bank’s web site.