Pledged Current Account

Pledged Current Account

Funding aimed at companies or individual entrepreneurs to provide cash flow support.

Credit approved for possibly renewable periods of 6 months during which only the interest owed on the used funds is charged and the capital is repaid at the end of the agreed period.

Characteristics

Target market

Companies and individual business owners.

Deadline

6 months, renewable.

Guarantees

  • Guarantees;
  • Mortgages;
  • Guarantee of financial investments;
  • Other forms of guarantee accepted by BI.

Required documentation

  • Statement of net income of applicants and guarantors/guarantors;
  • Company balance sheet for the last 3 years;
  • Updated balance sheet;
  • Copy of business licenses;
  • Salary domiciled (preferably);
  • Updated identification document:
              o  ID for resident individuals;

              o   Business Certificate for companies.

Advantages

  • Flexibility in the company's cash-flow management;
  • Works with the flexibility of a D.O. overdraft, but at a lower rate;
  • Interest is calculated on a daily basis and is only charged on the amount actually used.