Specific Terms and Conditions of the Marketing Campaign Free Your Cashflow
1. 20% reduction on your monthly cash demands
You will benefit from a reduction of 20% on your monthly repayments. Under this offer, you will benefit either from lower 1interest rates applicable to the loan,or a longer term within which to repay the loan, a combination of thetwoaforementioned factors, or other terms which are subject to discussion with the Bank’s representatives. By way of examplethe 20% reduction on your (annuity)repayments can be achieved by prolonging the term of the loan by 30% (e.g. from 8to 10.4years) and reducing the rate by 10% (e.g. from 5.0% to 4.5% p.a.).
2. 2Associated Fees, Transaction Fees or Other Fees
ZEROFees -the Bank will notcharge any processing, legal, architect, account maintenance, external valuation, transaction, early repayment, commitmentand any other fees.The penalty fees incurred upon transferring an existing business loan with another bank to FCM Bank, may be included within the amount of the loan upon request. 3Evidence is to be provided, showing the amount due/paid to the other Bank (where the business loan is held) as early repayment fee and/or other type of fees related to the transfer of the said existing business loan.
3. It only takes one month
We commit ourselves to make your loan switching process as smooth and fast as possible. The Bank will endeavor to issue the Sanction Letter within one month from the date when all documentation requested by the Bank is finalized and submitted to the Bank. The term of one month shall not apply in the case of participating loans and in other instances where the Bank, in its sole discretion decides that it would require more time to assess the application, in which cases the Bank will issue the sanction letter only when all the processes have been duly satisfied.
Both legal and natural persons are eligible for our business loans. Representatives of legal persons and natural persons must be 18 years of age or over. To become eligible for our business loans, you must a first be onboarded as a customerof FCM Bank. This means that you must first successfully make it through the customer onboarding process. Moreover, the granting of the facility is also subject to a satisfactory credit assessment.
5. Loan minimum value
We consider requests for corporate lending of a minimum value of€300,000 for working capital loans andof a minimum value of €500,000for other Business loans offered by the Bank.
6. APR percentages & Interest rates
Annual percentage rates(APR)do not exceed 5% per annum. The applicable interest rate consists of the Bank’s base rate at the time of the granting of the loan (currently set at 1.99% per annum) plus a margin. Interest rates range from 3.48% per annum to 5% per annum depending on the credit worthiness of the customer.APR within this marketing campaign is equivalentto the applicable interest rate as no fees will be charged(i.e. if we agree on Bank’s base rate plus a margin of 3%, you will be charged an annual interest rate of 4.99%p.a.(Bank’s base rate of 1.99%plus margin of 3%) and thereforeAPR will equal to 4.99% p.a.).
7. Information required
No financial information will be required when you request information with respect to the products and the marketing campaign. Financial information will be requested when you have showed interest in the campaignand you grant consent for a call via the landing page.
8. Terms and Conditions
These Specific Terms and Conditions shall be read in conjunction with the General Terms and Conditions and allother terms and conditions and/or agreements of the Bank.
1The applicable Annual Percentage Rate (APR) is calculatedaccording to the interest rate of the existing loan you already have with another Bank.
2This is not in conjunction with any other offer.
3The Relationship Manager will advise what documentation is required on the first meeting.
4The Bank will provide you with an indicativelist of the documentation that is required for the vetting of the Compliance, Corporate and Risk Department. Furthermore, you must be 18 years of age or over in case of natural persons or legally established corporate entities.