Geo

ECO Loan

Eco loans for businesses are designed to help businesses to improve energy efficiency, increase competitiveness and reduce negative impact on the environment.
Benefits

A ProCredit eco loan for businesses can help your business to:

  • improve efficiency and increase the quality of production
  • reduce operating costs – lower energy costs mean lower business expenses
  • reduce its negative impact on the environment

What can eco loans for businesses be used for?

Production processes – replacing old machines or equipment or purchasing additional machines or equipment

Building envelope – applying thermal insulation to external walls/ceilings/floors and installing double-/triple-glazed windows or doors

Electrical equipment – purchasing high-efficiency electric motors, new lighting systems, appliances rated A+ and above, etc.

Heating or cooling – installing new central heating/cooling systems, boilers, air conditioners, etc.

Waste management – separation of waste, recycling (paper, plastic, glass) prevention of waste, etc.

Renewable energy sources – installing solar water heating systems (flat collectors, vacuum tube collectors), ground heat pumps or biomass boilers (wood, pellet, etc.).

Note: Eco Loans are available by signing a line of credit agreement, supplemental line of credit agreement, short-term loan agreement, supplemental short-term loan agreement, business overdraft agreement, supplemental business overdraft agreement, loan agreement and supplemental loan agreement. You can find agreement templates on the official website of the Bank​.

Loans with standard repayment schedule

GEL

USD

EUR

Loan interest rate

Fixed, indexed (refinancing rate, 6 Month TERM SOFR, EURIBOR)

Nominal interest rate

From 13.5%

From 7.70%

From 7.00%

Effective interest rate

From 15.29%

From 9.03%

From 8.30%

Effective interest rate in case of a 3% index increase in USD and EUR / 5% index increase in GEL

From 21.24%

From 12.94%

From 13.07%

Effective interest rate in case of 15% depreciation of the foreign currency

N/A

From 28.04%

From 28.45%

Loan disbursement fee

From 0.20%

Cash withdrawal fee

0.20%

0.30%

0.30%

Real property mortgage registration fee

GEL 158 per property

Real property mortgage cancellation fee

GEL 158 per property

Prepayment fee/refinancing fee on different bank loan

For fixed rate:

No more than 0% of the amount paid to cover the principal balance of the loan if there are 0 to 6 months left before the expiry of the agreement.

No more than 0.5% of the amount paid to cover the principal balance of the loan if there are 6 to 12 months left before the expiry of the agreement.

No more than 1% of the amount paid to cover the principal balance of the loan if there are 12 to 24 months left before the expiry of the agreement.

No more than 2% of the amount paid to cover the principal balance of the loan if there are more than 24 months left before the expiry of the agreement.

For indexed rate:

0% if less than 6 months are left before the loan expiry.

0.5% if more than 6 months are left before the loan expiry.