Good season

Get ready in time for a new season with the help of our loans

Good season loans are intended for entrepreneurs and legal entities in tourist industry and can be used for a brush-up before a new tourist season for:

  • Construction, decoration, adaptation, reconstruction and extension, refurbishment of rooms, suites, logdes, hotels, catering facilities, etc.
  • Purchase of vessels and other equipment for rental purposes
  • Refinancing of existing loans for tourism purposes

Repayment schedule can be up to 5 years, with a range of interest rates depending on the Client’s standing and repayment terms.

The loan can be repaid in equal monthly instalments (annuities), quartely or in one-off amounts, and with Good season loans you get a unique opportunity for seasonal repayment scheme whereby during the three months of high season you repay the principal and interests, while for the remaining months you repay the interests only.

Security instruments
  • Mortgage
  • Fiduciary
  • Pledge
  • Surety of other legal or physical entity
  • Cash deposit
  • Surety of other bank
  • Bill of exchange
  • Collection order with authorisation 

Required documents
  • Client's application
  • Official financial reports (certified by the Revenues Directorate or Commercial Court) for the last 3 years, together with the overview for the current year (without certification)
  • Breakdown of buyers as of 31st December of the previous year as well as the breakdown for the current year
  • Overview of liabilities to suppliers as of 31st December of the previous year as well as the overview for the current year
  • Trial balance for the last 3 years and an overview of the current year
  • Bank account transactions (in domestic and foreign payment operations)
  • Property Sheet for the security instrument offered
  • Assessment of movable/immovable property
  • Audit report, where it was mandatory for the past 3 years
  • Consent for access to credit registry of the Central Bank of Montenegro (RKR)

Depending on the loan repayment schedule, one of the following documents must also be submitted:

  • Business plan or a projection of financial reports for the period of loan term (for placements with repayment term from 12 to 24 months)
  • Business plan for the period of loan term (for placements with repayment term over 24 months)