This loan is intended for entrepreneurs and businesses to cover temporary shortages of funds. You can use the overdraft in crowns or in select foreign currencies. ČSOB does not check the purpose of the withdrawn funds.

Benefits

Using the overdraft you can ensure sufficient funds for your company for general financing of operating needs or a reserve for unexpected expenses.

Other merits include:

The credit can be used gradually up to the amount of the agreed credit limit,
The limit is constant throughout the entire term of validity of the loan contract (not regulated),
The loan is gradually repaid each time funds arrive on the current account,
You only pay interest on the amount of the loan used,
A term of notice that allows the contractual relationship to be terminated without giving a reason, at any time during the course of the validity of the loan contract,
Not having to state the final repayment decreases the demands on administrative processes for the annual evaluation of the performance of the terms and conditions of the contractual relationship (formerly the necessity of signing amendments, or a new contract).

Get Acquainted

You can use the short-term overdraft in crowns or in select foreign currencies.

Parameters of loan:

Intended for covering transitional shortages of finances or for financing operational needs,
We do not monitor the use of the loan,
The loan is provided without giving any final date of repayment and with a notice of termination of three months,
Non-regular use of the loan up to the amount of the credit limit depending on immediate needs,
The principal is gradually repaid each time funds are credited to your current account,
Interest is paid regularly each month,
A floating interest rate comprised of:
1. The rates of the interbank market (PRIBOR or EURIBOR) and
2. The margin derived from the company risk
Fees are set individually,
The credit can be secured with
1. Receivables from commerce (standard method),
2. Real estate (with insurance immobilised to the credit of ČSOB),
3. A deposit (a right of lien to a deposit with ČSOB), or
4. a third-party guarantee.

Terms of Use

An account kept with CSOB.

Along with the application you must submit:

Basic information on company,
Information on the subject of financing,
An officially verified copy of the decision of the relevant authorities on authorisation for entrepreneurial activity, or a document substantiating legal subjectivity,
Annual financial statements for the period of the last three years (for companies with auditing obligations verified by an auditor), annual report, and auditor's report (if these are compiled),
Tax returns for the last three years (including attachments submitted to the Financial Authorities),
Economic results for the last month and the corresponding month of the previous year covering the accounting statements (balance sheet and statement of profit and loss),
Business plan signed by the statutory body of the company with characteristics of the productive activities given as well as other important information on previous development, status, and prospective productive activities,
Financial plan for the period of credit engagement,
Confirmation of freedom from indebtedness towards the Financial Authorities, the Czech Social Security Administration, and the relevant health care company,
A declaration of mutual bonds with other entities,
Materials relating to the proposed security,
Any bank references to the company and its owners,
Additional information required by the client credit worker (such as comments on the causes of fluctuations in the accounting statements, an investment plan, the accrual and deferral of receivables, a current analysis of financial investments, the share of export in sales, or an analysis of sales according to primary activities),
A document on secured sales (depending on the nature of production).

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