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CSOB Special Purpose Loan for Clients in a Municipal Sphere

Loan for municipalities, towns, municipality associations, regional offices and contributory organisations, established by a region, town or municipality. You will finance both short- and long-term investment and development programs through it. You can use it also to pre-finance subsidies and co-finance programs supported from funds of EU, the state and other institutions.


Benefits

The loan will provide adequate funds to finance scheduled investments from foreign sources for you, also in the long term horizon.


Other merits include:

  • individual approach to create the drawing and payment schedules, with possible payment deferral by up to 1 year since the drawing started,
  • option of extra instalments,
  • optimum method and amount of interest calculation,
  • possibility to get support through cutting interest from the loan pursuant to the Government Decree No. 299/2001 Coll. on financing reconstructions and modernising residential prefabricated houses,
  • loan can be utilised combining it with other products (like mortgage loan).

 

Get Acquainted

You can draw the loan either in crowns or in selected foreign currencies.

  • loan drawing:
    • according to actual conditions in the loan contract to supplier’s account with CSOB or with another bank,
    • one-shot or progressive drawing: according to presented document/invoices or in agreed terms and amounts,
  • payment for the principal regular or irregular, or combined,
  • interest payment regularly in quarters or months,
  • interest rate depends on :
    • quality of business plan,
    • client’s solvency,
    • maturity.
  • interest rate is:
    • fixed,
    • floating.
  • security value depends on :
    • actual business case,
    • maturity,
    • quality of business plan and of economic position of client.
  • you can secure the loan with :
    • blanc promissory note,
    • real estate,
    • deposit,
    • guarantee by Českomoravská záruční a rozvojová banka (“Bohemian and Moravian Guarantee and Development Bank”).

Terms of Use

If a municipality asks for the loan, its representatives shall submit:

  1. original copy, or a copy certified by a notary, of the record of the constituting meeting of the community council electing the mayor and his deputy, way how to sign including the seal in case the bank has not them available yet,
  2. original entry (or a copy certified by a notary), showing that the community council has approved to ask for the loan. The application for loan shall be signed by an authorised representative (like mayor),
  3. budget for the relevant year approved by the community council, or budget provisional arrangement applicable at the moment of the loan application, and annual balance report for the last year, inspected by the regional office or auditor,
  4. finance statement Fin 2-12 M and balance sheet Úč OÚPO 3-02 for the last closed annual accounting period and the last monthly statement Fin 2-12 M and the last semi-annual statement Úč OÚPO 3-02 applicable at the moment of loan application,
  5. profit and loss sheet Úč OÚPO 4-02 for the last closed annual accounting period, if the client pursues a parallel gainful activity, and the last semi-annual statement applicable at the moment of the loan application,
  6. enclosure of state organisation units and of the contributory organisations Úč OÚPO 4-02 for the last closed annual accounting period and the last (in time) semi-annual statement applicable at the moment of loan application,
  7. economic analysis of the business plan if the loan instalments are going to be paid from the income from the credited investments,
  8. confirmation of Czech Social Security Administration (Česká správa sociálního zabezpečení, ČSSZ) and the relevant health insurance company not older two months on payer’s liabilities ensuing from the health and social insurance system,
  9. declaration on relations to other entities,
  10. overview of drawings and payments of loan according to signed contracts and overview of trade receivables and liabilities,
  11. possibly other enclosures, e.g. with demographic and other data that can be used to prove the economic and finance capacity of the applicant,
  12. documents on proposed security for the loan.

If a region asks for the loan, the same conditions as for a municipality apply, and the conditions apply on the regional council instead of the community council and on the chief regional officer (“hejtman”) instead the mayor.

If a municipality association asks for the loan, the documents must be complemented with the entry in the register, the Memorandum of Association delimiting ownership rights and Articles of Association. Enclosures (3)–(12) are the same as for municipalities, plus documents in items (3)–(6) and (8)–(11) concerning selected, most important association members.

If a contributory organisation established by a municipality/town or region asks for the loan, its representatives shall submit to the application:

  • constituting deed, and its amendment, if any,
  • written approval of the promoter to the proposal to provide for the loan,
  • all types of finance statements, as submitted by municipalities,
  • auditor reports for previous 2 years inclusive auditor’s finding,
  • finance schedule,
  • income tax return for previous 2 years certified by the Tax Office,
  • confirmation by the Tax Office that the obligations of the contributory organisation towards the state budget have been satisfied (not older 2 months),
  • confirmation by ČSSZ and the relevant health insurance company on outstanding liabilities of payer’s liabilities ensuing from the health and social insurance system (not older 2 months),
  • declaration on mutual relations to other entities,
  • possibly other enclosures with data additionally proving the economic and finance capacity of the client.
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