Textile and sewing and knitted industry

Loan purpose:

Provision of enterprises exporting fabric, knitted fabric and ready-made garment and knitted products with working capital through revolving loans

Loan form:

Opened revolving loan facility

Loan source:

Resources of the Fund for Supporting Exports under Export Promotion Agency;

Loan currency:

UZS (national currency of the Republic of Uzbekistan)

Loan term:

up to 36 months

Interest rate:

5% per annum

Maximum loan amount:

Based on the export volume for the last 12 months, in the following amounts:

• up to 1 million USD at export volume to 5 million USD

• up to 2 million USD at export volume from 5 to 10 million USD

• up to 3 million USD at export volume from 10 to 15 million USD

• up to 4 million USD at export volume from 15 to 20 million USD

• up to 5 million USD at export volume over 20 million USD

Loan repayment:

monthly, fix or variable payments;

Eligible forms of collateral security:

• collateral security of freely convertible and national currencies held in accounts opened with the bank

• collateral security of movable/ immovable property

• collateral security of real property rights;

• other forms of collateral security not prohibited by applicable law

Percentage of collateral security:

At least 125% of loan amount

Mandatory requirements for Borrowers:

• must be engaged in the export of fabrics, knitted fabric and ready-made garment and knitted products

• must be registered in accordance with the procedure established by the legislation of the Republic of Uzbekistan

• must have main demand deposit account in the bank

• must have no adverse loan history of the Borrower/Co-borrower/Guarantor

• must have no overdue loan liabilities

• must have relevant permits and licenses for the activities being carried out, in case if the Borrower's activities are subject to licensing

• must fulfill other requirements to the potential Borrower/Co-borrower/Guarantor, collateral security and conditions for obtaining loans shall be regulated by the Bank's Credit Policy and other local regulations of the Bank

Opened financing procedure:

Financing shall be opened upon approval of the Borrower's application by the Fund for Supporting Exports under Export Promotion Agency and submission of a duly executed and insured collateral security to the Bank

List of documents to be submitted by the Borrower:

• Loan Application Form contained all loan terms and collateral security

• Borrower's certificate of state registration

• copy of the Company’s Charter and constitution documents with all amendments

• copy of documents confirming the right of a person to sign a loan agreement on behalf of the borrower, in case the person is an authorized representative of the borrower, with specimen signatures.

• financial statements including the balance sheet and profit and loss statement on the first date of the current month;

• resolution of the Borrower/Co-borrower's authorized body on attraction of the required loan amount under appropriate conditions with provision of loan collateral security

• business plan indicating the forecast of cash receipts to the borrower's bank account (cash flow)

• in case of available accounts in other banks, certificate of absence/presence of the borrower's debts according to Bank File №2, loans, leasing, letters of credit, and information on turnovers within the last 12 months in the form of a letter issued by the servicing bankwith an electronic version of transcript

• contracts to be paid under the requested loa

• documents on the provided collateral security

Loan purpose:

Financing of major investment projects for production of fabrics, carpets, ready-made garment and knitted products, dyeing and finishing

Loan source:

Resources of the Find for Reconstruction and Development

Loan currency:

USD

Maximum loan amount:

shall be determined based on the needs of the event being credited

Loan term:

up to 120 months, depending on the payback period of the project

Grace period for principal loan amount payment:

up to 36 months, depending on the payback period of the project

Interest rate:

annual interest rate of 5% within the grace period, and

annual interest rate of 6% for the remaining period;

In case of failure to perform export obligations by the company, the loan interest accrued during the grace period shall be recalculated at a rate of 6% per annum

Special requirements:

• commitment to provide export in the amount of 50% of the total volume of production

• explain the importance of the participation of own funds, including buildings and constructions, working capital in the amount of not less than 30%

• no overdue loan liabilities

Loan repayment:

monthly, fix or variable payments

Eligible forms of collateral security:

• collateral security of freely convertible and national currencies held in accounts opened with the bank

• collateral security of movable/ immovable property

• collateral security of real property rights

• other forms of collateral security not prohibited by applicable law

Percentage of collateral security:

At least 125% of loan amount

Mandatory requirements for Borrowers:

• must be registered in accordance with the procedure established by the legislation of the Republic of Uzbekistan

• must have main demand deposit account in the bank

• must have no adverse loan history of the Borrower/Co-borrower/Guarantor;

• must have no overdue debts on loan obligations

• must have sufficient amount of the Borrower/Co-borrower/Guarantor's current cash flow for timely loan servicing

• must have liquid funds of the Borrower/Co-borrower/Guarantor and not unprofitable operation activities

• must have relevant permits and licenses for the activities being carried out, in case if the Borrower's activities are subject to licensing;

• must fulfill other requirements to the potential Borrower/Co-borrower/Guarantor, collateral security and conditions for obtaining loans shall be regulated by the Bank's Credit Policy and other local regulations of the Bank

Opened financing procedure:

Financing shall be opened upon approval of the Borrower's application by the Fund for Reconstruction and Development, and submission of a duly executed and insured collateral security to the Bank

List of documents to be submitted by the Borrower:

• Loan application form contained all loan terms and collateral security

• Borrower's certificate of state registration

• Copy of the Company’s Charter and constitution documents with all amendments;

• copy of documents confirming the right of a person to sign a loan agreement on behalf of the borrower, in case the person is an authorized representative of the borrower, with specimen signatures

• financial statements including the balance sheet and profit and loss statement on the first date of the current month

• resolution of the Borrower/Co-borrower's authorized body on attraction of the required loan amount under appropriate conditions with provision of loan collateral security

• project feasibility study indicating the forecast of cash receipts to the borrower's bank account (cash flow)

• in case of available accounts in other banks, certificate of absence/presence of the borrower's debts according to Bank File №2, loans, leasing, letters of credit, and information on turnovers within the last 12 months in the form of a letter issued by the servicing bank with an electronic version of transcript

• contracts to be paid under the requested loan;

• verification of contract price

• documents on the provided collateral security