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   Working capital financing
Unsecured overdraft facility
Overdraft is the fastest and easiest way to balance out the company’s cash flow and replenish its current assets in the short term. This allows increasing the amount of funds available on the company’s settlement account within the set limit for execution of extraordinary transactions.
The overdraft limit is determined based on the analysis of the financial state of a company and cash turnover on the company’s settlement account.
Overdraft may be granted to:
  • customers which have used Norvik Banka’s settlement account actively and regularly for their settlements for at least 6 months;
  • customers which have no tax debts to the budget of their resident country;
  • customers whose specific weight of own funds in the balance sheet is no less than 20%;
  • companies the liquidity ratio of which is no less than 1;
  • companies conducting active business activity and having positive credit history.
Overdraft terms:
  • currency – EUR (for LR residents); EUR, USD (for non-residents);
  • term – from 6 to 12 months;
  • minimum overdraft limit: for LR residents – 3 000 EUR, for non-residents – 10 000 EUR or 15 000 USD;
  • maximum overdraft limit: for LR residents – 50 000 EUR, for non-residents – 50 000 EUR or 65 000 USD but not exceeding 30% of the customer’s turnover on its settlement account within a month;
  • interest rate is being set for each customer individually.
To apply for the overdraft, the following documents are required:
  1. completed Application for Overdraft Facility for Legal Persons;
  2. legal documents:
    • registration certificate;
    • company’s articles of association;
    • copies of the owners’ passports.
  3. financial documents:
    • certificate of no outstanding tax liability from the State Revenue Service (issued no more than a month ago);
    • financial statement for the last year with a note by the State Revenue Service (with a breakdown);
    • operating balance sheet account for the current period (with a breakdown);
    • operating profit and loss calculation for the current period (with a breakdown).
  4. other documents upon the Bank’s request.
For more information on the overdraft facility and other lending products please contact the Bank’s specialists by phone: +371 67041100