Target group

All vulnerable persons:

• who have a micro-business and want to invest in it or persons who want to start a new business, with current employment status: employed with/without additional income, farmers and unemployed with additional personal income;

• who are not subject to any insolvency, bankruptcy or similar proceedings and do not fulfil the criteria under domestic legislation for being placed in collective insolvency, bankruptcy or similar proceedings at the request of creditors;

• who do not engage, as part of their business activities, in any activities which are against the law of the Republic of North Macedonia.

 * (a) a vulnerable person who has lost or is at risk of losing their job, or a person who has experienced difficulties in either entering or re-entering the labour market, or a person who is at risk of social exclusion or is socially excluded and, in each case, is a person who is in a disadvantaged position with regard to access to the conventional credit markets and is a person who wishes to either establish or develop their own Micro-Enterprise, including for the purposes of self-employment; or (b) is a Micro-Enterprise, either in the start-up or development phase, including a Micro-Enterprise which employs one or more persons of the kind referred to in (a) above;

Loan amount

From MKD 50,000 to 900,000 – denars

Repayment period

From 24 to 96 months

Grace period

When concluding the contract you can choose grace period of 3, 6, 12 and 18 months

Security*

• Without guarantor; and

·  With guarantor/s

·  *Depending on the amount of the approved loan and the credit history in FULM Savings House

Interest rate

Annual fixed interest rate**

Repayment

• Monthly by paying annuities (monthly instalments);

• If you choose to use the grace period, only fees and interest are paid during that period.

Fees

Fees are calculated according to FULM Savings House pricelist on the day the contract is concluded.

Minimum loan criteria

Individuals, citizens of the Republic of North Macedonia, members of FULM.

Minimum required documents when applying for a loan

• Copy of valid ID card or passport of the borrower and guarantor;
• Verified certificate for net salary of the borrower and/or guarantors;
• completely filled in loan application forms

Advantages

·     Payment in cash or on a payment account (lower costs for payment on payment account);

·     No fee is charged for premature repayment of the loan;

·     Possibility for additional reduction of the principal in each period of the loan repayment;

·     Favorable conditions during anew applying for a loan.