Flexible loan for your business expansion

Quick approval
Flexible payment schedule
Funding for multiple needs
Personalized and tailored service

General information

Every business is unique, and we tailor our approach to meet your specific needs.

Whether you’re expanding operations, investing in new projects, or managing cash flow, a business loan from Finora Bank can help you achieve your goals with financing you need.

Benefits:

Flexible payment schedule;
Fast decision-making process;
Personalized service, tailored to you;
Funding for multiple needs:

managing operational expenses;
scaling up with seasonal hires;
repairing or upgrading critical equipment;
boosting your cash flow;
gaining immediate access to working capital.

Price list and terms

LOAN AMOUNT:

from €20,000,

REPAYMENT PERIOD:

up to 10 years

INTEREST:

from 6%

COLLATERAL:

real estate collateral or short-term asset pledges

* Real estate located in Estonia is accepted as collateral: apartment, private house, part of a house, commercial property or a plot of land.

The process

STEP 1

Fill the application

STEP 2

Submit the documents

The latest annual report, balance sheet and income statement (not older than 6 months), appraisal report or photos of collateral, its exact address, and account statements for the past 6 months.

STEP 3

Loan decision

STEP 4

Signing an agreement

We will send you the loan and surety agreement for digital signature. For the initial agreement, you will be video-identified online, and after the mortgage is established by a notarial act, the loan will be paid out immediately.

Frequently Asked Questions

What documents should a loan applicant submit?

To apply for a loan, the following documents are required:
• Loan application,
• Appraisal report or the exact address and photos of the collateral,
• The latest annual report, balance sheet, and income statement (not older than 6 months),
• Bank account statements of the applicant and the surety for the past 6 months with digital confirmation from the bank.

What costs are involved in concluding a loan agreement, apart from the agreement fee?

A notary fee and state fee are payable when concluding an agreement (the amount depends on the price list of the respective service provider and the fees stipulated by the state). Insurance costs for the property (private house, apartment, commercial property) are also added.

How long is the loan period for a mortgage?

The maximum loan period for a mortgage loan is 10 years.

Is it possible to repay the loan amount early?

Yes, according to the terms of the loan agreement, the loan amount can be repaid at any time, in parts or in full. If you notify us 3 months in advance of your wish to repay the loan, there is no fee for early repayment. If you want to repay the loan before the 3-month notice period, the early repayment fee is usually equal to 3 months of loan interest. Flexible repayment terms can be agreed upon at the time of concluding the loan agreement.

What can be used as loan collateral?

A mortgage loan can be backed by real estate, i.e. an apartment, private house or land. We usually issue a loan in the amount of 50% to 75% of the value of the collateral. We also accept surety by a management board member as an additional collateral.

Can the loan period be extended?

Yes, it is possible to extend the mortgage loan period. A free-form application should be submitted to do that.

Can a company with payment defaults apply for a loan?

As a rule, no. However, each case is different, so we always listen and analyse each project individually.

What happens if the company is unable to repay the loan on time?

In such case, you should contact your loan manager. This must be done before the loan repayment date, so that we can review the terms of the agreement and extend the loan period or agree on a grace period.

How can a loan agreement be signed?

We will send you a pre-filled loan agreement, which we ask the legal representative to digitally sign and then return.

How long does it take to get a loan?

We can give our first feedback in 1-2 days after customer has submitted the documents. After the notarial transaction, we can disburse the loan within 1 to 3 working days; we usually disburse the loan on the same day as the visit to the notary.