Objective of the individual guarantee:

Support of micro, small and medium trading enterprises in Republic of North Macedonia for easy access to finance necessary for their functioning at times of economic and health crisis. 


Purpose:

Support of final beneficiaries: large exporters by securing the part of the collateral for the extended loans.


Sources of funds

Individual guarantees are part of the Guarantee Fund established with funds from the Budget of the Republic of North Macedonia, in the amount of EUR 15 million.


Final beneficiaries of the individual guarantee:

Large exporting companies (companies whose export earnings participate in at least 30% of the total income in the fiscal year preceding the year in which the guarantee is approved).


Terms and conditions of the individual guarantee:


Conditions to be met by the large exporting company for issuance of individual guarantee from the Guarantee Fund
  • to be classified in A risk category or to have no liabilities to banks in accordance with the data from the credit registry of the National Bank of Republic of North Macedonia,
  • to have an approved credit limit for insurance for the foreign buyer and a concluded insurance policy for commercial risks with DBNM,
  • the indicator for the level of financial indebtedness to be less than 3 (ratio between total liabilities on loans and credits and principal reserves). The indicator is calculated on the basis of a balance sheet database from the last fiscal year,
  • the debt ratio indicator to be less than 6 (ratio between total liabilities and principal and reserves). The indicator is calculated on the basis of balance sheet data from the last fiscal year,
  • the current liquidity ratio should be at least 0.7 (ratio between current assets and short-term liabilities). The indicator is calculated on the basis of a balance sheet database from the last fiscal year,
  • the indicator for fast liquidity to be at least 0.35 (ratio between current assets reduced for inventories and short-term liabilities). The indicator is calculated on the basis of a balance sheet database from the last fiscal year,
  • to have principal and reserves stated in the balance sheet in the financial statements for the last fiscal year in an amount of not less than 33% of the requested loan amount,
  • in the last fiscal year to have achieved a positive financial result in the income statement and
  • to have no unpaid liabilities to the state (taxes and contributions), in accordance with the certificate of paid taxes and contributions issued by the Public Revenue Office, not older than three months from the day of submitting the request for issuance of the guarantee.
Conditions referred to the loan whose amount repayment is secured by the individual guarantee
  • the minimum amount of the approved loan should not be below MKD 3,075,000, and the maximum amount of the approved loan should not be more than MKD 30,000,000, whereby the amount of the guarantee may be up to 15% of the total revenues of the company in the last fiscal year.
  • the loan should not be intended for the purchase of fixed assets and working capital for projects that: are intended for production and distribution of weapons and military equipment, for production of tobacco and tobacco products, drugs and other narcotics, include experiments on live animals, pollute the environment and nature, are related to real estate, are related to games of chance and are related to financial activities,
  • to have collateral, a bill of exchange with an enforcement clause validated by the owners who have at least 5% of the basic capital of the guarantee beneficiary with a bill of exchange statement, which regulates the rights and obligations on the basis of the bill of exchange in the form of an enforcement document and a commercial risk insurance policy with restriction of transferability.
Maximum % of guarantee by individual guarantee

 up to 50% of the loan

Who can submit the guarantee request to DBNM

 Large exporting company

What is guaranteed by guarantees from Guarantee fund

 Principal (the initial size of a loan)

Credit and Guarantee Division contact:

Tel.: 02/3115-844, 02/3114-840 ext. 255, 169.