Lease of agricultural machinery /Agro/

Advantages

• Possible provision of a lease schedule with seasonal lease instalments;
• Attractive low deposit;
• Competitive interest rate;
• Minimum one-off service fee;
• Possibility for a lease period, longer than the standard five-year period.

Conditions

• Lease financing type: open-end or closed-end financial lease;
• Lessees: Farmers and legal entities;
• Assets to be financed: new and used agricultural /up to 8 years from the manufacturing date/ and agricultural assets;
• Minimum lease price: from ЕUR 10 000 VAT excluded;
• Minimum initial installment for new assets: 5% of the lease price, in the case of VAT payable in advance;
• Interest rate: as negotiated (depending on company’s financial position);
• Financing period: up to 72 months (for new assets);
• Residual values at the end of the lease period: depending on the lease contract type /with open or closed end/ and according to the lease period;
• Currency of the financing: в EUR;
• Lease installments currency – in EUR or BGN.

Necessary documents

• Lease financing application;
• Balance sheet, income statement and tax return for the previous year, regarding the revenues and expenditures in the previous year and interim statements on the current year;
• Document, evidencing the registration of the farmer in the respective registers of the Ministry of Agriculture and Food;
• A copy of the quote by the manufacturer of the equipment - subject matter of the lease transaction;
• Certificate of the presence/absence of liabilities, issued by the revenue body as per art. 87, para. 6 of the Tax and Social Security Procedure Code;
• Copies of the ID cards of the authorized representatives of the Lessee company and the co-lessees.