How can you reimburse your loan installments?

For more information about installments reimbursement access Reimbursement methods.

How the loans can be granted?

You need to have a current account opened at any bank from Romania, our recommendations is open a current account at BCR because of their fastness, or the payment can be done directly in the current account of your suppliers based on the pro-forma invoice.

What is good.bee Credit?

We are a non-banking financial institution that offers micro-loans for running and extending businesses. gbC is not a bank, therefore its field of activity consists only of granting loans; it cannot perform the specific operations of a traditional bank, such as: opening accounts, issuing cards, creating bank deposits.

What type of loans does good.bee Credit offer?

We offer loans for:

  • working capital, meant to support the daily development of the economic activity;
  • investment loans, meant for the development of your business;
  • refinancing loans – taking over loans from other entities in favourable conditions for clients.

Thus, gbC loans are not meant to be used for personal needs or consumption purpose, but only for activities that generate profit.

Who can receive a good.bee loan?

We reach out to entrepreneurs from rural and urban areas that carry out income-generating activities. Among our clients are large and small farmers, certified natural persons, individual enterprises and family enterprises or limited liability companies.

How can I access a good.bee loan?

Accessing a gbC loan is easy and quick. If you are interested in a gbC loan, you may contact one of our loan consultants from the nearest office to the location where you carry out your activity (here is the list with our branches in Romania), and they will visit you to collect your application and the necessary information. Following the evaluation based on the gbC methodology, they will establish your eligibility and fill out the necessary documents.

What does the flexibility that defines the micro-loans granted by good.bee Credit refer to?

Our flexibility is reflected in the grace period and the repayment schedule. These are established from the beginning of our discussions with the client, by taking into consideration the type of business, the specific seasonality of the business, the client’s income, the value of the loans etc., in order to create a real scenario for the client and avoid difficulties in the future. The repayment instalments may be adjusted, according to the client’s cash flow. In addition, our flexibility offers you the possibility to reimburse in advance the loan.

The consultancy services offered by GBC when granting the micro-loans, are considered a separate that require extra costs?

The consultancy services offered to our clients when granting the loan but also during the collaboration are free of charge and represent support services for granting the loan. Being guided by ethical principles, we get involved in consultancy because we wish to support our clients and guide them in taking informed, safe and prudent decisions. Therefore we help them take their first steps in their financial education, by explaining them the specific terms and procedures in the financial field. We also support our clients in drafting a business plan and in performing an economic and financial analysis of their initiatives.

What types of guarantees are usually offered/accepted? For example, are agricultural lands/plantations accepted?

gbC’s flexibility is reflected in our requirements for guarantees. These are established according to the specific of each activity, thus we accept as guarantee all assets used in the economic activity or personal assets of entrepreneurs/administrators/shareholders.

Our vast experience taught us that, in micro-financing, the moral value of the guarantees often exceeds the material value. That is why we accept as guarantee: livestock, machinery and agricultural lands, farms or houses from the rural area (the immovable properties need cadastre and tabulation).

What does “grace period of maximum nine months p.a.” mean precisely?

In the grace period the client does not pay anything.

We know how important the grace period is for most of our clients from the rural area. We give utmost importance to the grace period because seasonality has a great influence on our clients’ activities and incomes. Clients that require a grace period may ask for it from our loan consultant at the time of establishing the loan conditions and may benefit from it for maximum nine months a year. This is granted according to the particulars of the activity and the moment when financing is granted.

Is the interest charged for the loans from good.bee Credit fixed or variable?

The interest can be variable considering the relatively long periods for loans granted and may be changed only if there are major changes to the financing costs. Nevertheless, due to our wish to support our clients, we make efforts not to change the interest during the execution of the financing agreement. We understand the problems that can be caused by such changes and we do not wish to aggravate the situation for our clients.

Do you also grant loans in Euros, US Dollars, or any other foreign currency, or only in lei?

We grant loans exclusively in lei, the main reason for this decision is also related to our concern for our clients. Most of our clients carry out activities in the rural and small-urban areas and obtain incomes in lei. Thus, an unstable exchange rate in the case of a loan execution in foreign currency would mean undertaking an additional loan risk.

Is business insurance mandatory?

In order to simplify the granting of loans, to make them more accessible to a larger number of clients and not to increase the total financing costs, we do not require such insurances from our clients. However, we do inform them of the role and utility of insurances.  

There are cases where we can require our clients to insure some assets presented as guarantee, without imposing a certain insurance company.

How do you perform the evaluation of a loan application, what information is considered?

We evaluate the loan applications from our clients according to a clearly established methodology, taking into consideration several factors that contribute to the client’s eligibility. We analyse the experience and the involvement in the business, the viability of the activity proposed for financing, etc.

The solid analysis is also justified by our concern for our clients: as we do not wish to determinate our clients to assume duties and responsibilities beyond their capacity and thus making the performance of their activities more difficult. The main purpose of a loan is to support the development of the business, and not to throw obstacles in the way. That is why we perform a solid, yet fast analysis of any loan application on the basis of complete and accurate information supplied by the applicant, the latter being fully informed of this aspect.

In the case of our current clients that apply for new loans, the procedure is even simpler as we already have a part of the answers to the questions we are interested in (the business, the target market, the loan history, etc.).