Favourable loans for women entrepreneurs in Vojvodina

Banca Intesa Beograd and Panonska banka Novi Sad, signed with the Guarantee Fund of AP Vojvodina an Agreement on the long-term financing of START UP projects of unemployed women and projects related to the purchase of equipment for women entrepreneurs with the length of service up to three years, on the territory of Srem and Bačka, whereby the cooperation has been expanded to entire Vojvodina. Thanks to the mutual aim directed to the development of small business, Banca Intesa and Guarantee Fund of AP Vojvodina in November 2006 started with realization of the first project of this kind in the country, so that the women entrepreneurs would have a possibility to obtain loans on extremely favourable conditions for initiation and development of their own business. Pilot phase of the project, which was limited only on the territory of Banat, demonstrated that the women are interested, willing and full of initiative as far as dealing with entrepreneurship is concerned. This is also confirmed by the number of 25 approved loans in the amount of 31 million RSD, whereby it is interesting that almost all loans have been approved for the purpose of financing initiation of proper business. Apart from the current 50 million RSD, for the purpose of crediting female entrepreneurship in Vojvodina Banca Intesa earmarked also additional funds in the amount of 100 million RSD. Long-term loans are approved in the amount of 2 million RSD, for the tenor of 6 years, whereby a possibility for using grace period is up to 12 months. Thanks to the support of the Guarantee Fund of Vojvodina, which with its guarantee potential provides an adequate risk protection, these loans are approved on considerably more favourable conditions in comparison with the market ones, at fixed annual interest rate of 6,95% and EIR of 7,52%, along with application of FX clause.