Loans


Credits for constructions

It is an instrument intended for Cuban natural persons in national currency; it also allows the provision of cash in CUC at the current exchange rate.

The bank will make available to the client a sum for the purchase of construction materials in the commercial network, including the payment of skilled labor. The modes used are simple credit and a line of credit.

Minimum conditions::

  • Minimum amount: 1000,00 CUP.
  • Minimum monthly amount: 50,00 CUP.

Guarantees:

Other guarantees stipulated in the current legislation are accepted.

Scope:

All BANDEC branches in the national territory.

Documentation:

  • Identification document
  • Application form
  • Credit Contract
  • Documents requested to formalize the guarantee.

It is an instrument intended for Cuban natural persons in national currency.

The bank will make available to the client a sum for the purchase of cooking utensils in the local commercial network. The mode used is the line of credit.

Minimum conditions:

  • Minimum sum: 300,00 CUP.
  • Minimum monthly sum: 30,00 CUP.
  • Maximum settlement period: : 5 years (60 monthly installments)

Guarantees:

  • A joint guarantor who can cover the monthly payments is accepted for sums of less than 5,000.00 CUP.
  • Other guarantees referenced in the legislation in force are accepted.

Scope:

All BANDEC branches in the national territory.

Documentation:

  • Identification document.
  • Application form.
  • Documents requested to formalize the guarantee.

Mode:

Simple credit, line of credit and revolving line of credit.

Currency:

Cuban pesos (CUP) and Cuban convertible pesos (CUC).

Maximum term:

18 months.

Intended for:

Entities of the Central State Administration, state enterprisesand other entities linked to the Central State Budget.

Purpose:

Used to finance the current assets of productive, commercial and service entities, for production, sale and collection cycles not longer than 18 months.

Requirements:

  • Incorporation and inscription in the established registers.
  • Operate a bank account at the BANDEC branch where the request was filed.
  • Appointment and signature of the persons authorized to contract and pay debts.
  • Application form.
  • Documentation requested for risk analysis.
  • Credit agreement once it is approved.

Guarantees:

  • Banking: Letters of guarantee, contingent letter of credit.
  • Non-banking: Letters of credit or domiciled and accepted promissory notes; bills of exchange or guaranteed promissory notes; transfer of payment collection rights; solidarity guarantees; escrow accounts.

Mode:

Simple credit, line of credit and revolving line of credit.

Currency:

Cuban pesos (CUP) and Cuban convertible pesos (CUC).

Maximum term:

Up to 10 years.

Intended for:

Entities of the Central State Administration, state enterprises, incorporated enterprises, and other entities linked to the Central State Budget

Purpose:

To finance expenses associated with pre-investment studies, construction or modernization of real estate; purchase of fixed assets; expenses associated with the implementation of the project and contribution to the share capital, for the purpose of formalizing fixed assets.

Requirements:

  • Constitution and inscription in the established registers.
  • Operate a bank account at the BANDEC branch where the request was filed.
  • Appointment and signature of the persons authorized to contract and pay debts.
  • Application form.
  • Documentation requested for risk analysis.
  • Credit agreement once it is approved.

Guarantees:

  • Banking: letters of guarantee, contingent letter of credit.
  • Non-banking: Letters of credit or domiciled and accepted promissory notes; bills of exchange or guaranteed promissory notes; transfer of collection rights; joint (equal liability) guarantees; escrow account.

Mode:

Crédito simple o línea de crédito.

Currency:

Cuban pesos (CUP).

Maximum term:

From 3 and 10 years, according to the purpose of the credit.

Intended for: state farms, Agricultural Production Cooperatives (CPA in spanish), Basic Units for Cooperative Production (UBPC in spanish), Credit and Service Cooperatives (CCS in spanish), Individual farmers, land usufructuaries and other agricultural producers.

Purpose:

  • Promote, renew or complete the planting of permanent crops (with the exception of forestry). Covers all expenses until the plantation has been established, including cultural services until the first marketable production is obtained. Maximum term: 4 to 10 years, depending on the crop.
  • Forestry plantations: Covers all slash-and-burn practices and land conditioning costs, including expenses for preparing the land, filling bags with soil for seed planting or purchasing seedlings, planting and other silviculture procedures, until the plantation is established. Maximum term: 3 to 7 years.
  • Land conditioning. Covers bulldozing, brush clearing, use of anti-erosive measures, including filling, application of organic fertilizers, liming and other procedures, provided they are not applied annually. Maximum term: 5 years.
  • Procurement of machinery, agricultural equipment, resources and working animals. Covers procurement, handling and transportation costs to the production unit, and when appropriate, installation and assembly costs. Maximum term: from 5 to 10 years.
  • Construction of drying courts, curing houses, tobacco drying houses, fences and other rural constructions. Covers the costs of construction materials and / or payment salaries of the builders. Maximum term: from 5 to 10 years.
  • Purchase of breeding stock and dairy cattle. It also covers procurement costs, including handling and transportation of the animals to the production unit. It also includes expenses in livestock rearing during the years of grace. Maximum term: between 5 and 10 years.
  • Capital repairs of tangible fixed assets. It covers the costs of repairs carried out by the production unit or those paid to the entity providing these services. Maximum term: between 5 and 10 years.

Requirements:

  • Inscription in the state registers according to the form of production.
  • Certification of legal land tenure.
  • Insurance policy or the application for it.
  • Bank account at the BANDEC branch where the request was filed.
  • Appointment and signature of the persons authorized to contract and pay debts.
  • Application form.

Guarantee:

  • Agricultural insurance.
  • Joint guarantors.
  • Pledge of accounts.
  • Contract assets (jewelry, motor vehicles, livestock, tractors and harvest machines).
  • Immovable property mortgages (summer homes and vacant lots).

Mode:

Simple credit or line of credit.

Currency:

Cuban pesos (CUP).

Maximum term:

18 months.

Intended for: State farms, Agricultural Production Cooperatives (CPA), Basic Units for Cooperative Production (UBPC), Credit and Service Cooperatives (CCS), individual farmers, land beneficiaries and other agricultural producers.

Purpose:

  • Temporary crop productions (production cycles of less than 18 months). Covers the entire production cycle.
  • Permanent plantations (production cycle of more than 18 months). Covers agricultural cultivation expenses up to the second year, depending on the crop. It also includes harvesting, processing and storage expenses.
  • Livestock production. Covers expenses for the purchase of cattle, including herd rearing and management.
  • On-farm consumption. Covers the entire short cycle crops production cycle.
  • Production of seedlings.
  • Protected, semi-protected, organoponics and intensive vegetable gardens.
  • Marketing expenses.
  • Cleaning and packing selected crops
  • Production of fresh vegetables and condiments.

Requirements:

  • Registration in the state registers according to the production method.
  • Certification of legal land tenure.
  • Insurance policy or the application for it.
  • Bank account at the BANDEC branch where the request was filed.
  • Appointment and signature of the persons authorized to contract and pay debts.
  • Application form

Guarantee:

  • Agricultural insurance..
  • Joint guarantors.
  • Pledge of accounts.
  • Contract assets (jewelry, motor vehicles, cattle, tractors and harvesters).
  • Immovable property mortgages (summer homes and vacant lots).
Credits to CNA for Initial Working Capital.

Credits to CNA for Initial Working Capital.

  • Credits can be requested in both currencies..
  • Used for paying suppliers, procurement of supplies and other expenses related to the initial productive cycles.
  • Maximum settlement period: 12 months.
  • Mode: Line of credit.

Guarantees:

  • Joint guarantors.
  • Pledged accounts.
  • Contract assets (jewelry, motor vehicles, cattle, tractors and harvesters). pending
  • Immovable property mortgages (summer homes and vacant lots).

Requirements:

  • Presentation of the basic documentation of the Non-Agricultural Cooperative.
  • Presentation of documents for credit analysis.
  • Credit agreement.
Credits to CNA for Investments.

Credits to CNA for Investments.

  • Credits can be requested in both currencies..
  • Preferential rates of interest are applied during the first two years after establishment of the cooperative, as of the date of its inscription in the Commercial Registry.
  • Intended for the procurement of equipment and for the construction or upgrading of properties.
  • Maximum settlement period: 10 years.

Guarantees:

  • Joint guarantors..
  • Pledged accounts.
  • Contract assets (jewelry, motor vehicles, cattle, tractors and harvesters).
  • Immovable property mortgages (summer homes and vacant lots).

Requirements:

  • Presentation of basic documents of the Non-Agricultural Cooperatives.
  • Presentation of documents for credit analysis.
  • Credit agreements.
Working Capital Credits for TCP.

Mode:

Simple Credit (funding delivered only once), or Line of Credit (funding with a maximum limit to be used by clients according to their requirements).

Currency:

Cuban pesos (CUP).

Maximum Term:

18 months.

Intended for:

Self-employed Workers and other forms of Non-State Businesses.

Purpose:

  • To purchase goods and supplies.
  • To purchase equipment.
  • To pay for raw materials.
  • To pay for water, electricity and gas.

Requirements:

  • Permanent identity document (identity card).
  • Official document authorizing self-employment or another type of non-state business..
  • Operating a current account at the BANDEC branch where the funding is requested, within the municipality of your legal residence.
  • Have no debits overdue, or debts from a previous credit at another BANDEC branch or financial institution of the system, associated to your self-employment activity.
  • Additional documents requested by the bank, demonstrating the capability the borrower to carry out the activity it wishes to finance, including the payment capacity of the borrower.
  • Authorization from MINSAP whenever required for the activity.

Guarantees:

  • Transfer of rights over current and future incomes.
  • Transfer of certificates and fixed-term or savings accounts.
  • Joint guarantors
  • .
  • Contract assets (jewelry, patrimonial assets, motor vehicle, cattle).
  • Immovable property mortgages (rest houses or summer homes, vacant lots).
Investment Credits for TCP.

Mode:

Simple Credit, or Line of Credit..

Currency:

Cuban pesos (CUP)..

Maximum term:

10 años.

Intended for:

Self-employed Workers and other forms of Non-State Businesses.

Purpose:

  • Expenses associated with the construction, remodeling or modernizing facilities.
  • Equipment procurement.

Requirements:

  • Permanent identity document (identity card).
  • Official document authorizing self-employment or another type of non-state activity.
  • Operate a current account at the BANDEC branch where the funding is requested, within the municipality of the applicant’s legal residence.
  • Have no debits overdue, or debts from a previous credit at another banking branch or financial institution of the system, associated to the applicant’s self-employment activity.
  • Additional documentation requested by the bank, demonstrating the ability of the borrower to carry out the activity they wish to fund, and the borrower´s payment capacity.
  • Authorization from MINSAP whenever required for the activity.

Guarantees:

  • Transfer of rights over current and future incomes
  • Transfer of certificates and fixed-term or savings accounts.
  • Joint guarantors.
  • Contract assets (jewelry, patrimonial assets, motor vehicles, cattle).
  • Immovable property mortgages (rest houses or summer homes, vacant lots).