The enterprises apply for a NGF guarantee, and a bank loan simultaneously.
General Scheme of the approval process and the issue of a NGF guarantee
Stage 1- Applying for a guarantee
Stage 2- Management
After the NGF is convinced that the guarantee request fulfils the main criteria, the guarantee is approved and the guarantee document for the bank- beneficiary is signed, and this procedure takes up to 5 (five) business days.
The NGF may examine the guarantee requests in order to make sure that:
- The preliminary announced project goals are in conformity with the loan;
- An adequate assessment of the business plan and of the status of the borrower has been made by the bank;
- The extent of the issued guarantee corresponds with the guarantee scheme.
The NGF reserves its right to exercise control over of randomly selected loans, including visits at the borrower’s enterprises.