Loan amount for hotels:
- 200,000-5,000,000 GEL (for internationally branded hotels);
- 200,000-2,000,000 GEL (for hotels that are not internationally branded).
Loan amount fo wellness and spa resorts:
- 200,000-6,000,000 GEL (for internationally branded resorts);
- 200,000-3,000,000 GEL (for resorts that are not internationally branded).
*The business must be located on a plot of land owned by the borrower.
The loan can be used to:
- Build a hotel;
- Expand or renovate a hotel;
- Cover the necessary capital expenditure;
- Consolidate debt.
*100% of the loan amount must be used for buying capital assets.
Earmarked funding
The state will fund 7% interest on GEL loans in the first two years.
CREDIT AMOUNT |
<=10 000 000 |
Tenor |
<=120 months |
Type of Interest Rate |
Indexed, Fixed+ indexed |
Interest Rate |
From 11% |
Effective Interest Rate |
From 13% |
Disbursement Fee |
0.2% |
Account Opening Fee |
From 10 GEL |
Withdrawal fee |
From 0.2% |
Credit Info Fee |
No more than GEL 12 |
Fixed Late Payment Penalty |
One-time payment of no more than 20 GEL (equivalent in loan currency) |
Daily Late Payment Penalty |
0.1% per day overdue. Furthermore, the total amount of expenses incurred from the first day overdue until full settlement of the overdue liability should not exceed 1.5x of the current principal balance. |
Early Repayment / External refinancing Fee |
If repaid with own funds: 0% If refinanced from another bank: In the case of a fiixed rate: No more than 0% of the prepaid amount (the amount paid to settle the outstanding principal balance at the time of prepayment) if 0 to 6 months remain before the maturity of the agreement; No more than 0.5% of the prepaid amount (the amount paid to settle the outstanding principal balance at the time of prepayment) if 6 to 12 months remain before the maturity of the agreement; No more than 1% of the prepaid amount (the amount paid to settle the outstanding principal balance at the time of prepayment) if 12 to 24 months remain before the maturity of the agreement; No more than 2% of the prepaid amount (the amount paid to settle the outstanding principal balance at the time of prepayment) if more that 24 months remain before the maturity of the agreement. In the case of an indexed rate: 0% of less than 6 months remains before credit maturity; 0.5% if more than 6 months remain before credit maturity; |
RE Mortgage Registration Fee |
Per unit 56 GEL; |
RE Mortgage Registration Cancellation Fee |
Per unit 51 GEL; |
Movable Property Pledge Registration Fee |
Per unit 174 GEL; |
Movable Property Pledge Registration Cancellation Fee |
Per unit 20 GEL; |