Tourism and hospitality are among the fastest growing industries in Georgia. Being committed to supporting the hotel business in the country, and HORECA on the whole, TBC Bank offers simplified procedures for loan application.
The project envisages the financing of companies that plan to buy or build, renovate and furnish a hotel.
Terms and Conditions
Purpose |
purchase of land, furniture and inventory; renovation; funding a franchising agreement and other expenses. |
Term |
12 years maximum |
Grace period |
2.5 years maximum |
Payment Schedule |
Yu can choose a schedule that best suits your business interests |
A grace period refers to a period of time when construction and renovation or operation is underway. Customers may apply for funding under the Host in Georgia project. Loans up to 200,000 GEL are disbursed in national currency only.
CREDIT AMOUNT |
<=6 000 000 GEL (EQUIVALENT USD, EUR) |
Tenor |
<=120 months |
Type of Interest Rate |
Fixed, indexed |
Interest Rate |
GEL 13% USD 6.5% EUR 5.5% |
Effective Interest Rate |
GEL 16% USD 8.5% EUR 7.5% |
Disbursement Fee |
From 0.2% |
Account Opening Fee |
From 10 GEL |
Withdrawal fee |
From 0.2% |
Credit Info Fee |
Depends on credit currency, no more than: 25 GEL, 10 USD, 8 EUR |
Fixed Late Payment Penalty |
One-time payment of no more than 20 GEL (equivalent in loan currency) |
Daily Late Payment Penalty |
0.5% 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 |
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; |
* The consultations are fully funded by TBC Bank and the Asian Development Bank.
Check your eligibility
- You should have experience in tourism and hotel management or should have a team staffed with qualified employees.
- Your participation should total 40% that can be provided in any form listed below:
- Cash – savings or business earnings;
- Grant;
- Land or buildings, capital goods or other assets purchased for the project;
- Investments into building/renovation.
Types of hotels eligible for funding:
- Hotels;
- Family hotels;
- Hostels;
- Apartment hotels;
- Other types of tourist accommodation