Bigbank raised its corporate loan limit to 30 million euros
In order to increase its corporate loans market share, Bigbank now provides loans of up to 30 million euros to corporate customers, up from the previous limit of ten million euros. The bank is also open to financing businesses in the fields of tourism, restauration and hospitality.
According to Ingo Põder, Head of Corporate Banking at Bigbank, Bigbank has lowered the interest rates on loans offered to companies and extended its payment schedules to 30 years. "Going forward, our standard loan limit per customer is up to 30 million euros. However, we are also able to offer larger loans, considering the volume of own resources. Bigbank's capitalization is strong and during the previous quarters we have approved or issued several loans of ten million euros and one loan of 18 million euros," said Põder.
"Bigbank focuses heavily on agricultural and forestry companies, which in our opinion carry a standard level of risk, but which are frequently turned down by other banks," Põder added, emphasizing that no sector is excluded from consideration. "Successful companies can be found in every market sector. We carry out a thorough review of each application and we are also ready to finance, for example, tourism, restauration and hospitality businesses," Põder stated.
"Large loan applications are generally backed by thoroughly prepared plans. We come back with an indicative offer within three days and, as a rule, they are very likely to receive funding from us," Põder described Bigbank's new strategy.
Bigbank issues loans of up to 30 million euros in all Baltic countries.
Mainly known as a private loan provider to date, Bigbank has increased its market share in the field of corporate financing: compared to the same period last year, the volume of new loans granted to companies by Bigbank increased by 112.5 percent in the first half of the year.