Flexicredit

How does it work?

1. You borrow for a fixed term reflecting the economic lifetime of the financed good: between 1 and 20 years (including withdrawal period). 
2. The minimum amount is 100,000 EUR. There is no maximum.
3. Depending on your needs, you draw down the loan in tranches over a maximum of three years.
4. The interest rate (based on the division ‘actual number of days/360’)  is variable and is based on 1, 3, 6 or 12-month Euribor, plus a contractual margin.
5. You can repay the principal in equal instalments (monthly, quarterly, half-yearly or annually) as you prefer. You can also choose only to pay the interest during the term of the loan and to redeem the principal at maturity. Your preferred conditions are set out in a repayment schedule drawn up in advance. 

Advantages

• Made to measure: you decide the term, the amount and the frequency of the principal and interest repayments.
• Flexible: you can adjust the repayment frequency and also convert your Flexicredit into a traditional fixed-rate investment loan.
• Economical: you benefit from finance at short-term rates lower than or equal to 1-year Euribor plus a contractual margin.
• Transparency: you have a clear idea of the evolution of your loan thanks to the repayment schedule fixed in advance according to your wishes. 

Good to know

• In addition to the cost of the credit, you need to take account of an arrangement and management fee, a fee on capital not drawn down and default interest in case of default payment.
• The characteristic flexibility of this credit formula is reflected in the risk of fluctuating interest rates.
• You can repay all or part of your Flexicredit early in accordance with the SME Act of 21/12/2013 (modified on 21/12/2017) on the financing of small and medium-sized enterprises. The early repayment penalty varies according to the amount of the original credit:
  • Credit under 2 million EUR: the early repayment penalty is equal to six months of interest;
  • Credit over 2 million EUR: the prepayment penalty is based on the transparent framework of the code of conduct, drawn up in accordance with the SME Act.

• Any complaints concerning Flexicredit may be addressed to:
  • BNP Paribas Fortis NV/SA – Complaints Department (1QA8D)
    Montagne du Parc/Warandeberg 3
    1000 Brussels
  • Consumer Mediation Service
    Rue Belliardstraat 15–17, Box 8
    1040 Brussels
    E-mail: ombudsman@ombudsfin.be
    Tel.: +32 2 545 77 70

  Or

  • Sowalfin (if you live in Wallonia)
    E-mail : info@sowalfin.be
    Tel. : + 32 4 237 07 70
  • Agentschap Ondernemen (if you live in Flanders)
    E-mail: kredietbemiddelaar@agentschapondernemen.be
    Tel. : 0800 20 555  
  • Regional Investment Company (if you live in Brussels)
    E-mail : info@srib.be
    Tel. : + 32 2 548 22 11

Useful link(s)

• Infos sur le financement des entreprises / Info over financiering van ondernemingen
• Possibilité de combiner le Flexicrédit avec des aides publiques / Mogelijkheid tot combinatie met overheidssteun
• Infos sur les sûretés / Info over zekerheden
• Comparative table between Investment Loan, Instalment Loan and Flexicredit

Lender: BNP Paribas Fortis SA/NV, Montagne du Parc 3, B-1000 Brussels – Brussels Register of Companies – VAT BE 0403.199.702. Subject to approval of your application. The information provided to you is for information purposes only and is neither an offer of credit nor a promissory note. It is being provided to you as a basis for further discussion. The Bank may change the information contained on its website without any prior notice and is under no obligation to inform (potential) customers about any such change.