You can use an instalment loan to finance the medium or long-term purchase or replacement of fixed assets, such as land, buildings, machines and vehicles. A loan like this can also cover a temporary shortfall in working capital. You enjoy a fixed interest rate throughout the term of the loan.
How does it work?
- The term is a minimum of six months. The maximum term is set according to the level of the loan:
- less than 6,200 euros: 42 months;
- 6,200 to 10,000 euros: 54 months;
- over 10,000 euros: 120 months.
- Equal instalments (principal and interest);
- Equal principal instalments with separate payment of the interest.
- Made to measure: the term of the loan is based on the amount of your investment and you choose the repayment conditions from among several possibilities.
- Simplicity: the formalities are straightforward and transparent.
Good to know
- In addition to the cost of the loan, you need to take account of an arrangement fee.
- When funding fixed assets, the maximum amount financed may not exceed the invoice total, excluding VAT.
- You can repay all or part of your Instalment Loan early in accordance with the SME Act of 21/12/2013 on the financing of small and medium-sized enterprises. The early repayment penalty varies according to the amount of the original loan:
- loans under 1 million euros: the early repayment penalty is equal to six months of interest;
- loans over 1 million euros: 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 the Instalment Loan may be addressed to:
- BNP Paribas Fortis NV/SA – Complaints Department (1QA8D)
Montagne du Parc/Warandeberg 3
- Consumer Mediation Service
Rue Belliardstraat 15–17, Box 8
Tel.: +32 2 545 77 70