For more than 10 years, Sberbank of Russia has been involved in financing long-term investment projects in all industries Russian economy, being the market leader in terms of the amount of financing provided, in terms of the degree of industry and product diversification.

The Bank has accumulated extensive experience both in terms of providing classic investment lending and project financing services, and in terms of implementing non-standard complex financial products.

The bank offers the following services for corporate clients

• Medium and long-term financing of investment projects
• Financing of mergers and acquisitions (M&A)
• Financing of leasing transactions
• Organization of placement of bonded loans
• Providing bank guarantees within funded projects
• Lending under export financing under the insurance of an export agency

Forms and conditions of lending

Lending is carried out in the form of a one-time loan or by opening a credit line both within the limits set for the enterprise and on the basis of consideration of individual investment projects.

Credit can be provided in rubles or in foreign currency for a period of up to 10-15 years under various forms of security.

With more detailed information on the financing of contracts for the import of goods and services of a capital nature at the expense of foreign banks under the cover of an export credit agency.

Today there is such a thing as an investment loan. Its essence is to borrow the necessary amount of money in order to invest in a project. This may be the opening of a factory or some enterprise.

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The process of obtaining an investment loan can hardly be called easy. The relationship between the lender and the borrower requires a certain knowledge base. Especially, it concerns the borrower.

The loan agreement concluded when obtaining an investment loan has some features that you should pay attention to.

The amounts that are available when obtaining an investment loan are far from small, and therefore the terms are correspondingly large.

The borrower must have perfect financial position, and his project must be competitive. Otherwise, the financial institution will simply refuse to issue this loan.

What it is

Investment loan is a long-term target loan, which is issued for a specific program.

This loan has the following features:

• in this situation, the bank acts as an investor, which takes on a large share of the risks;
• such a loan can only be issued to a borrower with practical experience in building a business;
• collateral for the loan must be guaranteed by the liquid probable borrower;
• With this loan, a legal entity can finance current purposes.

In most situations, an investment loan is issued for a long time, so that the organization can fully implement the planned changes and achieve the intended results.

At the same time, banking organizations often meet businessmen halfway and allow them to choose the optimal lending conditions.

It should be noted that for a banking organization this type of lending is considered risky, because in this case, the future business is financed, which relies only on prospects.

Based on this, credit institutions impose rather stringent requirements on potential borrowers, and the cost is often more expensive than with conventional lending.

To be as savvy as possible in credit and financial matters, you need to understand the basic concepts. Considering that we are talking about investment lending, we need knowledge related directly to this type of loan.

Making such a loan, one way or another, implies that the client must be literate and financially savvy. After all, to open your own business, you need the necessary baggage of economic knowledge and entrepreneurial acumen.

Key Concepts

So, the most important thing a borrower should know about is this. This term refers to the process of transferring money or other material resources for temporary use.

Participants in the process are two parties - lending (creditor) and credited (borrower, debtor).

The lending party assumes the obligation to repay the loan with the payment of interest within a clearly defined time period.

If this does not happen, the borrower is obliged to incur civil law, and in some cases criminal law.

All the rules that both parties must follow are found in the loan agreement. This document is considered fundamental in the lending process.

A loan agreement, in fact, means an agreement between the two parties, according to which the lender must lend money to the borrower in the amount and on the terms specified in the agreement, and the borrower must return the money received and interest to the bank for their use.

This loan is considered targeted and is intended for the development of the following organizations:

• medium and small businesses;
• trading companies;
• agricultural and other institutions;
• large manufacturing firms.

Also, an investment loan allows you to purchase and implement:

• commercial real estate;
• or other equipment necessary for the development of the enterprise;
• repair of office, industrial premises and laboratories;
• introduction of more modern technologies.

Also, such a loan allows you to issue loans in another financial institution. All investment loans can be divided into three types:

Investment loans are also divided into types, depending on who and for what it is provided.

Allocate bank (which in turn have one-time loans, credit lines and underwriting), government (leasing) loans and bond issues. Exactly bank loans most often issued by borrowers.

A one-time credit line implies instant crediting of the entire amount to the client, the payment of which occurs monthly annuity, in equal installments (the amount of debt and interest are paid separately) and according to an individually set loan repayment schedule.

A line of credit allows you to borrow money only when you need it (using credit card). Underwriting allows you to get the necessary amount of money through the redemption of bonds.

The legislative framework

Lending is considered one of those activities that are strictly controlled by law.

All the basic rules for conducting this financial transaction, as well as the rights and obligations of the participants in such a transaction, are spelled out in the relevant regulatory legal acts.

Some dishonest financial institutions do not adhere to the articles, thereby deceiving the borrower and requiring him to perform actions that are not provided for by law.

Civil Code Russian Federation dated November 30, 1994 is considered fundamental for lending in Russia.

All banks, microfinance companies and other credit organizations, without exception, are guided by it.

Seventeen articles of this code contain everything that plays an important role in obtaining loans, from the conditions for issuing a loan to information about liability in case of violation of the rules of the contract.

Federal laws should also not be ignored:

Federal Law "On consumer credit» No. 353-FZ dated December 21, 2013 regulates relations that arise in connection with the provision of a loan to an individual for purposes not related to the implementation of entrepreneurship, on the basis of a loan agreement.

The loan agreement consists of general and individual conditions. The agreement is drawn up in writing and contains all the terms of the loan.

How to get a bank investment loan

Not every borrower can apply to a financial institution in order to obtain an investment loan.

This is due to the fact that only an experienced person in doing business can get an investment loan. An investment loan implies a fairly large cash loan with a long repayment period.

A client wishing to receive such a loan must unquestioningly comply with the following requirements:

• be in business for at least one year;
• the organization must be located in the region where the lending institution is located;
• obligatory condition of contribution in the form of own or other or property.

At the same time, the borrower must be an adult citizen of the Russian Federation, have a stable source of income and a clean credit history.

A distinctive feature of investment lending is the verification of not only the client himself, but also his project, in which he wants to invest money. First of all, its competitiveness is evaluated.

Different financial institutions issue investment loans on terms that differ from each other. But it is possible to form general terms and Conditions issuance of such loans.

General conditions for issuing investment loans:

The correctness of the contract

Drawing up an agreement when receiving an investment loan differs from a loan agreement concluded when receiving any other loan.

This is due to the fact that this type of lending includes many complexities that need to be paid special attention to.

The agreement signed by the participants in the process must necessarily consist of clauses on the provision of a loan, on the deduction of interest for the use of a loan product and on the loan period.

Also, it must contain information on the options and terms of payment, on the conditions for the implementation of the contract, on the responsibility of the parties, on documents confirming the pledge, and.

Violation of such an agreement, as well as a standard loan agreement, threatens with serious consequences for both parties. Therefore, it is necessary to closely monitor the fulfillment of credit conditions, in particular the repayment periods.

Required documents for the borrower

The requirements for the package of documents for obtaining an investment loan are also much stricter than when applying for standard loan. It is very important to provide not only the necessary paperwork, but also a properly developed business plan.

It must be competitive this project. Many banks make decisions based specifically on.

But this does not mean at all that a business plan is the only document that must be presented to a financial institution.

You must also provide for an investment loan indicating:

• the amount of the loan;
• certificate of registered company;
• accounting report on the activities of the company for the last time;
• photocopies of passports of the borrower and all those involved in the project (in particular, the chief accountant);
• a paper confirming the right to conduct business;
• founding documents.

Some banking institutions may ask for additional papers at their discretion.

Evgeny Malyar

bsadsensedynamick

# Business loans

Investment loan: risks and rewards

Since the basis for issuing a loan is a business project, the bank actually shares potential risks with the borrower.

Article navigation

• Three types of investment loans
• expansionary
• Project
• Building
• Requirements for an applicant for an investment loan
• Forms of investment lending
• Calculation of project profitability, payback period and investment loan parameters
• Simplified calculation example
• Conclusion

Probably every business owner has ideas about how to increase profits. The implementation of a large-scale project requires investment. The most common solution to this problem involves external lending. Investment loans pursue the main goal - bringing the enterprise to a new level of development. An article about their essence, features, shortcomings, who can access a loan for investment purposes and how to get it.

Three types of investment loans

An investment loan is special kind banking product, characterized in that the person applying for it has a well-developed project for the use of borrowed funds.

An investment loan has special features:

• Long term repayment. For the most part, investments do not imply instant returns. For the full implementation of a strategic project, a certain time is required, which is reflected in the business plan (project).
• Target orientation. Investment involves the investment of capital in a specific project that requires financing. This type of allocation of funds involves not only the expansion of activities, but also its qualitative change for the better.
• Scale. It is impossible to get a bank loan for a small amount, justifying the need for it with investment considerations.

The project should include three main sections:

• analysis of current financial condition an enterprise applying for investment lending;
• the essence of the project (its economic meaning);
• calculation of the predicted profitability after the implementation of the investment project.

Based on character intended use loan, its belonging to one of three main types is determined.

expansionary

Designed to expand the scale of an existing enterprise. Tasks solved by the company with the help of an expansionary investment loan:

• opening of new branches;
• purchase of additional technological equipment;
• modernization of fixed assets;
• other similar purposes.

The peculiarity of its receipt is that until the debt is paid off, the effect of improving the financial performance of the enterprise should not be calculated. All the additional profit brought by modernization (and in some cases a large amount) will go to settlements with the bank.

When applying for an expansion loan, forecasts are based on the most pessimistic scenarios for the development of further events. Ultimately, only the bankruptcy of an enterprise can hinder the fulfillment of the payment schedule. If it is assessed as probable, the loan will simply not be issued. In the best case, the interest will be set at the maximum level.

Project

Bank risks in this type of investment lending are initially the highest. Project lending provides for the development of one of the directions, separate from the main activity carried out by the enterprise at the time of application. The leaders of the company acting as a probable debtor hope to significantly increase the profitability of the business after the implementation of the plan.

Financing investment projects is always an adventurous business. The bank's income is formed only by the profitability of the new direction. The credited enterprise simply will not be able to fulfill its obligations under the contract if the project does not give the expected effect.

Building

An enterprise can apply to a bank with an application for a construction and investment loan only after it has incurred certain and considerable costs. This feature is due to the specifics of the activity for the construction of real estate. Negotiations are possible if the prospective developer already owns the relevant piece of land or has issued a long-term lease on it.

In addition to the areas, the applicant will have to present the design and estimate documentation, the development of which costs a lot of money. Of course, a building permit is required.

The probability of refusal when applying for a construction and investment loan is low, but it is available only to enterprises with high financial potential. The decision on approval and conditions is made by the bank based on the type of facility being built and an assessment (again, pessimistic) of its likely profitability.

Requirements for an applicant for an investment loan

The standard criteria by which a bank makes ordinary financial borrowing are in this case supplemented by some specific requirements.

Investment loans for small businesses are often a way to reach a medium or even high level of business activity, but it is not easy to overcome the boundaries separating an individual entrepreneur from an LLC.

Since about small amounts we are not talking in this case, the need for a clear and convincing business plan, revealing the purpose of the project, comes first. In addition, the following developments are needed:

• Marketing analysis, proving the possibility of implementing a business plan.
• Contracts with partner firms capable of providing the technical feasibility of translating the idea into reality.
• Availability of free working capital, allowing to bear operating expenses and repay current costs. This is the so-called an initial fee(from a quarter to a half of all planned costs).
• Possession of collateral (security) property in personal ownership or as part of the founding capital. It is subject to standard requirements: trouble-free liquidity and market value in excess of the amount owed.
• It is desirable that the entrepreneur has already implemented at least one investment project - this experience may affect the favorable decision and the terms of the loan.

The features of investment loans include a repayment period that almost never exceeds ten years. One should also take into account the cautious attitude of the bank to applications for project refinancing. If the debtor failed to pay off the primary loan, then the estimated profitability as a result did not live up to expectations. At least, that is the conclusion.

Forms of investment lending

According to the source of financing, investment loans are represented by five main forms:

This brief table requires some explanation, indicating the specifics, advantages and disadvantages of each form of investment lending.

A bank investment loan is the most commonly practiced form of capital raising. Availability works in its favor first of all. As the name implies, it is provided to the borrower in commercial banks subject to the conditions described above.

In turn, it has several varieties, determined by the terms of contracts and other conditions:

• urgent for an entrepreneur;
• revolving (credit line);
• design;
• underwriting.

Of these categories, only the concept of "underwriting" needs comments. It is similar to the bond form, but in this case, the creditor bank acts as the buyer of securities. Of course, only consistently high characteristics of issued bonds can induce such actions.

Investment lending by the development bank, that is, in fact, by the state, is made when the project is of priority importance for the country's economy. Conditions are usually preferential, but they still need to be earned. The objects of public investment are projects that meet high requirements, including:

• progressive technology, confirmed by state expertise;
• ecological cleanliness;
• payback within five years or faster;
• standardization of construction (commissioning) terms;
• compliance with the tasks of social, economic (including foreign trade) significance facing the country.

In other words, if, as a result of the project implementation in Russia, the production of a product based on modern technology without prejudice to environment demanded in the domestic and foreign markets, then you can count on government investment.

The requirements for foreign investors attracted as part of international investment are very high. However, there are several effective ways to interest foreign entrepreneurs in investing in domestic production. Among them are a favorable tax climate, highly qualified labor resources and other advantages of the Russian economy. The main "trump card" is a tempting project that promises high profits.

A synonym for the term "commodity form of investment" is the word "leasing". By providing an enterprise with a fixed asset on the basis of a financial lease, the lessor creates conditions for the growth of labor productivity, improving the quality and all indicators of the enterprise.

Leasing can be financial and operational, direct and reverse. This method of economic borrowing, and in fact, investment, deserves a separate detailed description.

Finally, the fifth and last method of attracting investment lending is the issuance (issue) of securities, namely, bonds that guarantee a stable income in the form of interest. In this they differ from shares, the value of which depends on stock quotes and the success of the financial performance of the issuing enterprise.

The advantage of issuing bonds for the enterprise is that the investment is made directly from the buyer security. The bank, before issuing a loan amount, must first find it, attracting depositors with interest on the deposit.

There are also difficulties. The main one is the search for those who want to buy bonds. This is not easy: each acquirer must be convinced that the project will be profitable.

Calculation of project profitability, payback period and investment loan parameters

You should immediately accept the fact that it is impossible to predict the economic effect of the implementation of almost any project with 100% accuracy and reliability. This, however, does not mean the meaninglessness of the very preparation of a business plan. The maturity and interest of an investment loan always depend on how convincing the applicant's arguments are.

A frequently encountered method used by banks is to draw analogies between project parameters and known characteristics of already working counterparts. If the introduction of some equipment brought a certain enterprise a monthly additional income, for example, 100 thousand rubles, and all other conditions (location, form of ownership, turnover, etc.) are approximately equivalent, then we can assume the same effect after the investment.

Another forecasting method is based on the calculation of the ROI. Its disadvantage is in direct proportion to the difficulties associated with determining the expected profit. The calculation formula is as follows:

Where:
ROI- indicator of return on investment;
VP- gross revenue for the conditional reporting period;
VD- gross cost for the conditional reporting period;
VI- the amount of investment.

Everything is clear here: the ROI indicator shows how much profit each ruble invested in the project brings. Questions arise later.

Gross revenue VD is formed by the unit price of the product and the sales quantity. If an entrepreneur who wants to get an investment loan claims that he will sell each copy at a price of, for example, 100 rubles, and its cost will be 60 rubles, then it may make sense for him to believe. Doubts arise when determining the market capacity, which can be determined by conducting large-scale marketing research or experimentally, that is, after the fact.

The slowdown in sales leads to a decrease in the capital turnover ratio, and, as a result, to a deterioration in real financial indicators in comparison with the planned values. Based on this, banks, as a rule, reduce their forecasts to a reasonably pessimistic level when establishing a payback period and profitability. Accordingly, these indicators affect the term of the contract and the interest rate.

Simplified calculation example

After the commissioning of a new technological line, the Rassvet enterprise will introduce a new product, Rosinka, to the market.

• The projected sales volume will be 50 thousand units. per month.
• The unit cost is 60 rubles.
• Selling price - 96 rubles.
• The cost of the line is 22 million rubles.

Rassvet has its own funds in the amount of 2 million 400 thousand rubles, and intends to spend this money on the purchase of this equipment.

The required amount of investment credit is 19 million 600 thousand rubles.

The business plan states that with these characteristics monthly income will be:

Using the tax calculator, you can calculate that with expenses for:

• Salary 70 thousand / month.
• Current production and operating costs- 10 thousand / month.
• Depreciation - 916,667 rubles / month.
• Other costs - 5 thousand rubles,

the amount of monthly profit remaining for business development after taxes will be 629,651 thousand rubles.

The payback period of the investment To will be:

It is no secret that most loans to the population are issued banking organizations. Despite the attractiveness of lending offers from banks, the procedure itself contains a number of pitfalls. The borrower must have a good credit history, official employment and meet other fairly strict requirements. In some cases, it is easier to get a loan in other structures - in particular, in investment companies.

As a rule, investment companies are less demanding on borrowers compared to banks. In investment companies, they definitely do not require the provision of many certificates that are requested by banking institutions. Also, in most cases, the borrower may not explain for what purpose he needs the money. The main condition is confirmation of the identity of the borrower (provision of a passport), as well as the submission of documents confirming the right to own collateral.

Features of obtaining a loan in an investment company

The main purpose of investment companies is to obtain economic benefits. Investment companies can receive income from various activities: trust management, brokerage and lending.

The essence of investing in lending is that funds are invested in a company that lends to individuals.

Investment companies transfer funds to a specific account, from which loans are issued. The profit of the company depends on the turnover Money.

Investment companies usually provide secured loans. Property that is pledged when applying for a loan in investment companies may remain the property of the borrower, but may also be transferred to the company. In this case, the company becomes the full owner of the collateral, which, after the return of funds, is reissued back.

As a rule, applications for a loan in such organizations are considered quickly. Interest rates start at an average of 10-15% per annum, loans can be issued both for a short period and for up to ten years.

Which investment companies are eligible to issue loans

Investment companies that receive income from lending activities must meet a number of requirements.

The requirements for companies are as follows:

• they must be officially registered legal entity in state bodies in accordance with the requirements of the legislation;
• must have own funds (authorized capital) in the amount established by the sufficiency standards;
• must have a permit (license) to carry out this type of activity.

All the nuances regarding the activities carried out should be reflected in the company's statutory documents. Each company sets interest rates on loans individually, depending on its credit policy.

Thus, getting a loan investment company is often the only way to quickly obtain the necessary sum of money without bureaucratic barriers.

There are many sources of financial support for individuals and entrepreneurs. Someone applies to a bank or an MFI (microfinance organization), it is convenient for someone to get a loan from an investment company. What is this direction and how it differs from the others proposed - we will consider below.

Lending from an investment company

Financial difficulties are solved in two ways. Own reserves are sought, which can be a permanent income or a pre-deferred part of the profits received, or the applicant applies for third-party funding. You can receive money different ways It all depends on several factors:

• the amount of funds needed;
• the term for which the loan is taken;
• Supporting documentation;
• creditor's requirements.

As for the last point, the methods differ here. Banks carefully select potential clients Therefore, obtaining a loan in this way is accompanied by significant difficulties.

If a person (or an entrepreneur) cared enough about his financial affairs, carried out transactions without delay all the time, paid the required interest, the bank would be happy to cooperate with him. However, many citizens of the Russian Federation cannot say with certainty that their credit history is good enough to apply to a bank. What else can await a person with this method of financing?

To get a loan in the banking sector, you must comply with a number of formalities. Firstly, the applicant will be checked for his past financial life and current solvency. All previous credit events involving the person will be checked, as well as his reaction to complications. If there are entries of a negative nature - overdue payments, debts, etc., then the bank will treat the applicant with coolness.

Secondly, some mandatory things, such as permanent employment and income in the right amount, will increase the applicant's chances of obtaining a loan. The bank calculates in advance the options under which a person will not be able to repay the loan. If the applicant works seasonally or his income is below a certain minimum, it makes no sense to count on receiving financial assistance.

It's easier to go the other way to get third-party funds. In this case, a less demanding MFI or a loan from an investment company will do.

The only disadvantage of this type of relationship is interest rate. By issuing small amounts, companies are insured at the expense of high interest from no return. True, the requirements for the applicant here are minimal.

There are many more undeniable advantages:

• the age of the applied citizen is between eighteen and seventy;
• round the clock access;
• the ability to work remotely, without visiting a representative office;
• receiving funds to a card of any bank, or an electronic wallet;
• clearance is fast paced;
• proof of employment and income is not required;
• there is no need to involve guarantors.

The list can be long enough. However, there is another significant point that can be attributed to the negative. The amounts manipulated by MFIs often do not exceed several tens of thousands. There are companies that give out large amounts, but they have to use collateral.

In other respects, receiving financial assistance from MFIs looks promising, especially in relation to credit history. Often citizens resort to the following: they take and repay small loans in order to create positive records in their credit history. Consider another way of obtaining a cash loan, which has the parameters of both of the above methods, and takes mostly the best features.

Online loan from an investment company

Many companies are making various financial efforts to increase their own cash flows. Investing in various projects, including co-financing, is quite a profitable undertaking. Large and small investment funds offer lending on terms almost identical to those offered by MFIs, while:

• loans are offered at a lower rate;
• financial support is stable;
• accompanying documentation is also small.

It is convenient for companies to invest their own money in lending, especially when it comes to investing in small businesses. Sole proprietors can borrow large sums, leaving their real estate as collateral, or arrange loans under the guarantee of their own business.

Investment companies are not bound by the regulations of banks, therefore they can offer favorable conditions, while remaining in abundance. An individual approach to each appeal allows investors to attract more and more new customers.

What needs to be done to get a loan from an investment company? You can refer to the global network to find relevant portals that collect and disseminate information about such investment projects. In such a place, it is easier to compare the proposed product according to certain parameters:

• interest rate;
• duration of the agreement and possibility;
• georeferencing;
• the possibility of receiving funds in various ways;
• documentation required to conclude an agreement.

The amounts manipulated by investors are large enough to cover the need not only for private applications, but also for requests from individual entrepreneurs. Small business receives support, and the investor - the opportunity to earn on their capital.

When seeking financial assistance, there are several factors to consider. If a person is not in a hurry and can wait a few days, then you should contact the bank, where they will conduct appropriate checks on his solvency and provide him with a loan.

In case of failure this appeal do not be upset, because going to an MFI or to investors is the same usual way to find finance. At the same time, one should not forget about the rate set by microlenders and the rather small amounts that they manipulate.

When it comes to a stable deal with good characteristics, you can pay attention to investors. Many companies operating in the financial market offer their services on fairly loyal terms. Getting a loan from an investment company sometimes looks like the most profitable event.

Investment loan