1. Application for a loan or guarantee may be submitted by a private person at least being 18 years old and citizen of Estonia or having a permanent residence permit
2. The following requirements shall be met by the applicant in order to get a loan or a guarantee:
2.1. Holding an account with Tallinn Business Bank at least for the last six months
2.2. Regular and controllable monthly revenue net amount shall be at least EUR 320
2.3. Regular amounts incoming into the account with Tallinn Business Bank within the last three months is an advantage
2.4. The monthly repayment amount interest incl. for the loan applied shall not exceed 35% of the applicants net monthly income.
3. The ground for loan or guarantee to be granted is availability of collateral owned by the applicant or the third person. The value of the collateral estimated by the appraiser approved by the bank shall exceed the amount of the loan applied. The bank approves the following as possible collateral:
- time deposit with Tallinn Business Bank
- bail or warrant of the third person
- mortgage
- pledge of other kind of real estate
- pledge
- pledge of movables
- pledge of securities
- revenues
4. Interest is calculated basing on the year of 360 days