Profihypo Loans

You can use the following offer of Profihypo loans:

• Profihypo loan – purpose-specific
• Profihypo loan – non-purpose-specific
• Profihypo loan – purpose-specific for selected members of chambers (e.g. Slovak Chamber of Dental Doctors, Slovak Medical Chamber, …)

Profihypo loans enable you to:

• invest in real estate intended for business – acquisition, construction, reconstruction of real estate
• repay existing loans with one loan
• invest in long-term tangible and intangible assets
• at the same time, 30 % of the amount of the granted purpose-specific loan can be used without documenting the purpose
• in the case of a non-purpose-specific loan, the funds can be used for anything without submitting the purpose of their use

Conditions for granting Profihypo loans:

• legal entity or natural person (entrepreneur)
• the entrepreneur has carried out business activity for at least 1 year (1 completed accounting period)
• meets the criteria set by VÚB bank for the creditworthiness of the business entity
• the value of the real estate is determined by the bank based on an expert report prepared by a court-appointed expert. The expert report must be prepared according to Decree No. 492/2004 Coll. on determining the general value of real estate in the HYPO program

Collateral for Profihypo loans:

• guarantor’s declaration
• suitable domestic real estate:
• registered in the real estate cadastre
• the transfer of ownership rights to the real estate must not be restricted
• insurance of the immovable property that forms the subject of the loan collateral, including assignment of the insurance proceeds in favour of the bank

Required documents:

• Documents needed to assess the application:
• loan application
• tax return and financial statements for the last completed accounting period and, if applicable, as of the end of the completed half-year of the current accounting period

Documents needed to secure the loan:

• the value of the real estate is determined by the bank based on an expert report prepared by a court-appointed expert. The expert report must be prepared according to Decree No. 492/2004 Coll. on determining the general value of real estate in the HYPO program

Documents needed after loan approval:

• documents proving authorisation to carry out business activity
• documents relating to the purpose of the loan (in the case of a purpose-specific loan)