IFAP Short-Term Program TAE 5.619%
Quick and flexible financing
A solution for short-term needs with financing tailored for the agricultural sector

IFAP Short-Term Program TAE 5.619%
Quick and flexible financing
A solution for short-term needs with financing tailored for the agricultural sector


Renewal of the agreement with IFAP to support the short-term needs of Companies
Financing to explore activities in agriculture, forestry, and livestock
Here’s everything you need to know
What, why, and for whom?
For individuals or entities, engaged in agriculture, forestry, and livestock farming
Development and improvement of the competitiveness of Companies in these sectors
Credit granted as a repayable loan
Here’s everything you need to know
What, why, and for whom?
Renewal of the agreement with IFAP to support the short-term needs of Companies
Financing to explore activities in agriculture, forestry, and livestock
For individuals or entities, engaged in agriculture, forestry, and livestock farming
Development and improvement of the competitiveness of Companies in these sectors
Credit granted as a repayable loan
Here’s everything you need to know
What, why, and for whom?
Renewal of the agreement with IFAP to support the short-term needs of Companies
Financing to explore activities in agriculture, forestry, and livestock
For individuals or entities, engaged in agriculture, forestry, and livestock farming
Development and improvement of the competitiveness of Companies in these sectors
Credit granted as a repayable loan
Rates and charges
Now the numbers
Effective Annual Rate (TAE)
5.619%
5.619%
Term
up to 12 months
up to 12 months
TAE of 5.619% calculated based on a TAN of 4.500% - 6-month Euribor (simple arithmetic average of the daily prices of the month before each interest counting period, rounded to the thousandth, which for this example was the month of May 2022, corresponding to -0.144%, which, being negative, is considered raised to the power of 0.000%), plus a spread of 4.5% considering a credit in the form of a loan of €50,000, with a term of 12 months, with payment of interest and repayment of the capital at the end of the contracted term, including the Organization Fee.
The TAE (Effective Annual Rate) was calculated according to Decree-Law No. 220/94 of 23 August.
All proposals will be subject to analysis and credit risk decision by Millennium bcp.
This document does not constitute a contractual proposal.
The TAE (Effective Annual Rate) was calculated according to Decree-Law No. 220/94 of 23 August.
All proposals will be subject to analysis and credit risk decision by Millennium bcp.
This document does not constitute a contractual proposal.
Financing
Here are all the conditions
Refund
Refunding occurs once, one year after the first use of the credit.
Interest payment
Loans accrue interest at the contractual rate, calculated daily on the outstanding principal. The interest is paid as a single total amount on the repayment date.
Fees
Organization fee planned for the Loan Accounts product.
Interest bonus
Credit operations benefit from a 20% interest bonus provided by IFAP.
"Minimis" scheme
The amount of aid granted per beneficiary can be combined with any other minimis aid but cannot exceed a total of €15,000.00.
What you should know
What are the criteria for applying?


Comply with the legal requirements necessary to carry out their respective activity


Location within the mainland territory


Be registered as IFAP beneficiaries


Updated parcel and livestock registry


Have their situation regularized with the Tax Authority, Social Security, and IFAP


Have not exhausted the Minimis support limit under previous measures
For further questions, contact your Account Manager or visit a branch.
For further questions, contact your Account Manager or visit a branch.