New Loan from ČSOB Helps Retailers Finance Operational Costs

ČSOB has introduced a new loan tailored specifically for merchants, simplifying access to financial resources for their operational expenses. This loan is aimed at merchants who actively accept card payments and seek a flexible financing solution for their business operations.

Good start for entrepreneurs

The banking product enables retailers to obtain amounts ranging from CZK 20,000 to CZK 1,000,000 without the necessity of providing financial statements or specifying the loan’s purpose. Repayment terms are aligned with the merchant’s income — daily repayments are automatically deducted from transactions processed via a payment terminal or payment gateway. This means merchants repay the loan directly from revenues obtained through card payments, making loan repayments fully automatic. Timely repayment enhances merchants’ ability to easily access further bank financing.

The first repayment installment is deferred by 15 days, allowing entrepreneurs the opportunity, for instance, to increase their inventory and subsequently repay the loan from sales generated by these newly acquired stocks.

The interest rate is fixed at 0.99% of the borrowed amount per month, with no hidden fees. The loan term ranges from 3 to 11 months, and retailers can repay the loan early at any time without penalties.

What are the conditions for obtaining a loan?

Eligibility for the loan requires using ČSOB’s payment terminal or payment gateway for at least three months. The credit limit is automatically determined based on turnover from these devices, and entrepreneurs can check their eligibility online via internet or mobile banking.

Loan applications can be conveniently submitted through electronic banking, by phone, or in person at a ČSOB branch. Entrepreneurs without a business account at ČSOB can easily open one online and immediately benefit from accepting card payments.

Considering a payment terminal or payment gateway? Apply today.

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