One entrepreneur was recently surprised when he had to sign a clause in the loan agreement that protects the bank from a negative reference interest rate. If the reference interest rate (EURIBOR) is negative, the bank will apply a rate of zero percent. This indicates that banks are preparing for further interest rate declines. To be fair, EURIBOR has not yet fallen to -3%, it remains at -0.2%, -0.3%, which is currently a negligible minus for banks, but you never know…
The entrepreneur tells us how he managed to obtain a loan without mortgaging his kidneys and the education of his children, but it was a loan program that the bank offered in collaboration with the European Union and its institutions:
– We managed to get a loan, and the interest rate is calculated by adding the bank’s margin to the reference rate, which is either EURIBOR, NRS, Libor, the price of six-month or whatever state borrowing. I would also note that the contract states – since there is a possibility that reference rates may go negative, in that case, the bank protects itself by calculating a reference rate of zero percent for me as the debtor, there is no minus – says our interlocutor.
You can read the full text in the new issue of Lider.
