The specificity of modern lending practice is that Russian banks do not have a unified regulatory and methodological framework for organizing the credit process. Former bank instructions were focused on the distributive credit system and the sectoral approach to lending and turned out to be unacceptable in market conditions. Therefore, each commercial Bank develops its own approaches to the organization of the credit process, taking into account the generally accepted foreign countries initial provisions and advanced domestic experience.

The lending process can be conditionally divided into several stages:

1) strategy development credit operations;

2) acquaintance with a potential borrower;

3) assessment of the creditworthiness of a potential borrower and the risk associated with issuing a loan;

4) clearance credit documentation and granting credit;

5) credit monitoring (follow-up control in the process of lending).

Development of a credit operations strategy. The organization of the credit process is based on the credit strategy and policy developed by the commercial bank itself. The credit strategy is being developed as part of general strategy bank and consists in choosing such target markets, types of credit operations, customer groups, sectors of the economy and regions of the country that would create a balance between the areas of activity already mastered by the bank and new ones that promise additional income, but associated with additional risks, and on this basis would provide competitive advantages before other banks. The development of a credit strategy is usually the responsibility of the board of directors of a commercial bank. Control over the implementation of the developed credit strategy, as a rule, is assigned to the credit committee of the bank.

The credit policy includes those specific goals that guide the credit committee in issuing loans and exercising control over lending. This policy proceeds from the approved credit strategy, is developed, as a rule, for the next year and is issued in the form of a special document - "Guidelines (regulations) on the credit policy of the bank." Development of competent credit policy, which ensures the reliability and profitability of credit operations, is essential element banking management. It determines the acceptable level of risk that the bank can take on.

Acquaintance with a potential borrower. At this stage, the scope of the client's activity, the direction of the sale of his products, the state of affairs in this business now and in the future, the main suppliers, buyers, the legal status of the borrower are studied, the purpose of the loan is studied, the compliance of the client's needs with the current credit policy of the bank is determined, the type of loan is established , its form, term, sources of repayment of the loan and payment of interest on it.

Assessment of the creditworthiness of the borrower and the risk associated with issuing a loan. The assessment of the borrower's creditworthiness involves an assessment of his personality, business reputation, credit history, solvency (i.e. the ability to repay the loan taken at the expense of current cash receipts or from the sale of assets). unified methodology there is no assessment of the borrower's creditworthiness, each bank develops its own approaches to this analysis. In the process, all available materials are used, both received from the client and available in the credit archive.

To consider the issue of issuing a loan, borrowers submit a standard package of documents to the bank.

Any economic, including credit, transaction requires certain documentation. Oral negotiations conducted by the client with the bank, at the initial, preliminary stage, one way or another end with the submission of a written application to the credit institution (justifying the need for a loan for certain purposes). "At hand" the bank should also have materials that allow it to determine the financial situation of the client, his creditworthiness. It is therefore necessary for the bank to have, and for the client to present, a balance at the beginning of the year. Domestic and foreign banks practice requirements for obtaining a balance for the last 2-3 years, if necessary, request a balance for the next monthly date. Together with the balance sheet, the enterprises submit profit and loss statements to the bank.

Justification for the need for a loan (also called a feasibility study) contains a client's request for a loan for specific purposes, in the required amount, at a certain percentage and for a specific period.

In general, the set of documents submitted by clients to the bank is regulated by the Regulation "On the procedure for the provision (placement) of funds by credit institutions and their return (repayment)" of the Central Bank of the Russian Federation of August 31, 1998 No. 54-P. According to this provision, all documentation is divided into three groups (Fig. 1).

rice. 1. The structure of the documentation submitted to the bank by enterprises-borrowers for obtaining a loan

Along with a written application to the bank for a loan in some countries, there is a special documentary form - a general statement - the borrower's obligation to fulfill the requirements arising from the terms of the loan transaction. This special form is absent in most developed countries(for example, it is not available in Germany or France), it has been replaced by the loan agreement itself, which has a template mandatory form, including declaring the client's obligation to comply with the requirements and rules of the credit institution. Russian commercial banks also abandoned the practice of presenting this obligation. Along with this commitment statement, forward commitments are used. A term obligation is presented in a certain form, it fixes the borrower's obligation to repay this loan taken for specific purposes, in a fixed amount and at a specific time.

There may be several of these obligations: it all depends on how long the loan is granted - conditional or specific. In the previous Russian practice, banks used both term obligations with conditional and specific maturity of the loan. The specific term fixed the date at which the loan must be repaid by the client. The conditional term determined the date when the maturity of the loan was revised (in this case, this term obligation was replaced by another, new obligation). Many Russian banks have ceased to require term obligations from customers, bearing in mind that the loan repayment period is fixed in the loan agreement, which from a legal point of view, if it is properly drawn up, is sufficient reason to write off funds from the borrower's accounts to repay the loan debt.

A loan agreement is the most important document that defines the rights and obligations of participants in a loan transaction. It contains the economic and legal responsibilities of the parties. A strictly defined form of a loan agreement recommended commercial banks central bank RF does not exist. In countries such as Germany, Austria, standard forms of a loan agreement are recommended both with legal entities and individuals. In France such type form developed exclusively for individual borrowers, believing that banking practice is so diverse that it is not possible to recommend any single model of a loan agreement.

And yet loan agreement has a well-defined framework around which the entire scheme of the agreement is built. Of course, it fixes the full name of the participants, their legal addresses; subject of the contract, amount, term, repayment procedure, interest rate, commission amount, security and guarantees. In general, the terms of lending are determined quite accurately. Particular importance is attached to credit clauses, which give the bank the right to exercise its right to repay the loan and pay interest at the expense of the resources and property of both the client and his guarantors in the event of a delay in payment, non-compliance with contractual conditions.

Special sections are devoted to the obligations of both the client and the bank.

In addition to the loan agreement, if necessary, a pledge agreement can also be concluded. In practice, it happens like this: if a pledge is present in a loan transaction, then a pledge agreement is necessarily concluded, and often, for the strength of the signature of the client and the bank, they are additionally certified by a notary. "Regulations on the procedure for the provision (placement) of funds by credit institutions and their return (repayment)" obliges banks to have a number of internal documents, including those reflecting:

the bank's policy on the placement (provision) of loans;

accounting policy and approaches to its implementation;

procedure for making decisions on lending;

distribution of powers between divisions and officials;

customer lending process credit organization.

A credit transaction implies the emergence of an obligation of the borrower to repay the corresponding debt. Specific practice shows that the existence of an obligation (in different forms) does not yet mean warranty and timely return. The emergence of inflationary processes in the economy can cause the depreciation of the amount of the loan, and the deterioration financial condition borrower - violation of the terms of repayment of the loan. Therefore, the international experience of banking activities has developed a mechanism for organizing a loan repayment, including: a) the procedure for repaying a particular loan at the expense of proceeds (income); b) legal consolidation of its repayment procedure in the loan agreement, c) the use of various forms of ensuring the completeness and timeliness of the reverse movement of the loaned value.

The form of securing the repayment of a loan should be understood as a specific source of repayment of the existing debt, legal registration the rights of the creditor to use it, the organization of the bank's control over the sufficiency and acceptability of this source.

If the mechanism of loan repayment at the expense of proceeds (income) and its consolidation in loan agreements are the main prerequisite for repayment of the loan, then the definition of the forms of security for the return is a guarantee of this return. Such a guarantee is needed when there is a high degree of risk of late payment.

Thus, in banking practice, the sources of repayment of loans are divided into primary and secondary. The primary source is the proceeds from the sale of products, the provision of services or income received by an individual.

Foreign bankers consider it their "golden" rule, when considering the possibility of concluding a credit transaction, to focus primarily on the primary source. Therefore, in the process of studying a loan application, the main attention is paid to the analysis cash flows client, the prospects for the development of the industry and business of this client, the state of the client's relationship with suppliers and buyers. If the bank has doubts about the prospects for the receipt of proceeds (income) by the borrower, the loan transaction will not take place.

The real guarantee of loan repayment is the proceeds (income) only from financially stable enterprises. These include: companies with high level profitability and high equity capital. Such enterprises have not only a systematic inflow of cash, but also an increase in cash in terms of generating profits, as well as replenishing equity capital.

For financially stable enterprises that are first-class clients of the bank, legal consolidation in the loan agreement of repayment of loans at the expense of incoming proceeds seems to be quite sufficient. In this case, a purely trusting relationship develops between the bank and the borrower, which implies the fulfillment by the borrower of its obligations to repay loans without providing any additional guarantees.

More often in practice there is a situation when there is a certain risk of timely receipt of revenue. Risk factors can be related both to the production process or the sale of valuables, as well as the state of settlements with buyers, changes in market conditions, seasonal fluctuations, etc.

In all these cases, it becomes necessary to have additional guarantees for the repayment of the loan, which requires the search for secondary sources. These include: pledge of property and rights, assignment of claims and rights, guarantees and guarantees, insurance. These forms of securing the repayment of a loan are drawn up by special documents that have legal force and fix a certain procedure for repaying the loan to the lender in the event that the borrower does not have funds when the obligation is due. The use of secondary sources of loan repayment is a laborious and lengthy process. Efficiency existing forms ensuring the repayment of a loan depends on the effectiveness of the legal mechanism, the legal and economic literacy of the relevant employees, and the observance of business ethics by the guarantors of payment obligations. Creating a system of guarantees for a lender (bank) of timely repayment of a loan is of particular relevance in Russia due to the instability of the financial condition of many borrowers, insufficient experience in market conditions of businessmen, bankers, and lawyers.

Literature:

1. Development strategy financial market Russian Federation for 2006-2008 [ Electronic resource]: approved by order of the Government of the Russian Federation of June 1, 2006 No. 793-r // http://www.akdi.ru/econom/program/71.htm

2. Finance and credit [text]: textbook / under. ed. prof. M.V. Romanovsky, prof. G.N. Beloglazova. - 2nd ed., revised. and additional .. - M .: Higher education, 2008. - 609 p.

3. Money, credit, banks: textbook / I.V. Merkulova, A.Yu. Lukyanov. – M.: KNORUS, 2010, S. 352

The lending mechanism offers a specific method of granting a loan, the choice of which depends on the characteristics of the production and commercial cycle of the borrower, the uniformity of receipts from sales, credit history, as well as the nature of the borrower's need for borrowed funds (temporary or permanent). So, trade enterprises traditionally use a significant share of borrowed funds in their turnover; the speed of capital turnover and the uniformity of the flow of trading proceeds allow them to borrow funds without disturbing their liquidity.

In accordance with the Regulation of the Bank of Russia “On the procedure for providing (placement) by credit institutions of funds and their return (repayment)”, a loan is provided to legal entities only in a non-cash manner by crediting funds to the settlement (current) account of the borrower, including when granting a loan to payment of payment documents. Loans in foreign currency are issued to both legal entities and individuals only in a non-cash form.

Loan options:

• * opening a credit line, ie. conclusion of an agreement (agreement) on the maximum loan amount that the borrower can use within a specified period and subject to certain conditions of the agreement. The opening of a credit line should also be understood as the conclusion of an agreement to provide funds on any terms other than the terms of a one-time loan agreement. Within the limit of the credit line, the borrower is granted a loan by paying payment documents as needed or in separate tranches. Repayment of a loan within the framework of a credit line can occur both within a certain time frame based on the client's urgent obligations, and as soon as funds are received on the borrower's account;
• * lending by the bank to a settlement (current, correspondent) account of a bank client in case of insufficient or no funds on it and payment of settlement documents received in the name of the client: such a loan is called an overdrive - participation in the provision (placement) of funds to a bank client on a syndicated (consortium) basis (several banks unite to issue a large loan).

Repayment (repayment) of a loan and payment of interest on it can be made by debiting funds from the borrower's current account according to his payment order, as well as debiting funds in the order of priority based on the bank's payment request. In the latter case, when concluding a loan agreement, the borrower must document his consent to direct debiting of funds from his account to repay the loan. If there is a shortage of funds in the borrower's current account, the bank first collects interest on the loan, and then the principal debt

If the borrower fails to pay the amount due within the terms established by the agreement, its principal debt or interest payment shall be transferred to the account of overdue debt on principal or interest. For overdue loans, the bank sets an increased interest rate. Banks keep records of interest on transactions related to the placement of funds according to the following indicators:

accrued (accumulated) interest on active operations bank (for operations related to the placement of funds) - due to be received from the bank's customers and funds placed with them;

interest received on active operations of the bank - interest debited from the accounts of borrowing clients or paid in the prescribed manner by individuals to the cash desk;

overdue debt on receipt of interest - debt on interest due to be received from legal entities and individuals, but not received by the creditor bank upon the maturity of the period established by the agreement.

Receipt of interest on placed funds is carried out in cash: by legal entities - only in non-cash form. Interest on loans can be calculated according to the simple interest formula, using a fixed or floating interest rate.

When accruing interest on loans at a floating interest rate, the rate under agreements in foreign currency, the refinancing rate of the Bank of Russia, another interbank market rate plus/minus the interest established by the agreement may be used as the base rate. Interest on placed cash are charged by the bank on the balance of the debt on the principal debt (accounted for on the corresponding personal account) at the beginning business day. Accrued interest is to be reflected in accounting bank at least once a month no later than the last business day of the reporting month. At the same time, programmatically, daily accrual of interest in the context of each agreement on an accrual basis from the date of the last reflection of accrued interest on personal accounts should be ensured. Interest received from borrowers for granted loans is included in the bank's income.

Lending can be conditionally divided into several stages, at each of which the characteristics of the loan, the methods of its issuance and repayment are specified:

• * consideration of the loan application and interview with the client;
• * study of the client's creditworthiness;
• * preparation and conclusion of a loan agreement, issuance of a loan;
• * formation of a reserve for possible losses on loans;
• * bank control over the fulfillment of the terms of the agreement and the repayment of the loan (loan support);
• * work of the bank with problem loans.

Consideration of the loan application and interview with the client. A client applying to the bank for a loan must submit an application-petition (loan application) in any form, which indicates:

• * Purpose of the loan, from brief description enterprises and possible economic effect as a result of using the loan;
• * credit amount;
• * term of use;
• * prospective security;
• * acceptable interest rate for the enterprise. The bank requires that the loan application be accompanied by the required documents and financial statements that serve as a justification for the loan request and explain the reasons for applying to the bank. These documents are necessary component applications. Their thorough analysis is carried out at subsequent stages, after the bank representative conducts a preliminary interview with the applicant and concludes that the transaction is promising.

The package of accompanying documents submitted to the bank along with the application includes the following:

• - feasibility study of the need for a loan with calculations of planned costs and expected receipts from the sale of products (feasibility study);
• - a financial report, including a balance sheet and a profit and loss statement, annual and as of the last reporting dates, with the marks of the State Tax Inspectorate on their acceptance. The balance sheet shows the structure of assets, liabilities and capital of the company. The income statement gives details of a company's income and expenses, net profit, its distribution;
• * report on the movement of cash receipts, based on a comparison of the company's balance sheets for two dates and allows you to determine the changes in various items and the movement of funds. The report gives a picture of the use of resources, the timing of the release of funds and the formation of a shortfall in cash receipts;
• * internal financial reports characterizing in more detail the financial position of the company, changes in its need for resources during the year;
• * internal management reports. Matching the balance takes a lot of time. The bank may require operational accounting data, which are contained in notes and reports prepared for the company's management. These documents relate to operations and investments, changes in accounts receivable and accounts payable on sales, inventory levels; funding forecast; containing estimates of future income, expenses, production costs, accounts receivable, inventory turnover, cash requirements, capital investment. There are two types of forecast: estimated balance and cash budget. The first includes the forecast version of balance accounts and the profit and loss account for future period, the second predicts the receipt and expenditure of cash; business plans. Many loan applications are related to the financing of start-up businesses that do not yet have financial statements and other documentation. In this case, a detailed business plan is submitted, which should contain information about the goals of the project, methods of conducting operations, documents certifying the ownership of property, real estate, certified by a notary; obligations to ensure timely repayment of the loan (guarantees, guarantees, insurance policies, securities); certificates, acts tax authorities, pension fund and others off-budget funds to assess possible fines and condition accounting. For borrower clients with settlement accounts in other banks, the above list must be accompanied by notarized articles of association, registration certificate, memorandum of association, minutes of the meeting of founders, cards with sample signatures of account holders and a seal imprint. An application for a loan goes to the appropriate loan officer and within one or two days must be considered by him for acceptance or refusal. The procedure for terminating an application is different for regular and new customers, for customers who enjoy the trust of the bank and those who do not have it; experienced economic activity and for new start-up organizations. Assigning potential borrowers to one group or another depends on the available information about the client, the bank's objective and reasonable caution in choosing a client. Issuing a loan without a preliminary check is not allowed, regardless of the importance of economic bodies, the powers of officials, interests and the expected effect (income). Since the bank operates mainly with borrowed capital, a significant part of which can be claimed by the owners in a short time, when considering an application for a loan, the bank must take into account the prospect of repaying obligations to depositors. Therefore, before issuing a loan, it is necessary to assess the risk associated with it and, first of all, the probability of repaying the loan on time. The safety of the principal amount of the debt - this is one of the main principles that must always be observed when the bank conducts credit operations. If during preliminary survey the bank does not receive a satisfactory answer to key questions related to the issuance of a loan, the application should be unconditionally rejected. In this case, it is necessary to explain to the applicant the reasons why the loan cannot be granted. Neither the presence of solid collateral, nor any other positive factors will be able to prevent a crisis situation if the loan is not fundamentally justified.

Often, experts neglect the analysis of many factors of a loan application, focusing their attention on the security of the loan. Undoubtedly, the presence of collateral or some other collateral significantly reduces the risk of a loan and simplifies the procedure for making a decision on lending, but it is wrong to limit the analysis of an application only to the presence of collateral.

However, it must be borne in mind that only a few applications for credit are irreproachable from all points of view. Professional training of managers and ordinary employees of the bank is excluded in giving a balanced assessment of the strengths and weaknesses of the proposed transaction and accepting the reasonable risk that is present to one degree or another in each specific transaction. After considering the application and before negotiating with the borrower, the responsible employee of the bank familiarizes himself in advance with the information, legal and information provided to him. financial documents confirming and characterizing:

• * legal status and eligibility, powers of governing bodies;
• * the financial situation of the client;
• * the purpose and purpose of the loan, the reality of its execution;
• * sources of repayment;
• * methods of guarantee;
• * the presence of debts to other creditors.

The interview allows the borrower to personally justify the need for a loan, and the bank employee to assess the nature and sincerity of his intentions. During the interview, you should not only find out key questions about the loan (questions about the client and his company about the request for a loan, about repayment of the loan, about securing a loan, about the client's connections with other banks, etc.), but also to assess the personality of the client , focusing on such qualities as decency, honesty and professional ability. If the client is not sufficiently convincing in indicating the goal and the reality of its achievement, or there are doubts about his decency in fulfilling the terms of the contract, these circumstances should be taken into account as a strong negative factor when considering a loan application.

Considering a loan application on the merits, the bank may refuse a loan for the following reasons:

• · if the goals and means of achieving it, specified in the loan application, are at odds with the basic principles of the bank's credit policy;
• if the share of the borrower-owner in the total capital of his enterprise is insignificant;
• if there is no confidence in the expediency of issuing a loan;

if there is any doubt about the persons involved in the loan transaction.

In this case, the application is filed in a separate file for applications that have not received approval. Doing banking business and business ethics require a polite, reasoned refusal.

If the bank decides to continue working with the client based on the results of consideration of the loan application and the preliminary interview, then the next stage begins - the stage of determining the creditworthiness of the borrower.

• The procedure for registering a credit institution and licensing banking activities in the Russian Federation
• The procedure for the formation and use of the reserve fund
• The procedure for compiling the settlement balance sheet, plan of income and expenses, profit
• Features of registration of banks with foreign participation
• The procedure for opening branches of commercial banks abroad

• Types of client accounts and bank control over cashless payments
• Banking control over compliance with cash discipline by enterprises and organizations
• Planning, accounting and analysis of cash turnover in banks

• Accounting for risk, liquidity, return on assets when placing funds
• Prudential norms of bank activity. Responsibility of banks for violation of prudential norms of activity
• Liquidity ratios (for active and passive operations)

• Signs of possible fictitiousness of foreign trade contracts

• Formation of a mandatory reserve in the Central Bank

• The procedure for the formation of a reserve for possible losses on loans
• The procedure for using the reserve for possible losses on loans and the responsibility of banks for the correctness of its formation

• Mortgage lending tools. Loan payment calculation schemes
• The procedure for granting a mortgage loan by commercial banks

Lending mechanism

The lending mechanism involves a specific method of granting a loan, the choice of which depends on the characteristics of the production and commercial cycle of the borrower, the uniformity of receipts from sales, credit history, as well as the nature of the borrower's need for borrowed funds.

Credit is provided to legal entities only in a non-cash form by crediting funds to the borrower's current account. For individuals credit can be provided in non-cash form, as well as in cash. Loans in foreign currency are provided only in non-cash form to both individuals and legal entities.

Loan options:

1. One-time crediting (issuing) of funds;
2. Opening a credit line (mainly for legal entities);
3. Bank lending to a current account (overdraft);
4. Participation in the provision of funds to the client on a syndicated (consortium) basis.

The repayment of the loan and the payment of interest on it can be made by debiting funds from the borrower's current account on his payment order. With a lack of funds in his current account, the bank first collects interest on the loan, and then the principal amount of the debt.

Individuals can repay loans and pay interest on them from their bank accounts based on written orders, and by postal order and cash deposit. If the debtor does not return the amount of the debt on time, then it is transferred to the overdue debt account.

Accounting for interest on transactions is carried out in the following order:

1. Accrued interest on active operations;
2. Received interest on active operations;
3. Overdue interest on active transactions.

The base rate for interest calculation is:

Stages of the lending process:

Development of a credit operations strategy (memorandum).

Each bank develops its own credit policy, reflecting the goals, principles and conditions for issuing a loan, which are reflected in the social document-memorandum.

The credit policy of each bank should be based on three main principles:

1. Justification for granting a loan, ensuring their repayment;
2. Placement of funds taking into account the interests of shareholders and in order to protect the interests of depositors;
3. Satisfying market needs for loans.

The Memorandum "On credit policy" determines:

1. Purpose of credit policy for the current year;
2. The main principles of formation loan portfolio jar;
3. Organization of lending;
4. Ensuring the liquidity of the loan portfolio and reducing credit risk;
5. Interest rate policy on loans.

1. Acquaintance with a potential borrower.

   Assessment of the creditworthiness of the borrower and the risk associated with issuing a loan.

   At this stage, the coefficients characterizing the solvency and liquidity of the client are studied, its financial statements are evaluated, a deeper analysis of the documentation is carried out, and the business plan of the borrower is studied.

   The result of work at this stage is the conclusion of a loan agreement (undocumented).

   Preparation and conclusion of a loan agreement and security obligations for issuing a loan. The legal department of the bank conducts legal examination of the text of the agreement. After issuing a loan, a specialist in the credit department forms a credit file for the borrower.

   Credit monitoring provides a control in the course of lending.

   The Bank constantly monitors the terms of the loan agreement: the credit limit (compliance), the intended use of the loan, timely payment of interest, the safety of the borrower's creditworthiness.

   In the process of individual control, the bank employee must evaluate:

   1. Credit quality, i.e. change in the financial situation of the client and his ability to repay the loan;
   2. Compliance with the terms of the loan agreement;
   3. Condition of collateral, guarantees, guarantees;
   4. Profitability.

   As a result of credit monitoring, problem loans may be identified, i.e. those loans that cannot be repaid.

Scheme of the lending process

The credit market is the sphere of circulation of loan funds.

The mechanism of the credit market is an integral part of the credit mechanism of each a separate bank including lending principles, credit planning and credit management. With the help of the credit mechanism, the bank develops a credit policy.

The inclusion of the main points in the provision of the credit policy that defines the credit facility will allow the bank's management to identify the strengths and weak sides its activities, and positions in relation to competitors - to determine a common line of conduct and ensure a uniform approach to customers.

World banking practice, based on many years of experience in a changing market environment and competitive rivalry of lending institutions, has developed a kind of "code of conduct" for banks, in other words, a set of rules aimed at conducting a balanced credit policy and to a large extent minimize the risk of lending operations. And although the organization of credit relations between a bank and customers depends on the size of the bank, the size of the loan portfolio (the totality of loans issued), the type of loan, the qualifications of bank employees responsible for issuing loans, but nevertheless, the lending process of any bank, if possible, must be divided into several stages, each of which contributes to quality characteristics loan and determines the degree of its reliability and profitability for the bank.

1. Formation of a portfolio of loan applications. A client applying to a bank for a loan must submit an application containing the initial information about the required loan, the proposed security. Based on the information received, the Bank performs a preliminary selection of the most attractive offers and creates on their basis an information portfolio of loan applications for further work.

It is at this stage that the loan officer should prepare for negotiations and obtain as complete information as possible about the potential borrower.

The loan officer, if necessary, can inquire about the financial situation of the borrower in the bank serving him. Before negotiations, the loan officer examines the financial and reference documents of the client in advance (meaning cards with sample signatures, certified in the prescribed manner; the balance for the last reporting date; declaration of income and expenses; a feasibility study of the loan, which indicates a short list of the types of activities of the enterprise and the amount of tax paid; the purpose for which the loan is requested; a list of items of expenditure made at the expense of the received loan; the expected volume of output of products or services rendered in monetary terms, and, if necessary, in kind, indicating the prices per unit of products or services; planned sales market for products; guarantee letters.

In foreign lending practice, the accompanying documents submitted to the bank along with the application, as a rule, include financial statements for the last three years certified by an independent audit firm, internal financial and management reports of the company, a cash flow statement for the previous year; forecast materials; tax returns; business plans containing a detailed study of projects or other activities financed by the bank.

2. Consideration of the application and negotiation with the future borrower. According to American analysts, 35-40% of overdue loans arise as a result of an insufficiently deep analysis of the financial position of the borrower at the preliminary stage of negotiations.

The application goes to the loan officer, who, after considering it, conducts a preliminary conversation with the future borrower - directly with the head of the enterprise or his representative. This conversation is of great importance for resolving the issue of a future loan: it allows the loan officer not only to find out many important details of the loan application, but also to draw up a psychological portrait of the borrower, to find out the professional readiness of the company's management, the realism of its assessments of the situation and development prospects of the enterprise.

During the conversation, the interviewer should not seek to find out all aspects of the enterprise; it should focus on the key, basic issues of greatest interest to the bank. It is recommended to distribute the questions into 4-5 groups. Sample questions are provided below.

Information about the client and his company: whether the firm is a sole proprietorship, partnership or corporation; how long ago the company was established; what is its structure; who are the owners, how many shares they have; what is the experience and qualifications of managers; whether the enterprise is profitable; who are the main suppliers and buyers; under what conditions the product is sold.

Questions about applying for a loan : how much money the company intends to receive from the bank; How is this amount calculated? whether the forecast of financial needs is accurate enough; whether the terms under which the client wants to receive a loan are taken into account, the life of the assets financed with the loan; whether the terms of the loan take into account the client's ability to repay the loan on time.

Issues related to loan repayment : how the client intends to repay the loan; how much cash is received during the operating cycle; whether the client has a special source of loan repayment; whether there are persons ready to give a guarantee and what is their financial situation.

Questions about loan collateral: what collateral will be pledged; who is the owner of the security; where the collateral is stored; whether it is under the control of the client and whether someone's special permission is required in order to sell the collateral; how the valuation of the property that is supposed to be used as security was made; whether the collateral is corruptible; what are the costs of holding the collateral.

Questions about the client's relationships with other banks: which banks are currently used by the client; whether he applied to other banks for a loan; why the client came to this particular bank; whether there are outstanding loans and what their nature is.

When receiving an application for a loan, the bank must study not only various aspects of the loan transaction, but also assess the personal qualities of the borrower - the head of the company. Assessing the personality of the client, the bank focuses on the following points: decency and honesty; professional abilities; age and state of health; the presence of a successor (in case of illness and death); material security. The bank should not provide a loan to an enterprise whose management is not trustworthy, i.e. if there are indications that the borrower will not scrupulously adhere to the terms of the loan agreement.

It is preferable for a bank to deal with a client who owns a house and has lived in it for a number of years, who also does not often change jobs, is married, has a family, children, etc. This serves, as a rule, as evidence of trustworthiness and gives a certain guarantee that the client will not stop paying the debt in an emergency. If the client has previously received a loan from this bank or if he has a solid deposit account here, this significantly increases his chances of obtaining a loan. The head of the enterprise should ideally be of average return and have a solid vocational training in the chosen field commercial activities. The bank should be especially careful to see if the company has obligations to other credit institutions. For example, if the buildings owned by the firm are already mortgaged, this seriously undermines its solvency.

• 3. Assessment of the creditworthiness of the borrower and the risk associated with issuing a loan. After the conversation, the loan officer must decide whether to continue working with the loan application or refuse. If the client's proposal diverges in some important aspects from the principles and guidelines of the bank's policy in the field of credit operations, then the application should be resolutely rejected. In this case, it is necessary to explain to the applicant the reasons why the loan cannot be granted. If, on the basis of the results of the preliminary interview, the loan officer decides to continue working with the client, then he must conduct an in-depth and thorough examination of the financial situation of the enterprise - the borrower. This is one of the most important stages of the lending process, as it allows you to anticipate the likelihood of timely repayment of loans and the effectiveness of their use. To do this, each bank applies a methodology financial analysis, to determine the financial condition of the client's enterprise.
• 4. Making a decision on the advisability of issuing a loan and the form of its provision. In the case of a favorable conclusion on the creditworthiness of a potential borrower, a commercial bank decides on the possibility of issuing a loan and, focusing on the creditworthiness class, develops the terms of a loan agreement. This stage is also called loan structuring. In the process of structuring, the bank employee dealing with this loan determines the position of the bank in relation to the main parameters of the loan: type of loan, amount, term, collateral, interest rate, repayment scheme and other conditions.

The form of the loan is determined depending on the category of the borrower and the features of the event being financed. For example, when financing some long-term event and with a particularly trusting attitude towards the borrower, the bank can open a credit line for him.

The loan amount is usually individual, since it is determined financial needs and opportunities of the lender and the borrower. But the wrong definition of the loan amount can cause serious problems. If the amount is underestimated (for example, instead of the required 300 thousand rubles, 100 thousand rubles were received), then the borrower will soon need another 200 thousand rubles. and the original loan will not be repaid on time. The bank will have to choose between two equally unpleasant options: to provide additional credit or lose the money that has already been loaned out. Therefore, the bank, having received the client's calculations, must itself assess the required loan amount, making the necessary adjustments.

The longer the term of the loan, the higher the risk, the more likely that unforeseen difficulties will arise and the client will not be able to repay the debt in accordance with the agreement.

Ultimately, the term of the loan-lending transaction determines the time limits for the use of the loaned funds and settlements for the repayment and payment of the loan. The specific terms of transactions are always the result of a compromise between the divergent interests of the lender and the borrower. But despite the individual nature of each contractual agreement, in banking a certain unification is applied, which results in loans and credits for 1-2-3-6-9-12 months.

The interest rate on the loan is determined by both parties independently and depends on the cost of credit resources, the nature of the loan and the degree of risk associated with it. Typically, rates are ranked depending on the calculated credit class of the borrower. In cases where the creditworthiness of a customer cannot be assessed with sufficient accuracy, rates bank lending are closely linked to the availability and reliability of loan collateral.

The procedure for repaying the loan is determined by the bank in agreement with the client, depending on the amount and regularity of profit, usually quarterly. To do this, a loan repayment schedule is developed. The correct timing of debt repayment also has a major impact on the success of a loan transaction. If the bank determines too tight loan repayment terms, then the borrower may be left without the capital necessary for normal functioning, and profits will not grow as originally planned.

The bank must determine the deadline for repayment of the loan with the exact date of repayment entered into the agreement and provide for the conditions for extending the repayment period (prolongation) in case of late receipt of funds.

When choosing collateral, the bank should be guided by the main provisions. But in any case, the issue of collateral should be resolved after the loan transaction is considered acceptable to the bank.

5. Conclusion of a loan agreement and registration of the borrower's credit file. Having made a positive decision on issuing a loan and structuring the loan, the bank negotiates with the client and develops a compromise agreement that suits both parties. At the same time, the bank must take into account the degree of financial constraint of the borrower, the availability of alternative sources of credit from competing credit institutions. If the client's room for maneuver is limited, the bank may insist on stricter conditions in terms of repayment terms, collateral, loan costs, etc.

Loan agreement - this is a detailed document that is signed by the participants in a credit transaction and which contains detailed description all terms of the loan. At the same time, the bank must have a written decision of the board of the bank certifying the authority of officials to sign the agreement. The credit file must contain:

• 1. Application for a loan of the established form.
• 2. Articles of association, memorandum of association, decision to register an enterprise, sample signature card, tax inspection registration card.
• 3. The last annual (quarterly) balance with appendices 2 and 5 and the balance for the last day of the worked month with a mark.
• 4. Financial plan profit and loss for the coming quarter (a copy of the plan submitted to the tax office).
• 5. Feasibility study financial transaction for which a loan is requested, the expected profit from its implementation with a detailed calculation of the cost (costs) of the transaction, linking the profit from the transaction with the results of the work of the entire enterprise.
• 6. Copies of agreements, contracts, protocols of intent, payment documents confirming the reality of the transaction, the project.
• 7. Draft agreement on pledge with a list of property offered as a pledge, or other documents that ensure the repayment of the loan (guarantee, etc.).
• 8. Coordination with the KUGI, if the enterprise has a share of state ownership.
• 9. In case of obtaining a loan for new construction:
  • a) Certificate of the person who owns the ownership of the land plot under construction, the nature and duration of this right;
  • b) Permission of local authorities for construction, reconstruction;
  • c) Data on the availability of an approved project documentation and the conclusion of non-departmental expertise, including environmental.
• 10. Audit report for the last 2-3 years of work for enterprises foreign investment and joint-stock companies, for the rest - in the case of large loans.
• 11. Loan agreement with a mandatory lawyer's visa.
• 12. A detailed conclusion on the advisability of issuing a loan by an expert employee (head of the loan department).
• 13. Questionnaire of the client.
• 14. Urgent obligation on the date of repayment of the loan, a card with sample signatures, executed and certified in the prescribed manner, permission to open a loan account.

Also, in order to better control the progress of repayment of the loan, the credit file contains correspondence on the loan (client's correspondence, telephone conversations, etc.) and current materials on the client's creditworthiness (information received from other banks, telephone inquiries, etc.). ), as well as other financial and economic information (financial reports, analytical tables, loan repayment schedules, etc.).

It would be good to introduce clients who receive a loan from the bank with the Criminal Code of the Russian Federation, or rather, with two articles: Art. 176 and 177. Under Article 176 "Illegal receipt of a loan", obtaining a loan or preferential lending terms by providing the bank with knowingly false information about the financial situation of the client is punishable by a fine of 200 to 500 minimum dimensions wages, arrest from 4 to 6 months or imprisonment from 2 to 5 years. Article 177 "Malicious evasion of repayment credit debt" provides for a fine in the amount of 200 to 500 minimum wages, compulsory work for a period of 185 to 240 hours, arrest from 4 to 6 months or imprisonment for up to 2 years.

All documents on the borrower's credit case are filed in a folder, on the cover of which the name of the borrower, the number of the loan agreement, the date of its conclusion, the code, the number of the loan account in the bank are indicated.

A loan agreement can be considered concluded only from the moment a certain amount is provided. It is at this moment, but not earlier, that the client's obligation to repay the loan arises. Usually, a bank provides a customer with a loan by crediting the appropriate amount at a time or in installments to the customer's settlement (or other) account.

Under the loan agreement, the client is obliged to repay the received loan on time, pay the bank interest for using the loan, not evade bank control, and not worsen its economic and financial condition, comply with the intended purpose of the loan received, provide and guarantee the availability of collateral under the loan agreement for the entire loan term, i.е. until the day the loan is actually repaid.

For violation of the deadline for repayment of the received loan, the client is obliged to pay to the bank increased interest which should also be noted in the contract. But this has a significant drawback, because as a result, the overdue debt begins to grow at double payment rates with the transfer of overdue interest to the same account of overdue loans, followed by interest on interest.

According to internationally recognized standards of bank lending, interest accrual on debt overdue beyond a certain period of time is terminated. In domestic practice, this problem has not been solved so far, and the "Regulation on the procedure for calculating interest" excludes the possibility of terminating accruals on overdue loans. One of the options for solving the problem for the bank is to include sanctions for late payment in the form of fines and penalties in lending agreements. Replacing the payment of arrears by higher rates one-time fines, the bank gets the opportunity to transfer the fees charged for an overdue loan to the accounts of debtors and thus avoid accruing interest on interest.

After completing all the procedures for drawing up and signing a loan agreement in the accounting department, in order to carry out all calculations for issuing loan repayment, accrual and collection of interest, the bank's loan department transfers an urgent obligation on the loan repayment date, signed by the head, chief accountant and certified by the borrower's seal, as well as an order on opening a loan account with reference to the number and date of the loan agreement, indicating the type of loan, its code. Based on these documents, enterprises open special and simple loan accounts.

From special loan accounts, loans are provided to trade and supply and marketing organizations (for the payment of wages, for making payments to the budget, etc.). The loan is repaid by transferring funds from the sale of products to the credit of the special loan account, as well as by systematic or episodic write-off of funds from the borrower's current account.

From simple loan accounts, loans are issued to other borrowers to pay for purchased inventory items and services, for temporary needs. The loan is repaid in an indisputable manner from the borrower's current account upon the maturity of the loan specified in the obligation. Moreover, an enterprise can have several loan accounts if it uses several loans at the same time.

In the bank's balance sheet, these accounts are included in the "Credit Settlement Operations" section, the nomenclature of which corresponds to the indicators of the credit plan. If there are no funds on the borrower's current account on the loan repayment date, then the loan is classified as overdue and is recorded on the overdue loans account. At the same time, one personal account is opened for each borrower.

When the borrower pays the amount, the interest is paid first, then the overdue debt, and the remaining amount is used to repay the urgent payment. To calculate interest on loans, personal accounts are opened by objects (credit codes), by the terms of use of the loan and by the amount of interest rates. When calculating interest, the interest rate is divided by the number of days in a year (360 days), the resulting number is multiplied by the balance of the debt and the number of days in the period for which interest is paid.

Ultimately, the conditions for issuing a loan, as well as its accounting and repayment, depend on the lending methods used, which are based on the mutual benefit of a loan transaction for the client and for the bank, and are negotiated when concluding a loan agreement.

6. Control over the fulfillment of the terms of the contract and repayment of the loan (credit marketing). This is also a very important step in the lending process, since its ultimate goal is to ensure that the principal and interest on the loan are repaid on time. At this stage, the bank controls the regularity of receipt of interest for the use of the loan, conducts scheduled and unscheduled inspections on the ground with the preparation of an inspection report.

In the course of such inspections, the compliance of the loan spending with its intended purpose, provided for in the loan agreement, is monitored. In addition, the bank checks invoices, contracts for the sale of inventory items, examines extracts from the borrower's bank and the balance sheet as of the last reporting date.

Further, the loan officer of the bank acquaints the borrower with the act or certificate of the audit. The loan officer regularly notes in the credit position the movement of debt on the loan, the receipt of interest on it and informs the client's bank, if necessary.

In the event of a deterioration in the financial situation of the client and the risk of non-repayment of the loan, the loan officer informs his management about this in order to take appropriate measures. The appearance of a problem loan is usually not unexpected: an experienced financier can detect signs of danger long before the client's inability to repay the loan becomes apparent.

Careful analysis financial reporting compared to previous reports, reveals such alarming signals as a sharp increase in receivables, a decrease in liquidity ratios, a drop in sales, losses from operations, etc.

Bad symptoms are the failure to submit information or financial reports requested by the bank on time, the avoidance of telephone and personal contacts with the bank by the company's managers, the client's fascination with the creation of new enterprises or the purchase of real estate, the accumulation of speculative stocks, the loss of important clients, etc.

Much can be said credit department the behavior of the borrower's business partners (inquiries about the solvency of its suppliers, cancellation of insurance by an insurance company) or the communication of other departments of the bank (for example, the appearance of a balance on the client's account at this bank).

If a bank discovers a bad loan that is fraught with default, it must act immediately. The best way out is to discuss matters with the borrower and develop a coping program crisis situation. This option is more preferable than declaring the borrower bankrupt. Litigation of the borrower may have a negative effect if the latter proves that the actions of the bank caused him damage and brought him to bankruptcy.

If the client can be convinced that the situation can be corrected, the bank may offer to sell assets, reduce staff, reduce overhead costs, change the marketing strategy, change the company's management, etc. Banks can also (though still rarely) use more advanced methods of controlling the state of affairs of the borrower in the form of joint activities with him or even equity participation in a joint stock company.

7. Repayment of the loan with interest and closure of the credit case This is the final stage of the bank's credit relationship with the borrower. As a rule, 2-4 weeks before the loan maturity, the loan officer contacts the borrower and clarifies the loan repayment prospects.

If the client asks for an extension, then he is obliged to send an official letter to the bank within five days, detailing the reasons for not repaying the loan on time. With a positive decision on the prolongation of the loan, an additional agreement is drawn up to the loan agreement. This document indicates the new loan repayment terms and the interest rate (if changed). When the loan is due to be repaid, the loan officer checks the fact of its repayment and the correctness of the listed interest according to the accounting documents. If necessary, the liquidation of the debt is carried out by issuing a collection order for an indisputable write-off of funds with interest due.

In the event of an overdue debt, the following procedure applies:

• - In case of transfer of the loan to the account of overdue loans, the loan officer draws up a memorandum indicating the reasons and prospects for repayment of the debt;
• - Within a week, the debtor is sent a letter of claim for the return of the loan, which is transferred to the management of this enterprise or sent by registered mail to the legal address of the enterprise. After a 2-month period, if the loan is not repaid, according to the current legislation, the case is referred to arbitration or to the court.

After the full repayment of the loan and the corresponding interest, the credit business is closed. On a separate sheet, the dates of issuance and repayment of the loan, calculations for the calculation of interest and the dates of their transfer are indicated (the sheet is filed in the file). Further on this sheet, a note is made "the loan was returned in full with interest, credit case No. __ is closed (closing date)".

The mark is certified by the signatures of the loan officer and the chief accountant of the bank, and the head of the planning and economic department of the bank makes a mark on the transfer of the loan file to the archive, where it is stored for three years from the date of its closure.

bank loan borrower

In modern economic literature, there are two main interpretations of the origin of the word "credit". Some economists believe that this concept originates from the Latin word credit, which means “he believes” (or from the word credo Ї believe). Others associate its appearance with the Latin term creditum, which translates as a loan (debt).

In practice, credit relations are the transfer for use of material values ​​in cash or commodity form on terms of repayment, urgency and payment, which is carried out in the form of specific credit transactions, the forms and conditions of which are very diverse.

The subjects of credit relations are the lender and the borrower. They can be any legally independent persons and capable citizens who are able to bear material responsibility for the obligations of a credit transaction.

The lender is the subject of credit relations, transferring the value for temporary use, and the borrower is the subject receiving the loan and obliged to repay it within the prescribed period. Within the framework of credit relations, they can change roles: the lender can become a borrower, and the borrower can become a lender.

The object of a credit transaction is the loaned value, that is, the value in cash or commodity form, which the lender transfers for temporary use to the borrower.

The role of credit in market economy hard to overestimate. Credit ensures the transformation of money capital into loan capital, and expresses the relationship between creditors and borrowers. With its help, free money capital and income of enterprises, the private sector and the state are accumulated, converted into loan capital, which is transferred for a fee for temporary use.

Capital, physically, in the form of means of production, cannot flow from one industry to another. This process is usually carried out in the form of a movement of money capital. Therefore, a loan in a market economy is necessary, first of all, as an elastic mechanism for the transfer of capital from one sector to another and equalization of the rate of profit.

Credit resolves the contradiction between the need for the free transfer of capital from one branch of production to another and the fixation of production capital in a certain physical form. It also makes it possible to overcome the limitations of individual capital. At the same time, a loan is necessary to maintain the continuity of the circulation of funds of operating enterprises, to service the process of selling industrial goods.

Loan capital is redistributed between industries, rushing, taking into account market guidelines, to those areas that provide higher profits or are given preference in accordance with national programs.

The credit is capable of exerting an active influence on the volume and structure of the money supply, payment turnover, and the velocity of money circulation. Thanks to the loan, there is a faster process of profit capitalization, and, consequently, the concentration of production.

The economic role of the loan is to redistribute the value on the basis of payment, urgency, security and return. A feature of credit redistribution is its "temporary" nature. The redistribution of value is carried out in the time interval between the issuance of goods ( financial resources) to the borrower and their return to the creditor. In other words, at the expense of free funds of some economic entities, the needs for funds of other entities are satisfied.

It is accepted to allocate the following functions of the loan:

• * distributive;
• * replacing (replaces money in circulation);
• * stimulating;
• * control.

These functions of the loan are closely interrelated and in their totality reflect economic role lending as such. Let's consider them in more detail.

• - distributive function of credit. It follows from the very essence and role of credit relations. As a result of credit redistribution, the attraction of new funds to the economic sphere is accelerating. When implementing this function of the loan, both cash and commodity resources are redistributed;
• - money replacement function. In essence, credit creates money for non-cash circulation. Credit means - bills of exchange, checks, credit cards etc. - begin to replace real money in the sphere of circulation;
• - stimulating function of credit. By changing the volume of lending operations, banks and banking system in general, they can influence the dynamics of the total amount of money in circulation. It uses two possible methods: credit expansion (credit expansion) and credit restriction (credit contraction).
• - credit control function. It consists in the fact that in the process of lending, mutual control (of both the lender and the borrower) is carried out over the use and repayment of the loan. There is a significant difference in the performance of the control function of the loan by the lender and by the borrower. The lender has the ability to exercise control over both the object of the loan and the activities of the borrower. The borrower does not have the ability to control the activities of the creditor, he only controls the movement of the loan taken (ie, controls only the object of credit relations).

Through the implementation of their functions, credit relations actively influence the processes of reproduction and capital accumulation both at the macro- and microeconomic levels.

All credit functions are interconnected, their interaction ensures the stability of credit relations. If desired, a wider range of loan functions can be distinguished, such as: free funds, regulation of money circulation, saving distribution costs, etc. But it is the four functions that we have discussed above that are the main ones.

The main principles of lending include urgency and repayment, target character, material security, payment.

Urgency and repayment means that the loan provided to the borrower must be repaid within the period specified in the loan agreement.

The target nature of the loan, its purpose is determined, first of all, by the borrower, however, when allocating a loan, the bank also proceeds from its purpose, from a specific lending object, from a specific project. Compliance with the principle of the targeted direction of the loan ensures its repayment within the established timeframes, since these timeframes are designed for the performance of certain business operations.

The principle of financial security of lending means that the borrower must implement the financed project, purchase those inventory items or pay the costs for which the loan was issued.

It is traditionally customary to classify a loan according to several basic criteria. The most important of these include the category of lender and borrower, as well as the form in which a particular loan is provided.

Based on this, the following six fairly independent forms of credit should be distinguished, each of which, in turn, is divided into several varieties according to more detailed classification parameters.

1. Bank loan one of the most common forms of credit relations in the economy, the object of which is the process of transferring money to a loan. A bank loan is provided exclusively by financial institutions licensed to carry out such operations from Central Bank. Acting as a borrower legal entities, the instrument of credit relations is a credit agreement. The bank receives income from this form of loan in the form of loan interest or bank interest.

A bank loan is classified according to a number of criteria:

• 1. By maturity:
  • - Short-term loans are provided to fill the temporary shortage of the borrower's own working capital. Up to a year. The interest rate on these loans is inversely proportional to the repayment period of the loan. Short-term credit serves the sphere of circulation.
  • - Medium-term loans are provided for a period of one to five years for production and commercial purposes.
  • - Long-term loans are used in investment purposes. They serve the movement of fixed assets, differing in large volumes of transferred credit resources. They are used for crediting reconstruction, technical re-equipment, new construction at enterprises of all spheres of activity. Long-term loans received special development in capital construction, fuel and energy complex. Average maturity over 10 years.
  • - On-call loans that are repayable within a fixed period upon receipt of formal notice from the lender (the repayment period is not initially specified).
• 2. By means of repayment.
• - Loans repaid in a lump sum by the borrower. This is the traditional form of repayment of short-term loans, which is optimal, because does not require the use of a differentiated interest mechanism.
• - Loans repaid in installments over the entire term of the loan agreement. Specific conditions for the return are determined by the contract. Always used for long-term loans.
• 3. According to the methods of collecting loan interest.
• - Loans, the interest on which is paid at the time of its total repayment.
• - Loans, the interest on which is paid in equal installments by the borrower during the entire term of the loan agreement.
• - Loans, the interest on which is withheld by the bank at the time of the direct issuance of the loan to the borrower.
• 4. According to the methods of granting a loan.
• - Compensatory loans directed to the current account of the borrower to compensate the latter for his own expenses, incl. advance character.
• - Paid loans. In this case, loans are received directly to pay for settlement and monetary documents presented to the borrower for repayment.
• 5. By lending methods.
• - One-time loans provided on time and in the amount stipulated in the agreement concluded by the parties.

A legal obligation of a bank to a borrower to provide him with loans within a certain period of time within the agreed limit is called a credit line.

Credit lines are:

• · Revolving - this is a firm obligation of the bank to issue a loan to a client who is experiencing a temporary shortage of working capital. The borrower, having repaid part of the loan, can expect to receive a new loan within the established limit and the term of the agreement.
• · a seasonal credit line is provided by the bank if the company periodically has a need for working capital associated with seasonal cyclicality or the need to create stocks in the warehouse.

Overdraft is short term loan, which is provided by debiting funds from the client's account, in excess of the account balance. As a result, a debit balance is formed on the client's account. An overdraft is a negative balance on a client's current account. An overdraft may be permitted, i.e. previously agreed with the bank and not authorized when the customer writes a check or payment document without permission from the bank. Overdraft interest is calculated daily on the outstanding balance, and the client pays only for the amounts actually used by him.

• 6. By types of interest rates.
• - Loans with a fixed interest rate, which is set for the entire period of the loan and is not subject to revision. In this case, the borrower assumes the obligation to pay interest at a constant agreed rate for using the loan, regardless of changes in the situation on the interest rate market. Fixed interest rates applied to short-term loans.
• - Floating interest rates. These are rates that are constantly changing depending on the situation in the credit and financial markets.
• - Stepped. These interest rates are reviewed periodically. Used during periods of high inflation.
• 7. By the number of credits.
• - Loans provided by one bank.
• - Syndicated loans provided by two or more lenders, united in a syndicate, to one borrower.
• - Parallel loans, in this case, each bank negotiates with the client separately, and then, after agreeing with the borrower on the terms of the transaction, a general agreement is concluded.
• 8. Availability of collateral.
• - Trust loans, the only form of security for the return of which is a loan agreement. This type of loan does not have specific collateral and therefore is provided, as a rule, to first-class creditworthiness customers with whom the bank has long-term ties and has no claims on previously issued loans.
• - Contract credit. A checking loan is issued using a checking account, which is opened to customers with whom the bank has a long-term relationship of trust, companies with an exceptionally high credit reputation.
• - Pledge agreement. Pledge of property (movable and immovable) means that the creditor-mortgagor has the right to sell this property if the obligation secured by the pledge is not fulfilled. The pledge must ensure not only the repayment of the loan, but also the payment of the appropriate interest and penalties under the contract provided for in case of non-performance.
• - Contract of guarantee. Under this agreement, the guarantor is obliged to the creditor of another person (borrower, debtor) to be responsible for the fulfillment by the latter of his obligation. The borrower and the guarantor are liable to the creditor as solidary debtors.
• - Guarantee. This is a special type of surety agreement to secure an obligation between legal entities. Any financially stable legal entity can be a guarantor.
• - Insurance of credit risks. An enterprise-borrower concludes an insurance contract with an insurance company, which provides that in case of failure to repay the loan within the established period, the insurer pays to the bank that issued the loan compensation in the amount of 50 to 90% of the loan amount not repaid by the borrower, including interest for using the loan.
• 9. Purpose of the loan.
• - Loans of a general nature, used by the borrower at his own discretion to meet any need for financial resources.
• - Target loans, which imply the need for the borrower to use the resources allocated by the bank solely for solving the problems specified by the terms of the loan agreement.
• 10. Categories of potential borrowers.
• - Agrarian loans, their characteristic feature is a pronounced seasonal nature, due to the specifics of agricultural production.
• - Commercial loans provided to economic entities operating in the field of trade and services. They make up the bulk of credit operations of Russian banks.
• - Loans to intermediaries on the stock exchange, provided by banks to brokerage, brokerage and dealer firms engaged in transactions for the purchase and sale of securities.
• - Mortgage loans. They are issued for the purchase or construction of housing, or the purchase of land. Banks and specialized credit and financial institutions provide loans. The loan is issued in installments. The interest ranges from 15 to 30% per annum.
• 2. International credit is both private and public in nature, reflecting the movement of loan capital in the field of international economic and monetary and financial relations.
• 3. Commercial loan.

Commercial credit can be described as credit provided in the form of goods by sellers to buyers in the form of a deferred payment for goods sold. It is provided against the obligations of the debtor (buyer) to repay within a certain period of time both the principal amount and accrued interest.

The use of commercial credit requires the seller to have sufficient reserve capital in case of a slowdown in receipts from debtors.

There are five main ways to provide a commercial loan:

• 1. bill method;
• 2. open account;
• 3. discount subject to payment within a certain period;
• 4. seasonal credit;
• 5. consignment.

In addition to bank and commercial loans, there are also:

• 4. consumer credit, as a rule, is provided by trading companies, banks and specialized financial institutions for the purchase of goods and services by the population with installment payment.
• 5. State credit should be divided into government loan and public debt. In the first case, state credit institutions (banks and other credit and financial institutions) lend to various sectors of the economy. In the second case, the state borrows money from banks and other financial institutions in the capital market to finance budget deficit and public debt. At the same time, government bonds are bought by the population, legal entities, various enterprises and companies.
• 6. The usurious credit persists as an anachronism in a number of developing countries where it is underdeveloped credit system. Usually such a loan is issued individuals, change offices, some banks.

It goes without saying that any of these methods may be most effective in specific market conditions. Choosing the most efficient way - the main task credit policy of each corporation.

The above classification is considered to be traditional. In the Republic of Kazakhstan, there is a slightly different classification:

• 1. by terms of provision:
  • - short-term (up to 1 year);
  • - medium-term (from 1 to 3 years);
  • - long-term (over 3 years);
• 2. by objects of lending:
  • - lending to replenish working capital;
  • - lending for the renewal and acquisition of fixed capital;
• 3. by lending methods:
  • - lending on the balance;
  • - lending by turnover.