Notice on interim measures

Dear Clients,

Microcredit Foundation SUNRISE has, in accordance with the decisions of the banking agencies of the Federation of BiH and Republic of Srpska, prepared a set of measures to mitigate adverse economic consequences to clients whose credit capability has been reduced or endangered by the viral disease of COVID-19.

The temporary measures that MCF SUNRISE can offer you are:

The moratorium represents a deferral of the payment of all credit obligations for the duration of the moratorium.

A moratorium may be granted for the duration of:

– from 1 to 6 months for loans disbursed in the offices of Republic of Srpska;

– from 1 to 12 months for loans disbursed in the offices of the Federation of BiH.

Before defining an adequate modality of loan repayment for each client of the Foundation, which is directly or indirectly affected by the extraordinary circumstances, and as a consequence of the measures related to the restriction of movement and protection of the population, the Foundation may approve a temporary moratorium on the client’s request.

For loans granted in the representative offices of the Foundation in the Federation of BiH, a temporary moratorium may be granted by 31.07.2020.

For loans granted in the representative offices of the Foundation in Republic of Srpska, a temporary moratorium may be granted on 22.07.2020.

For eligible customers, the Foundation will approve the moratorium under the following conditions:

– Deferral of payment of all due credit obligations to MCF SUNRISE for the period of the moratorium;

– Extension of the loan repayment deadline for the period of the moratorium granted;

– For the duration of the moratorium, MCF SUNRISE does not calculate the penalties;

– On the basis of the approved moratorium, MCF SUNRISE does not charge compensation or any additional costs;

– During the period of the moratorium, the rating in the Central Credit Register per loan in MCF SUNRISE shall be equal to the rating given on 29th of February, 2020.

– During the duration of the moratoria the client has the possibility to submit a request for approval of other temporary measures that correspond to his financial capabilities (e.g., a request to refinance a loan, or a request for disbursement of additional funds under favorable conditions.

– In all cases when the Foundation approves the moratorium, total cost for the client by the approved moratorium will not exceed the amount the client will pay on the current repayment schedule.

The client who has been granted a moratorium may voluntarily waive the moratorium during or after the moratorium expires if he pays all overdue annuities, after which the repayment of the loan will continue under the repayment plan of the Credit Agreement provided that the moratorium is waived and all co-debtors, if any.

The loan rescheduling implies changes to the contracted loan terms, such as changes to the loan repayment period and the change of the loan installment.

Loan rescheduling can extend the repayment deadline of up to 12 months compared to the deadline for repayment of the loan at the current repayment schedule.

Loan rescheduling can grant the client a deferral of payment of principal (grace period) up to 6 months, during which period the client pays only regular interest.

In the case when the rescheduling is approved as a first temporary measure, the total cost for the client will not be greater than the amount that the client will pay on the current repayment schedule.

This provisional measure implies that the client may apply for a loan for additional funds to overcome the difficulties caused by the pandemic of the COVID virus disease – 19.

The Foundation will approve the loan for additional funds in extremely favorable conditions, which implies a considerably lower interest rate compared to the active loan (up to 20%), the possibility of using the grace period up to 6 months, and without the cost for the loan processing.

APPLICATION FOR PROVISIONAL MEASURES

When contracting temporary measures, the Foundation shall not charge additional fees for the performed services or fees associated with the modification of credit liabilities.

The total cost for the client, upon approval of the moratoria or reprogram, will not be greater than the amount that the client will pay on the current repayment schedule, and may be determined in a smaller amount, in accordance with the decisions of the Foundation.

Interest rates will not increase on any basis and will be the same as in the original contract, or lower.

In case the client has other participants in the loan, they must submit a request for approval of one of the temporary measures, in a manner prescribed for the client.

The Foundation will not reschedule already rescheduled loans.

All mentioned measures are intended for clients who are directly or indirectly affected by the consequences of the viral disease Covid-19.

An application for approval of one of the provisional measures can be submitted in person at the nearest office of MCF SUNRISE, or in one of the following ways: by filling out the form on our website, via SMS, email, or via our official Facebook page.

Each client’s request will be approached with special care by the Foundation and clients will be informed of the decision made.

For the realization of any of the temporary measures, it is necessary to give consent to all participants in the loan (the beneficiary of the loan and the borrower, if any). If any of the participants on the loan do not consent to the approved temporary measure, the temporary measure will not be activated, and the loan repayment will continue according to the repayment schedule of the original loan agreement.

The Foundation recommends that clients consult their loan officer before or when applying with their credit officer to find the most advantageous measure for the client.

All offices of the MCF SUNRISE are open. Working hours of office in FBiH are from Monday to Friday from 08:00 to 16:30 hours, and in Republic of Srpska, on the same days from 08:00 to 16:00 hours. In the month of June 2020, all offices of the Foundation will work on Saturdays from 09:00 to 14:00 hours.

A list of offices and phone numbers can be found at the following link: http://microsunrise.ba/poslovnice/

Request for one of the temporary measures the client can fill out using the following link: click here

or contact MF Sunrise in one of the following ways:

– by SMS (phone number of your loan officer);

– By mail: MF SUNRISE, Zagrebačka 50, 71 000 Sarajevo;

– By e-mail: sunrise@microsunrise.ba;

– Via messages on the Foundation’s social networks: Facebook page or Instagram.

Upon receipt of the request, the client will be contacted by the competent loan officer, who will inform him/her of the need to provide additional documentation. After considering the application, MCF SUNRISE will decide on the application and inform the borrower and co-borrowers, if any.

For any additional questions, interested customers can contact the loan officer who processed the loan or call the toll-free number of MCF SUNRISE: 0800 30 565.

Sincerely,

MCF SUNRISE