Straight from the Dealer in a New Tractor: MONETA Allows Farmers to Get a Loan to Buy Equipment Paperlessly and Online

Straight from the Dealer in a New Tractor: MONETA Allows Farmers to Get a Loan to Buy Equipment Paperlessly and Online

Prague, 6 October 2021

Filling out the application in ten minutes, an offer with variable instalments according to the client's possibilities, digital signature of the contract using biometrics and very fast approval. These are the main advantages of the MONETA Smart Finance online system, which saves farmers time and nerves when buying equipment. In the last 12 months, MONETA has seen a 30% increase in the provision of loans for the purchase of agricultural equipment, amounting to CZK 0.5 billion.

"We want to enable our clients to drive away in a tractor directly from the dealer and not waste time on paperwork. Similarly, the Smart Finance app is a very useful tool for dealers. It significantly facilitates the loan approval process for dealers, who can model cost savings or a repayment plan for the buyer," explains Barbora Kobianova, MONETA Money Bank's Agriculture Sector Manager.

The simple and intuitive contract entry takes no more than 10 minutes and the latest online system will allow the contract to be approved within 1 minute if the process is automated. "A biometric signature is used when signing the contract. Everything is fully digitalized and secure at the same time," says Barbora Kobiánová, describing the process of arranging the loan and adding that applications are processed up to 100% of the purchase price of the agricultural machinery, including VAT.

The repayments can then be flexibly adjusted according to the farmer's seasonal income. At the same time, clients can take advantage of a subsidy program under the auspices of the Agricultural and Forestry Support and Guarantee Fund (PGRLF) "In accordance with the subsidy program from the PGRLF, it is possible to set a variable repayment period of up to 96 months. If the client wants to apply for a loan with an interest subsidy, we will arrange for the biometrically signed loan agreement to be automatically sent to the PGRLF, which removes additional administrative obstacles for the client," adds Barbora Kobianová.

MONETA has been financing one third of the Czech agricultural market for a long time. It is the leader in the Czech banking market in providing loans for the purchase of agricultural land and, among other unique products, offers farmers a loan for the purchase of land with a maturity of up to 30 years. As a leader in digital technology, MONETA offers farmers the fastest and easiest online route to arrange these loans.

For more information, please contact:

Zuzana Filipová, mob.: [phone], [e-mail]

Beaufort PR

Jan Cihlář, [phone], [e-mail] or Media Service [e-mail] and www.moneta.cz

MONETA Money Bank, a.s., which is the controlling person of MONETA holding, is a leading independent Czech bank, servicing clients through its nationwide branch network. The bank has been traded on the Prime Market of Prague Stock Exchange since 2016. The bank has focused on retail and SME oriented business model with a strong position in the consumer and agriculture segments. In addition, the bank provides customers with insurance products and investment funds. MONETA serves more than 13% of the Czech population via an omni-channel distribution strategy which includes 154 branches and 555 ATMs, a market-leading digital banking platform, a call centre, auto dealers, building society and mortgage bank, brokers and leasing partners.

For more information, please contact:

Zuzana Filipová, mob.: [phone], [e-mail]

Beaufort PR

Jan Cihlář, [phone], [e-mail] or Media Service [e-mail] and www.moneta.cz

MONETA Money Bank, a.s., which is the controlling person of MONETA holding, is a leading independent Czech bank, servicing clients through its nationwide branch network. The bank has been traded on the Prime Market of Prague Stock Exchange since 2016. The bank has focused on retail and SME oriented business model with a strong position in the consumer and agriculture segments. In addition, the bank provides customers with insurance products and investment funds. MONETA serves more than 13% of the Czech population via an omni-channel distribution strategy which includes 154 branches and 555 ATMs, a market-leading digital banking platform, a call centre, auto dealers, building society and mortgage bank, brokers and leasing partners.