Procedures and Services

PAYMENT SCHEDULE FOR SOCIAL SECURITY PENSIONERS AND RETIREES FOR BRANCHES OF THE BANCO POPULAR DE AHORRO IN 2019.

• Collection on account of third parties
- Social Security
- Taxes and other ONAT contributions
- Compensation Box
- Nursing Home or Grandparent's Home
- Fines
• CADECA operations: purchase and sale of Cuban Pesos (CUP) and Cuban Convertible Pesos (CUC)
• Exchange of foreign currencies for CUC

Financing to Own-account Workers (TCP)

Financing is preferably requested at the Branch of the municipality of residence, according to identity document, although the possibility that the request may be made at the Branch closest to the place where the business is located can be assessed. (Hired workers are not objects of financing).
Those who are from the Holguín municipality in the closest branch of their residence, according to identity document.

Why can they request financing?

They can request it for working capital, their objective is for the acquisition of raw materials, materials, and other services. This can be paid with a term of 12 months according to the analysis of the credit committee and for investments that aim to modernize, repair and purchase equipment.
We must clarify that the request for financing must be on par with the activity of the TCP, for example: if a TCP is a landlord, it must request financing for this activity and not to repair a cafeteria.

Legal documentation to present:

- Identification document

- Credit Application Form

- Authorization that accredits you to carry out the activity on your own account or other form of Non-State Management

- Transport operation license granted by the State Traffic Unit of the Province or the Isla de la Juventud Special Municipality, for cargo or passenger carriers

- Registration in the Taxpayer Registry at the National Tax Administration Office (ONAT) of the municipality

- Last proof of tax payment prior to the request for financing (for the use of the Workforce, on sales or services, on personal income and contribution to Social Security), if applicable

- Financial Statements or Records Control of Income and Expenses, according to the level of income, if applicable

- Summary Model of Income and Expenses for the last six months

- Affidavits of joint and several guarantors in the event of this form of guarantee

- Construction License or Work Authorization, both issued by the Municipal Directorate of Physical Planning, in those cases where construction actions and home repairs are going to be financed and it is appropriate. It will be taken into account that conservation actions and construction authorizations in homes that do not modify the façade or affect the load and the structure of the building do not require a Construction License or Work Authorization, in accordance with the provisions of Resolution No. 54 / 14 of the Physical Planning Institute and Decree-Law No. 322 dated July 31, 2014.

- Others that the Bank considers necessary for the analysis

How much can a TCP request for financing?

The minimum amount to request is 1 000.00 CUP, the maximum is in correspondence with its analysis of the client's ability to pay and the guarantees it presents.

Guarantees they can present:

Joint and several guarantors:

They can be workers, Retirees or another TCP.

Account pledge:

It can be a savings account, future account, fixed-term deposit or certificate of deposit in national currency.

Mortgage:

Only the houses destined to rest or summer and barren lots.

Garment:

Jewelry, jewelry or any other metal or precious stone asset.

Heritage assets: Categorized of value one (1) in the National Registry of Cultural Assets of the Republic of Cuba.

Motor vehicles

Agricultural goods: Cattle, tractors and self-propelled harvesters.

Benefits in requesting financing in our branches

- These clients are served in a personalized way, in addition to that in each branch there is a specialist trained to advise the client.

- Current Accounts in Cuban pesos (CUP) and / or convertible pesos (CUC) may be opened.

- The minimum amount for opening the current account is 200.00 pesos for those of CUP and 50.00 pesos for those of CUC.

Documents to present:

- Application form signed by the interested party (See Annex I)

- Identification document

- Official document that authorizes the natural person to carry out the activity on their own account, or other forms of non-state management, issued by the competent authority and a photocopy of the same

- Certification issued by the Office of Land Control through which the legal possession of land is accredited, in the case of small farmers

- Resolution issued by the municipal delegate of agriculture in the cases of land usufructuaries

- Registration in the Taxpayer Registry in correspondence with the provisions of the current special legislation, if applicable

- Others that the Bank may consider necessary, taking into account the aspects established in the Regulations of Current Accounts of Banco Popular de Ahorro

Transfer of Property

The Popular Savings Bank, in representation of the State and attending to the functions that are granted to it by the General Law of the Housing, transfers the properties of the state houses, in the pertinent cases, by means of an installment sale contract, in which the buyer becomes a debtor of the State for the amount of the legal price of the house, payable in fixed monthly payments, this also includes the collection of the debts for the price of the houses to the beneficiaries of this Law.

Management Check for Purchase or Compensation in Home Exchange Contracts

By virtue of Decree Law 288 of October 28, 2011, which establishes the Purchase and Sale Act or the Compensation in Home Swap Contracts and the implementation of Resolution 85/2011 of the BCC, the Bank regulates the issuance of management checks in CUP to natural persons for this purpose. The procedure established by the Bank makes it easier for interested persons to request a cashier's check at any bank branch.

Financing modalities

Loan

Money granted by the bank, under contractual conditions, for a certain time, which is taken entirely by the customer.

Credit line
Financing capacity, which the client takes in parts, as needed, according to a contract and for a specified time.

Financial Leasing
Financing that is formalized in a lease agreement between the property's owner and the bank, which will use it within an agreed term, by paying a certain fee. Once this period has ended, the client acquires the property in property.

Factoring or factoring
Set of services, supported by the transfer to the bank of the documentary collection rights held by the transferors over third parties. It may include the following services: collection management, financial advice for the administration of the client portfolio and financing.

Funding Destination:

Working Capital
It includes the short-term resource needs of companies for the acquisition of raw materials, materials, wages, services, etc.

Investments
It covers the medium and long-term financing requirements derived from its needs for application and / or modernization of installed capacities.

Guarantee
- Debit notes of the account in the bank where it operates: Debit authorizations in account. They are called notes because they are not a payment instrument as such, but they create an obligation for the bank to make the payment according to the specifications it carries.
- Letters guaranteed by the bank where the debtor operates or domiciled. Title- value that obliges to pay a debt at maturity in a specific place in favor of whoever is its legitimate holder. Unconditional payment order.
- Bank Guarantee: Commitment of a banking institution to pay, at the creditor's first demand, the amount due and not paid by the debtor.
- Assignment of a sales contract to customers: Credit Rights that will be assigned in a sale contract. It can also occur in relation to leasing and service contracts. Creditor, the past due amount not paid by the debtor.
- Fixed term deposit certificates: They can be used as guarantees, as long as the amount and time for which they are agreed cover the terms of the financing contract.

The financing request must include:
General information

* Company name and code
* Address
* Phones
* Resolution of the creation of the entity
* Appointment of the director
* License to operate currencies (in case the credit is in CUC)
* Main customers
* Explanation of the company's activity
* Organism

Information on your economic activity

* Financial statements for the last two years and the last updated closing
* Last updated closure
* Actual and projected cash flow
* Destination of the requested financing as well as:
* Amount
* Weather
* Amortization methods proposed
* Guarantees offered

Small Farmers
The subjects of financing considered agricultural producers, will be granted to fulfill and / or increase their production plans:

Financing of production: to defray the current expenses of each activity.

Investment financing: to defray the costs of acquisition or construction of fixed assets, capital repairs thereof, as well as the promotion, renovation (repositions in the case of sugar cane), rehabilitation of permanent plantations and land conditioning, installation and assembly of hydraulic systems (sprinkling and irrigation), as well as construction of dams, micro-dams, milkings and micro-milkings, whose execution must be contracted with third parties due to their size.

Documentation to present:
- Endorsement of the maximum leader of the production unit to which he is linked.
- If you are an owner: Certificate of Legal Land Tenure, issued by the Office of Land Control.
- If you are a beneficial owner of Decree - Law No. 125/1991: Certificate of Legal Land Tenure, issued by the Office of Land Control.
- If you are a usufructuary of Decree - Law No. 300/2012: Certificate of Legal Land Tenure, issued by the Office of Land Control, Resolution approved by the Municipal Delegate of Agriculture and the Agreement signed between it and the usufructuary .
- Other documents that are requested at the Bank's interest.

Guarantee:
Joint and several guarantors:
They may be state workers.

Account pledge:
It can be a savings account, future account, fixed-term deposit or certificate of deposit in national currency.

Mortgage:
Only the houses destined for rest or summertime and waste lots

Garment:
Jewelry, jewelry or any other metal or precious stone asset.

Heritage assets:Categorized of value one (1) in the National Registry of Cultural Assets of the Republic of Cuba.

Motor vehicles

Agricultural goods: Cattle, tractors and self-propelled harvesters.

Other services

Local letter of credit

Payment instrument whereby the Buyer's and Seller's Banks carry out the payment and collection actions, respectively; previous agreement between buyer and seller through contract on its use and the presentation of the agreed documents for payment.

Direct debit
Service through which wages can be charged by magnetic cards in CUP and CUC, minimizing risks to the entity in the transfer of cash, also giving customers the possibility of paying debts directly discounted.

Financial Advice
The bank provides clients with all kinds of financial advice and this service is free of charge.