tbi bank is introducing a grace period of up to two months for eligible real estate developers affected by the unavailability of the land registry system following the recent cyberattack. The measure is intended to reduce temporary pressure on cash flows caused by delays in transactions and collections.

Through this financing solution for real estate developers, eligible clients can postpone the payment of installments related to existing loans intended for real estate projects. The grace period is available for as long as the land registry system remains unavailable.

The interest accrued during the grace period will be added to the loan principal and will be paid at the final maturity date.

“The current disruption has temporarily halted transactions and delayed developers’ collections for reasons that have nothing to do with their activity or financial strength,” said Alexandru Cosma, VP Banking For Partners, tbi bank. He stated that the measure gives developers the time needed to complete sales after the system resumes operation.

The measure targets real estate development loans

The facility is intended for clients who have existing financing for real estate developments and who are eligible for this measure.

Applications are assessed individually

tbi bank will assess each application based on the client’s financial situation and payment history. The grace period will be granted by signing an addendum to the loan agreement.

Eligible developers can contact their tbi bank representative for details and to submit their application.