Favorable lending conditions create wider business development opportunities for the small and medium-sized enterprises and private entrepreneurs. We offer specially designed credit programs for a particular group of customers based on market-specific business studies. This kind of approach ensures an active development for the SME and fulfils the customers’ expectations.

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Business loans

LOAN "NON-COLLATERAL+"

Loan "Non-Collateral+"

Intended Purpose

The loan is intended for business purposes, as well as for refinancing loans held at other banks.

Borrower Requirements

  • Legal entity
  • Business operation period — at least 6 months
  • No negative credit history, in accordance with the Bank's Credit Policy; no negative credit history among family members if they run a joint household

Loan Amount & Currency 

AMD

USD

Loan Amount

1,000,000 – 15,000,000

2,500 – 40,000

Minimum Annual Nominal Interest Rate

17%

12%

Loan Term

  • For working capital purposes — up to 48 months
  • For fixed asset acquisition and capital investments — up to 60 months

Monthly Service Fee /calculated on the outstanding loan balance/

0.25%

Collateral

At least 2 guarantors, one of whom must be either a real-estate owner or a person with a substantiated income. At least one guarantor must not be a family member of the borrower — i.e., must not run a joint household with the borrower.
Explanatory information on guarantees

The loan interest rate is calculated on the declining balance of the loan. The Bank does not envisage changing the nominal interest rate during the term of the loan agreement, provided the borrower does not violate the conditions set out in the agreement. For loans issued in foreign currency, changes in the exchange rate may affect loan repayments.

Loan Repayment Procedure

  • Principal: equal-installment, annuity, or customized schedule, including the possibility of a 6-month grace period, depending on the specifics of the business
  • Interest: repaid monthly

Repayment Order

Overdue obligations shall be repaid in the following order: accounts receivable, state duty, arbitration fee, court costs, penalty, interest, and loan principal.

Attention: Failure to make timely payments of interest and principal may result in the borrower's information being registered in the credit registry. In the event of failure to fulfill loan obligations, repayment may be enforced against the borrower's property.

Decision Timeline for Loan Application

3 business days after submission of the complete package of documents

Penalties

In the event of two or more consecutive business days of delay in loan and interest payments, the borrower will be charged a monthly penalty equal to 4% of the overdue amount.

Loan Application Review Fee

AMD 10,000

YOU HAVE THE RIGHT TO COMMUNICATE WITH THE BANK IN YOUR PREFERRED WAY: BY POSTAL OR ELECTRONIC MEANS. RECEIVING INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, FREE FROM THE RISK OF LOSS OF PAPER INFORMATION AND ENSURES CONFIDENTIALITY.

ACCOUNT STATEMENTS ARE PROVIDED FOR FREE.

Certificates and information regarding accounts (regardless of the number of accounts) are provided in Armenian, Russian, and English:

AMD 2,000 if the customer has been served by the Bank for 6 months or more.

AMD 5,000 if the customer:

a) has been served by the Bank for less than 6 months; or
b) has not been a customer of the Bank.

Duplicates are issued at the same rates.

The loan is provided at the Bank's Yerevan branches: "Byron", "Tiv 47", "Kentron", "Komitas", "Malatiya", and "Tashir Kentron", as well as at all branches located in the regions.

ATTENTION: In case of non-fulfillment or improper fulfillment of your obligations, the creditor will, after 1 business day (within a maximum period of three business days), submit this information to the credit bureau, where your credit history is formed. You have the right to obtain your credit history from the credit bureau free of charge once a year.

ATTENTION: A negative credit history may prevent you from obtaining credit in the future.

For the purposes of customer due diligence as defined by the Law of the Republic of Armenia "On Combating Money Laundering and Terrorism Financing", it may, based on the "Know Your Customer" ("Know your customer") principle, request additional documents or other information.

Under the Foreign Account Tax Compliance Act (FATCA) and the agreement concluded with the United States, the Bank may, in order to determine whether you are a U.S. taxpayer, carry out additional collection of information.

ATTENTION: You can find detailed information on the formation and use of your credit history, as well as the steps and requirements aimed at improving your credit history, by following the LINK .

Information Center: +374 10 59 55 55



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Updated: 10/08/18 17:14