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

BUSINESS LOAN “SPECIAL”


MAXIMUM AMOUNT

500 000 USD
250.000.000 AMD

ANNUUAL INTEREST RATE

8.5% in case of USD
11% in case of AMD

TERMS

Up to 60 months


Business loan “Special”

Purpose

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

Requirements to the borrower

  • Private Entrepreneur or Legal Entity
  • Business period of at least 12 months
  • Positive loan history, in accordance with Bank's Credit Policy

Loan currency

AMD

USD

Minimum amount of the loan

25 000 000

50 000

Maximum amount of the loan

250 000 000

500 000

The minimum annual interest rate of the loan up to 24 months

11 %

8.5 %

The minimum annual interest rate of the loan up to 48 months

11.5 %

8.8%

The minimum annual interest rate of the loan up to 60 months

12 %

9 %

Maximum loan term

60 months

Collateral

Movable (vehicles) and immovable property, commodity stocks, working capital, etc.

Loan/collateral ratio

  • Maximum 70% in accordance with Bank's Credit Policy.
  • Movable and immovable property, including machinery, working capital; in case of accepting as one general collateral, the loan amount should not exceed the market value of the pledged immovable property.

The loan interest rate is calculated on the declining loan balance. The Bank does not intend to change the nominal interest rate during the term of the loan agreement, unless the borrower violates the terms of the agreement. In the case of foreign currency loans, changes in foreign exchange rates can affect the repayment of the loan.

Loan commission fee

1% /lump sum/

Procedure for providing a loan

The loan provision method is cashless.

Loan repayment procedure

  • Equal, annuity or adjusted schedule of principal repayment, including repayments with a grace period of up to 6 months, depending on the characteristics of the business.
  • Monthly interest repayment

Repayment Order

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

Penalties

  • In case of delaying the loan and interest rate repayments for two and more following working days, the borrower is charged with a monthly penalty of 2% of the overdue amount.
  • In the case of early repayment of the loan, from the date of loan disbursement up to and including the 36th month of the loan term, if a payment is made that exceeds three times the principal amount specified in the loan repayment schedule, a penalty of 4% will be charged on the excess amount. From the 37th month of the loan term, no penalty for early repayment will be applied.

Attention! In case of non-timely repayment of interest and loan amount, the pledged property can be confiscated, and the borrower's information can be registered in the credit register. In case of non-fulfillment of credit obligations and repayment of liabilities at the expense of collateral, and if the collateral is not sufficient to cover the borrower's credit obligations, repayment of liabilities at the expense of the borrower’s other property is possible.

Loan application review fee

10 000 AMD

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