Credit lines are provided to legal entities and sole proprietors together with the Bank’s Visa Business cards.

• Currency: AMD, USD, EUR,
• Maturity: same as card validity period,
• Minimum amount: not applicable,

Maximum amount

*In the size of maximum 80% of the pledged funds

• Annual interest rate: 18-20% for AMD credit lines, 14-20% for foreign currency credit lines,
• Repayment frequency – The repayment of the used principal of the credit line is performed at the end of the card’s validity,
• In case of repayment of the used amount of the credit line, the credit line is recovered in the size of the repayment,
• The interest amount for the credit line is accrued on a daily basis against the used credit line,
• Security – real estate, vehicle (car), agricultural equipment, devices, funds, other material values, guarantees,
• The sum of the principals of the credit line and the interests of 12 months shall not exceed 83.33% of the assessed value of the collateral, if such is available. In case of credit lines, secured with funds, the size of the credit line may not exceed 80% of the funds, and if the currencies of the funds and the credit line are different, the size of the credit line may not exceed 60% of the funds.

• Identification documents of the Director and the Chief Accountant,
• Property Certificate (Lease Agreement),
• Decision of the authorized body (General Meeting) on taking a loan
• License (for licensed activities),
• Reference on liabilities from the Tax Inspection,
• Last reports, submitted to the Tax Inspection via email and notification on acceptance of reports, ¹
• Property Certificate of collateral,
• Copy of the charter, copy of the certificate of State Registry of Legal Entities (with insets) or copy of the certificate, copy of TIN (if required), ²
• Reference from State Registry of Legal Entities, _{3 and 5}
• Statement from Registry in case of joint-stock company (if required). ^{4 and 5}

In case of not having an account with the Bank, it is also necessary to submit the documents (originals), required for opening of an account with “ACBA BANK” OJSC.

_{1 The reports shall bear the note “True copy of original”, signature and date. If the customer is a legal entity, the specified reports shall be signed by the Director or an authorized person of the legal entity, as well as they shall bear the round stamp of the legal entity.
2 The documents are required, if in the database of the state registry of the RA Ministry of Justice, the data or documents are missing or are incorrect.
3 Reference may be received from the Bank or the agency of state registry of the RA Ministry of Justice.
4 No reference is required from the registry, if the shares of the joint-stock company are pledged in the Bank or the holding of the registry and maintenance of shares (stocks) is performed by the Bank.
5 May be submitted upon the Bank’s positive decision on provision of the loan.}

• The credit line amount is provided by depositing the amount on Visa Business payment card,
• The factor of positive decision on provision and rejection of the credit line is the assessment of the solvency of the customer,
• The decision on application on credit line is made within 20 banking days upon submission of the application and the package of required documents by the customer,
• The decision, made by the Bank, as a result of the discussion of the credit line application, shall be notified to the customer within 1 banking day,
• The loan is provided within 3 banking days upon submission by the customer of the complete package of documents, required for provision of a loan, and upon the end of the pledging process,
• During the validity of the credit line agreement of up to 10,000,000 AMD or an amount in foreign currency, no change of nominal interest rate is envisaged by the Bank,
• In case of fluctuations of the interest rates of the funds, attracted and placed by the Bank in the financial market, and/or in case of the change of the financing interest rates, and/or in case of the availability of such preconditions, and/or in case of non-target use of the loan by the Borrower, for the loan, exceeding 10,000,000 AMD or an equal amount in foreign currency, the Bank may unilaterally change the interest rates and commission fees, specified by the agreement, by notifying the Borrower at least 30 calendar days in advance,
• The credit line shall be registered in the branches of the Bank,
• No fines shall be collected for the early repayment of the credit line.

Read more:

• Penalties applicable in case of delinquencies against obligations of borrowers
• Independent appraisal companies cooperating with the Bank

Appropriation of collateral

PROPERTY PLEDGED AS COLLATERAL MAY BE SEIZED / APPROPRIATED IN CASE OF FAILURE BY THE BORROWER TO MAKE TIMELY REPAYMENTS OF LOAN AND INTEREST. WHERE COLLATERAL IS INSUFFICIENT TO MEET ALL RELEVANT OBLIGATIONS, RECOURSE MAY BE MADE TO OTHER PROPERTY OWNED BY THE BORROWER.

Information provided to the credit registry

IN CASE OF FAILURE BY THE BORROWER TO PAY INTEREST ON THE LOAN AND PRINCIPAL THEREOF IN ACCORDANCE WITH THE REPAYMENT SCHEDULE, INFORMATION ABOUT THE BORROWER WILL BE SUBMITTED TO THE CREDIT REGISTRY.

“BAD” CREDIT HISTORY MAY IMPAIR YOUR ABILITY TO OBTAIN LOANS / CREDITS IN THE FUTURE.