• Business credit lines are extended to sole proprietors and legal entities with uninterrupted business activity during the last one year
• Currency: AMD, foreign currency (amount is transferred to current account and can be cashed)
• Duration of credit: up to 24 months, no minimum duration
• Minimum amount: not defined
• Maximum amount: The maximum credit line amount is set based on the turnover of all accounts of the customer at the Bank, or the results of the financial analysis of the customer’s business. If based on account turnover, the amount of the credit line cannot exceed 70% of the average annual turnover of all accounts of the customer and related persons/entities at the Bank
• Interest on the used portion of the credit line: AMD 13-17%, USD 9-15%, EURO 7.5-12%, RUB 10-18%
• Interest on the unused portion of the credit line: AMD and foreign currency - 0-3%
• Interest accrues based on used and unused portions of the credit line
• The credit line is extended on non-cash terms
• Repayments are made at maturity
• Security: real estate and movable property, guarantees, precious metals, goods in circulation, cash and equivalents, etc
• The sum of the lump sum of the loan and the interests of 12 months shall not exceed 83.33% of the assessed value of the collateral

• Decisions to provide a loan or reject the provision thereof are based on assessments of the customer’s credit capacity/creditworthiness,
• Loan applications are processed within 20 banking days after receipt of the application and all supporting documents,
• The decision is communicated to the customer within 1 banking day,
• The loan is disbursed within three working days after receipt of all necessary documents and completion of collateral registration procedures,
• By depositing funds to the relevant credit account during the validity of the credit line, the customer may perform repayments of the calculated interest amounts and used loan amounts,
• In case of repayment of the used amounts during the validity of the credit line, the loan amounts are recovered in the size of the repaid part of used loan amounts,
• For foreign currency loans, changes in currency conversion rates may affect the amounts of loan repayment,

• In case of fluctuations of the interest rates of the funds, attracted or placed by the Bank in the financial market and/or change of the financing interest rate and/or availability of such preconditions and/or use of the loan by the Borrower not for the purpose, the Bank may unilaterally change the interest rates and commission fees, specified by the agreement, by notifying the Borrower 30 calendar days in advance.

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.