Business credit lines

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Business credit lines

You need additional liquidity for working capital needs? ACBA-CREDIT AGRICOLE BANK offers you a credit line facility. Credit lines are extended to sole proprietors and legal entities with uninterrupted business activity during the last one year.

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Currency

AMD, foreign currency

Minimum amount

not defined

Duration of credit

up to 24 months

Interest rate

Maximum amount

Surety

Advantages

Terms and conditions

Required documents

Additional information

The repayment of the business credit line and interest amounts, calculated against it, is performed at the end of validity of the credit line.

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 15-19%, in foreign currency - 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

Copy of the personal identification document of the executive officer (director) and the chief accountant
State registration certificate with annexes
Certificates of ownership (lease contracts) of used premises
Copy of the charter
Decision of the authorized management body (general assembly of the company) to apply for the loan
Statement from state tax authorities about tax obligations
Copy of the taxpayer identification number (if taxpayer identification number not specified in the state registration certificate)
Reports last submitted electronically to tax authorities, as well as notification of receipt of the reports thereby. The reports should be marked as “Verified with original” (dated and signed). If the customer is a legal entity, the reports should also be signed by the executive (director) of the entity or an authorized official and sealed with the official (round) stamp of the entity.
Proof of ownership of property pledged as collateral
If the customer does not have a bank account at ACBA-CREDIT AGRICOLE BANK, documents required for opening an account (in original)

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.

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.

Advantages

The repayment of the business credit line and interest amounts, calculated against it, is performed at the end of validity of the credit line.

Terms and conditions

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 15-19%, in foreign currency - 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

Required documents

Copy of the personal identification document of the executive officer (director) and the chief accountant
State registration certificate with annexes
Certificates of ownership (lease contracts) of used premises
Copy of the charter
Decision of the authorized management body (general assembly of the company) to apply for the loan
Statement from state tax authorities about tax obligations
Copy of the taxpayer identification number (if taxpayer identification number not specified in the state registration certificate)
Reports last submitted electronically to tax authorities, as well as notification of receipt of the reports thereby. The reports should be marked as “Verified with original” (dated and signed). If the customer is a legal entity, the reports should also be signed by the executive (director) of the entity or an authorized official and sealed with the official (round) stamp of the entity.
Proof of ownership of property pledged as collateral
If the customer does not have a bank account at ACBA-CREDIT AGRICOLE BANK, documents required for opening an account (in original)

Additional information

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.

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

Appropriation of collateral

Information provided to the credit registry

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

In case of any inconsistencies between the published Armenian and English information, the Armenian version prevails.
Updated: 13.02.2019 12:07

82-84 Aram Street, Yerevan, Armenia

Tel: (+374 10) 31 88 88

Fax: (+374 10) 54 34 85

E-mail: acba@acba.am

Financial system mediator