• Overdrafts are provided to legal entities and sole proprietors
• The overdrafts are disbursed non-cash in AMD, USD, EUR (amount is transferred to current account and can be cashed)
• Maturity: up to 12 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 and related persons/entities. The amount of the credit line cannot exceed 50% of the previous 6 months’ average monthly turnover of all accounts of the customer and related persons/entities (excluding turnover from transactions between accounts of the customer and related persons/entities and turnover from loan repayments)
• Interest: AMD 15-19%, in foreign currency - 10-18% , applicable on the used portion of the overdraft
• Full repayment of the overdraft amount and accrued interest is due at maturity
• Within 25 calendar days after the end of each month, overdraft liabilities are payable in the amount of the used portion of the overdraft
• Interest accrues based on the used portion of the overdraft
• Acceptable security: future financial inflows, real estate, vehicles, agricultural and other machinery, equipments, cash and equivalents, gold, guarantees may also be required
• Overdraft applications are processed within 15 banking days after the receipt of the application and all supporting documents
• The sum of the overdraft and the interests of 12 months shall not exceed 83.33% of the assessed value of the collateral

Read more about loans commissions, fees and other applicable charges here

List of excluded and approvable activities

• Personal identification documents of the executive officer (director) and the chief accountant,
• Certificates of ownership (lease contracts),
• Decision of the authorized management body (general assembly of the company) to apply for the loan,
• Licenses, if applicable,
• Reports last submitted electronically to tax authorities, as well as notification of receipt of the reports thereby ¹
• Statement from tax authorities about tax obligations,
• Proof of ownership of property pledged as collateral
• Copy of the charter, copy of the state registration certificate of legal entities (with insets) or copy of the reference, copy of TIN (if required), ²
• Certificate from the state registry of legal entities, ^{3 and 5}
• Reference from registry, in case of a joint stock company (if required). ^{4 and 5}
  
• In case of not having an account with the Bank, it is required to submit also the documents (originals), required to open an account with ACBA BANK OJSC.
  
  

1 The note “Identical with the original” shall be made on the reports, they shall be signed and shall contain the date. If the customer is a legal entity, the specified reports shall be signed by the director of the legal entity or the authorized person, as well as they shall bear the seal of the legal entity.

2 The documents are required, if the data or documents are missing or are incorrect in the database of the RA Ministry of Justice.

3 The reference may be received from the Bank or from the agency of the RA Ministry of Justice.

4 The reference from the registry is not required, if the shares of the joint stock company are pledged in the Bank or the holding and maintenance of the register of the shares is performed by the Bank.

5 It can be submitted after the positive decision on provision of the loan, made by the Bank.