The customer to be credited within the framework of the program shall be a private commercial organization or private entrepreneur (except for licensed activity (except for health, transport, education)) / or commercial organizations, with state participation, registered in the territory of the Republic of Armenia, which has a commercial activity for at least during one year preceding the submission of the loan application, and has a good credit and tax history, i.e.:
According to ACRA, during the 12 months preceding the loan application date, it did not have overdue loan liabilities of 30 cumulative days or more.
In regards to the customer:
a. No administrative proceedings have been instituted against the economic entity for collecting the unfulfilled tax liabilities during the 365 days prior to the filing date of the application, or
b. On the day of filing the application, the existing tax liabilities as of December 31, 2019 did not exceed 1% of the sum of the total amount of tax liabilities repaid from the joint treasury account in 2019, the amount of state duty paid in 2019 and the balance of the joint treasury account as of December 31, 2019.
The loans are provided for the following purpose:
AMD or foreign currency (the instrument of subsidizing for foreign currency loans can be used only if the borrower receives enough earnings in foreign currency to service the given loan as a result of his business activities).
Up to 60 months, but the subsidy defined by this program is implemented only for loans up to 24 months in AMD, and in the case of foreign currency loans - for a period of 6 months.
Grace period of the loan principal repayment
Up to 6 months in case of loans in AMD, and up to 3 months in case of loans in foreign currency.
In case of AMD - 250 mln AMD per economic entity, and in case of foreign currency lending - equivalent to 125 million AMD.
Maximum actual interest rate
12% per annum in AMD loans, and 9% per annum in foreign currency loans.
About the possible additional payments Loan tariffs