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Real estate renovation micro loans are provided to the resident individuals of Armenia over 18 years old, who will not reach the pension age during the whole period of the loan validity. Real estate renovation micro loans are provided on the territory of the RA except the center community of Yerevan, with the purpose of improving the living conditions.
- Copy of the charter, copy of the registration certificate of the State Registry of Legal Entities (with insets) or copy of reference, copy of TIN (if required),1
- License (in case of activities, subject to licensing),
- Reports (financial statements, income statements (for the last 6 months), tax reports), submitted electronically to the tax authority during the last 12 months and notification on acceptance of reports.2
The documents, specified for the applicant shall be submitted also by the co-borrower /in case there is a co-borrower/.
1 The documents are required, if the data or documents are missing or are incorrect in the database of the state registry of the RA Ministry of Justice.
2 The reports shall contain the note “True with the original”, they shall be signed and bear the date. If the customer is a legal entity, the specified reports shall be signed by the director or authorized person of the legal entity, as well as they shall bear the round seal of the legal entity.
In case of having no account with the Bank, it is required to submit also the documents (originals) for the opening of an account with “ACBA-CREDIT AGRICOLE BANK” CJSC.
The renovation works shall be finished not later than within one year upon provision of the loan.
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.
Համավարկառուն պետք է հանդիսանա ռեզիդենտ ՀՀ քաղաքացի: Համավարկառուները վարկային պարտավորությունների շրջանակներում կրում են վարկառուի միևնույն պատասխանատվությունները: