Conditions
Loan purpose
 
Loans provided for economic, commercial, service rendering, business expansion and development purposes.
Loan amount
Up to 6,000,000 AMD or equivalent foreign currency
Loan currency
 
AMD USD
Annual interest rate
 
In case of AMD minimum 18%. In case of USD minimum 15%.
Loan term
Maximum 48 months
Security
 
At least the guaranty of 2 persons and collateral of real estate or chattels. The appraised value of the evaluated estate should make at least 50% of the loan amount.
Commission fee
 
Flat fee. 1% of loan amount.
Loan arrangement is realized
 
“ARMECONOMBANK” OJSC branches.
Demands
Borrower requirements
Resident sole entrepreneur, Corporate entity.
Loan redemption procedure
Monthly. Equally (annuitant), or Non-equally (differential), At the end of tenor.
Guarantee
The pledged chattels are obligatory subject to be secured. In case of real estate, the security is sold upon the Bank request. Insurances are realized by the insurance company having permission (license) from RA CB according to the tariff defined by the latter. The minimum of the pledged estate assessed value and loan amount is taken as a basis for the insurance.
Pledged estate appraisal
Is realized by any assessment organization licensed by RA legislation, according to the tariff determined by the latter.
Negative decision grounds
Negative assessment of the customer’s financial condition. Insufficient profitability of the presented project, insufficient argumentation of the loan purpose. Non-credibility of the presented documents. Unacceptable guaranty. Not presenting the required documents within the predefined timeframe. Negative conclusion of the loan register. Other basic reasons which according to the Bank assessment will hamper the loan repayment.
Attention! If an early repayment is made in the amount exceeding 20% of the Principle balance as of the first day of each month (which does not include repayment of the part of the loan envisaged by the repayment schedule of the given month) without the Bank's written consent, a penalty in the amount of 5% of the early repaid amount exceeding 20% of the balance of the Principle is applied.
Documents

Documents presented by legal entities
1. Copy of State Register certificate, transcript on the executive authority is mandatory.
2. State Register statement on participants, replacement of the director, and amendments to charter. In case of joint stock companies, statement on shareholders from Central Depository of Armenia OJSC and State Register statement on replacement of the director, and amendments to charter.
3. The documents listed in paragraph 1 are not required for corporate entities in case where the decision on borrowing may be made by the director.
4. Charter (reviewed).
5. Authority's decision on borrowing, and pledging property (necessary if the information listed in paragraph 2 is required).
6. Set of financial reports for the latest accounting period. If necessary, approved (sealed or stamped) by applicable tax authority (copy).
7. List of fixed assets (if necessary).
8. Tax code (copy); TIN.
9. Statement of settlements with State budget or statement on liabilities to State budget from the tax authority of relevant location (mandatory for loans exceeding AMD 10 mln or foreign currency equivalent thereof).
10. Statement of accounts receivable and payable (with breakdown if necessary).
11. Documents supporting the ownership right to the property offered as loan security.
12. Licenses (copy).
13. Passport (copy).
14. In case of pledging real estate, ownership certificate (copy);
15. In case of collateral owned by individual, certificate of marriage (divorce, death of spouse).
16. Bank account statement (if necessary).
17. Agreement (copy) with supplier and invoice for import of goods.
18. Statement on ban from Real Estate Cadastre Department (after lending decision).

Documents to be presented by sole entrepreneurs
1. Copy of State Register certificate,
2. Tax code (copy); TIN.
3. Statement of settlements with State budget (mandatory for loans exceeding AMD 10 mln or foreign currency equivalent thereof).
4. Statement of accounts receivable and payable (with breakdown if necessary).
5. Documents supporting the ownership right to the property offered as loan security.
6. Licenses (copy).
7. Passport (copy).
8. Certificate of marriage (divorce, death of spouse) (copy).
9. In case of pledging real estate, ownership certificate (copy).
10. Bank account statement (if necessary).
11. Agreement (copy) with supplier and invoice for import of goods.
12. Statement on ban from Real Estate Cadastre Department (after lending decision).

Հաշվիչ
Հավասարաչափ մարումներով
Results Արդյունք
N Վճարման ամսաթիվ Վարկի մնացորդ Վճարվող տոկոսագումար Մարում վարկից Ընդամենը վճարում
Մայր գումարի հավասարաչափ մարումներով
Results Արդյունք
N Վճարման ամսաթիվ Վարկի մնացորդ Վճարվող տոկոսագումար Մարում վարկից Ընդամենը վճարում
Updated: 19/06/2018 11:13