Commercial loan/ credit line provided by account turnover
Conditions
Loan purpose 
Loans provided for economic, commercial, service rendering, business expansion and development purposes.
Loan type 
Commercial
Loan amount 
AMD 100.000-3.000.000  or equivalent currency, moreover the maximum amount of the loan may amount to maximum 30% of the customer's bank account turnover implemented in the last year (if the account opening date is less than a year, then the calculation is made for the given period). Furthermore, while calculating the turnover of the account the loans, borrowings, as well as other such kind of debts  credited to the customer's account will not be taken into account.  
Loan currency 
AMD ,Foreign currency
Loan term 
6-24 months
Annual interest rate
In case of loan in AMD 17-19%, in case of loan in USD 15-17%, in case of loan in EUR 13-15%, in case of credit line in AMD 18-20%, in case of credit line in USD 16-18%, in case of credit line in EUR 14-16%.
Security
Cash facilities available on the customer's account and at least the guaranty of 2 individuals
Commission fee 
Flat fee -  1% of the loan amount.
Loan arrangement is realized
ARMECONOMBANK OJSC Head office and branches
Decision period
Up to 2 working days
Demands
Borrower requirements
Resident sole entrepreneur, Corporate entit, Bank account.
Loan redemption procedure
Monthly - Equally (annuitant), or non-equally (differential), It is possible to define a loan repayment flexible schedule depending on the peculiarities of the financed activity.
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.  Insufficient liquidity of the loan security  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.
Penalties
For the overdue amount of any outstanding (loan, interest, other charges) term defined in the contract, a penalty of 0.13 per cent of the overdue amount is charged (daily).
Documents

Documents to be presented by legal entities 

1. Copy of State Register certificate, transcript on the executive authority is mandatory or a statement given by Unified State Register (the latter may not be required if the Bank receives the given information electronically in defined order).

2. State Register statement on participants, replacement of the director, and amendments to charter (the information may not be required if the Bank receives the given information electronically in defined order). 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 (the information may not be required if the Bank receives the given information electronically in defined order). The documents listed in paragraph 2.1 are not required for corporate entities in case where the decision on borrowing may be made by the director.

3. Charter (reviewed) (the document may not be required if the Bank receives the given information electronically in defined order)

4. Authority's decision on borrowing, and pledging property (necessary if the information listed in paragraph 2 is required).

5. Set of financial reports for the latest accounting period. If necessary, approved (sealed or stamped) by applicable tax authority (copy).

6. 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).

7. List of fixed assets (if necessary).

8. Tax code (copy); TIN.,

9. Licenses (copy), if any.

10. Passport (copy),

11. Documents supporting the ownership right to the property offered as loan security.

12. In case of collateral owned by individual, certificate of marriage (divorce, death of spouse).

13. Bank account statement (if necessary).

14. Statement of accounts receivable and payable (with breakdown if necessary)

15.Statement on ban from Real Estate Cadastre Department (after lending decision)

Documents to be presented by sole entrepreneurs 

1. Copy of State Register certificate, transcript on the executive authority is mandatory or a statement given by Unified State Register (the latter may not be required if the Bank receives the given information electronically in defined order).

2. Tax code (copy); TIN.

3. Set of financial reports for the latest accounting period. If necessary, approved (sealed or stamped) by applicable tax authority (copy).

4. 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).

5. Licenses (copy), if any.

6. Passport (copy),

7. Documents supporting the ownership right to the property offered as loan security.

8. In case of collateral owned by individual, certificate of marriage (divorce, death of spouse).

9. Bank account statement (if necessary).

10. Statement of accounts receivable and payable (with breakdown if necessary)

11. 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: 20/09/2018 14:35