Conditions
Loan purpose
 Trade promotion
 
Activity period/tenor
 In case of trading no less than 3 months prior. In case of production and service sector no less than 6 months prior.
 
Minimum loan amount
 Starting from 10,000 USD (equivalent Euro)
 
Loan amount
Starting from 10,000 USD. The amount of the provided loan is conditioned and connected with: Loan purpose Customer's creditworthiness Loan security proposed by the customer Loan risk assessment Normative field requirements determined by the RA Central Bank and international agreements
 
Loan currency
 USD, EUR
 
Annual interest rate
6.5-9%
 
Loan term
 From 1-36 months
 
Security
 Real estate, Transportation means, Other security means acceptable to the Bank.
 
Loan to pledge value ratio 
 
 Maximum 75% 
 
Grant way
 Cashless. Flat fee.
 
Commission fee
 Without commission fees
 
Loan arrangement is realized
 “ARMECONOMBANK” OJSC branches
 
Decision Period
 For large loans up to 25 working days. For medium, small and micro loans up to 20 calendar days.
 
Demands
Borrower requirements
Resident corporate entity, Sole proprietor.
Loan redemption procedure
Monthly, Quarterly. Equally (annuitant), Non-equally (differential).
Guarantee
Mandatory, in case of transportation means. In case of real estate, while presenting the Bank claim. Security is realized by the insurance company licensed by RA CB, according to the tariff determined by the latter.
Pledged estate appraisal
In case of real estate and chattels, assessment is realized by any assessment organization licensed by RA legislation, according to the tariff determined by the latter.
Negative decision grounds
Inadequacy of the customer’s financial condition analysis results to the standards of this procedure and other internal legal acts at the moment of applying. Insufficient profitability and high risk of the presented project. Insufficient argumentation of the loan purpose. Non-credibility of the presented documents. Insufficient liquidity of loan security. Pollution or damage to the environment caused by customer’s activity. Other reasons which according to the Bank assessment will hamper the loan repayment. Customer’s negative credit history can also serve as a basis for negative conclusion on loan lending.
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).
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

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: 03/05/2018 14:58