Conditions
Loan purpose 
 
Replenishment of energy efficient fixed assets
 Loan type 
 
Commercial
 Loan amount 
 
AMD 1.000.000-500.000.000 
Loan currency 
 
AMD
Annual interest rate 
 
11%
 Loan term
 
1-60 months
 Security 
 
Movable or real estate, other pledge acceptable by the Bank
Loan to pledge value ratio
 
Maximum - 75 % 
 Grant way 
 
Cash and cashless, flat fee and by stages
Guaranty 
 
Flat fee 0.5% of the loan amount, but no more than AMD 100.000 
 Loan arrangement is realized
ARMECONOMBANK OJSC Head office and branches
 Decision period
 
For large  loans - up to 25 working days, For medium, small and micro loans - up to 20 working days (in case of collateral  the loan is provided within 2 working days following the receipt of registration right over the pledge)
Demands
Borrowers’ requirements
Resident sole entrepreneur.  Corporate entity In case of trade no less than 3 months prior. In case of production and service field no less than 6 months.
Loan redemption frequency and 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
Guaranty
 Real estate security is made by the customer at the insurance company licensed by RA CB, according to the tariff determined by the latter. The tariffs vary from 0.15-0.2% based on collateral type.  Insurance for cars is made by the customer at the insurance company licensed by RA CB, according to the tariff determined by the latter. The tariffs vary from 2.5-3 % of the loan amount The minimum of the pledged estate assessed value and loan amount is taken as a basis for the insurance
Real estate appraisal
Any assessment organization licensed by RA legislation and cooperating with the Bank, according to the tariff determined by the latter. The tariffs may vary from:  In case of car - AMD 15.000-20.000  In case of real estate - AMD 20.000-200.000
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 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).
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 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).

3. 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.

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

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. 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).

8. List of fixed assets (if necessary).

9. Tax code (copy); TIN.,

10. Licenses (copy), if any.

11. Passport (copy),

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

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

14. Bank account statement (if necessary).

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

16.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: 19/06/2018 11:17