Loans Provided for Agricultural Purposes (with estate collateration )
Conditions
Loan purpose 
Loans provided for the expansion and development of agricultural activities  
Loan type 
Agricultural  
Loan minimum amount 
Minimum AMD 100.000 or equivalent currency
Loan amount 
Minimum AMD 100.000 or equivalent currency. The loan amount is conditioned by and related to:  Purpose of the loan Customer's creditworthiness, Loan security offered by customer, Loan risk assessment, Regulatory requirements set by Central Bank of RA and by international agreements.
Loan currency 
AMD, USD 
Annual interest rate 
Minimum 15% for   AMD loans Minimum 13% for USD loans
,
Grace  period 
Maximum  9 months
Loan term 
1-60 months
Security
Chattels or real estate
Loan to pledge value ratio
Maximum -  60% 
Grant way 
By cash or cashless 
Loan arrangement is realized 
ARMECONOMBANK OJSC Head office and branches
Decision period 
For large loans up to 25 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. Resident corporate entity
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.The minimum of the pledged estate assessed value and loan amount is taken as a basis for the insurance.
Real estate appraisal
Is realized by any assessment organization licensed by RA legislation and cooperating with the Bank, according to the tariff determined by the latter, which may vary from: In case of car - AMD 15.00020.000 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 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).
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
NoteDocuments to be presented by legal entities 
PunctCopy 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).
PunctState 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).
PunctThe 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.
PunctCharter (reviewed) (the document may not be required if the Bank receives the given information electronically in defined order)
PunctAuthority's decision on borrowing, and pledging property (necessary if the information listed in paragraph 2 is required).
PunctSet of financial reports for the latest accounting period. If necessary, approved (sealed or stamped) by applicable tax authority (copy).
PunctStatement 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).
PunctList of fixed assets (if necessary).
 
PunctTax code (copy); TIN.,
PunctLicenses (copy), if any.
PunctPassport (copy),
PunctDocuments supporting the ownership right to the property offered as loan security.
PunctIn case of collateral owned by individual, certificate of marriage (divorce, death of spouse).
PunctBank account statement (if necessary).
PunctStatement of accounts receivable and payable (with breakdown if necessary)
PunctStatement 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: 25/07/2018 09:25