COMMERCIAL LOANS PROVIDED FOR RENEWABLE ENERGY DEVELOPMENT
Conditions
Loan purpose
 
For HES construction and rearmament
Loan type 
 
Commercial
Borrowers others incomes sources term of activities
 
In case of trade not less than 3 months prior, In the case of production and service, not less than 6 months prior
Loan amount 
 
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 -  In case of AMD maximum 10.5%  In case of foreign currency maximum 5.5% 
Loan term 
 
Minimum - 1 month Maximum - 12 years 
Security
 
Chattels or real estate Other pledge acceptable by the Bank
Loan to pledge value ratio
 
Maximum - 75% 
Grant way 
 
By Cash or cashless
Commission fee
Without commission fees
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.  Resident corporate entity Which have another income source apart from HES to be constructed
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Loan redemption procedure
Monthly. Equally (annuitant), or Non-equally (differential), At the end of tenor.
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
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 15.000-20.000  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 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

Documents to be presented by legal entities 

1. Copy of State Register certificate, transcript on the executive authority is mandatory (the document 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. 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 document may not be required if the Bank receives the given information electronically in defined order). The information listed in paragraph

    2.1 is 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);

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. Copies of construction, water usage and other necessary permissions

16. The conclusion of the Armenian-German "Renewable Energy Development" Fund Project financial and technical advisers;

17. 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 (the document 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 (mandatory for loans exceeding AMD 10 mln or foreign currency equivalent thereof);

5. Licenses (copy);

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. Copies of construction, water usage and other necessary permissions

12. The conclusion of the Armenian-German "Renewable Energy Development" Fund Project financial and technical advisers;

13. 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 14:51