Degressive Easy

Loan amount
Up to 2,000,000 AMD or equivalent foreign currency
Loan currency
AMD
USD
Annual interest rate
In case of AMD minimum 24%.
In case of USD minimum 22%.
Each month the annual interest rate decreases by 1%
Loan term
Max. 18 months
Commission fee
In case of AMD, flat fee, in the amount of 2.5%.
In case of USD, flat fee, in the amount of 2%.
Attention! The interests are calculated on the degressive loan balance.
Attention! It is possible to define a loan repayment flexible schedule depending on the peculiarities of the financed activity. Early loan redemption is possible for which no fines and penalties are charged.
Borrower requirements
Resident sole entrepreneur.
Corporate entity.
Loan redemption procedure
Monthly.
Equally (annuitant), or
Non-equally (differential),
At the end of tenor.
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.
Unacceptable guarantee.
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
Overdue Loan 0.2% of the unpaid amount for each overdue day
Overdue Interest 0.4% of the unpaid amount for each overdue day
Attention! In case of not making the interest and loan amount repayments on time, the pledged estate can be confiscated, and the information about the Borrower and/or the Guarantor(s) will be recorded in the loan register.
Attention! In case of not performing the loan liabilities and repaying the liabilities in the account of the collateral, in case of the collateral being not enough to repay the Borrower’s loan liabilities, it is possible to make liabilities repayment on the account of another property of the Borrower and/or Guarantor(s).
Documents presented by individuals

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 presented by legal entities

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).

Attention! In case of failure to repay the interest and the principal on time, the mortgaged property may be confiscated, and the information about the Borrower and/or the Guarantor/s will be recorded in the loan register.
Loan amount
Interest rate calculation procedure
Loan agreement termination
Pledge subject for the Bank
Overdue loan and overdue interest
Documents required for loan grant
Negative conclusion grounds on loan case are
Security
Pledged estate sales rules
Loan amount
Up to 2,000,000 AMD or equivalent foreign currency
Loan currency
AMD
USD
Annual interest rate
In case of AMD minimum 24%.
In case of USD minimum 22%.
Each month the annual interest rate decreases by 1%
Loan term
Max. 18 months
Commission fee
In case of AMD, flat fee, in the amount of 2.5%.
In case of USD, flat fee, in the amount of 2%.
Attention! The interests are calculated on the degressive loan balance.
Attention! It is possible to define a loan repayment flexible schedule depending on the peculiarities of the financed activity. Early loan redemption is possible for which no fines and penalties are charged.
Borrower requirements
Resident sole entrepreneur.
Corporate entity.
Loan redemption procedure
Monthly.
Equally (annuitant), or
Non-equally (differential),
At the end of tenor.
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.
Unacceptable guarantee.
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
Overdue Loan 0.2% of the unpaid amount for each overdue day
Overdue Interest 0.4% of the unpaid amount for each overdue day
Attention! In case of not making the interest and loan amount repayments on time, the pledged estate can be confiscated, and the information about the Borrower and/or the Guarantor(s) will be recorded in the loan register.
Attention! In case of not performing the loan liabilities and repaying the liabilities in the account of the collateral, in case of the collateral being not enough to repay the Borrower’s loan liabilities, it is possible to make liabilities repayment on the account of another property of the Borrower and/or Guarantor(s).
Documents presented by individuals

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 presented by legal entities

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).

Attention! In case of failure to repay the interest and the principal on time, the mortgaged property may be confiscated, and the information about the Borrower and/or the Guarantor/s will be recorded in the loan register.
Loan amount
Interest rate calculation procedure
Loan agreement termination
Pledge subject for the Bank
Overdue loan and overdue interest
Documents required for loan grant
Negative conclusion grounds on loan case are
Security
Pledged estate sales rules
Last modified on Thursday, 27 October 2016 16:31