ECOLOAN

Loan purpose
Replenishment of fixed assets
Loan amount
AMD 1.000.000 - 500.000.000
Loan currency
AMD
Annual interest rate
13,5%.
Loan term
Maximum 60 months
Security
pledge acceptable by the Bank
Valuation tariff
Upon the tariffs set by any assessment having a license designated by the RA legislation
Loan arrangement is realized
''ARMECONOMBANK '' OJSC branches and head office
Attention! The interests are calculated on the degressive loan balance.
Attention! The interest accrues on the degressive loan balance.
Borrower requirements
Resident Individual.
Legal 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 registe
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 legal entities

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 on liabilities to State budget (mandatory for loans exceeding AMD 10 mln or foreign currency equivalent thereo
  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
Security
Pledged estate sales rules
Loan purpose
Replenishment of fixed assets
Loan amount
AMD 1.000.000 - 500.000.000
Loan currency
AMD
Annual interest rate
13,5%.
Loan term
Maximum 60 months
Security
pledge acceptable by the Bank
Valuation tariff
Upon the tariffs set by any assessment having a license designated by the RA legislation
Loan arrangement is realized
''ARMECONOMBANK '' OJSC branches and head office
Attention! The interests are calculated on the degressive loan balance.
Attention! The interest accrues on the degressive loan balance.
Borrower requirements
Resident Individual.
Legal 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 registe
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 legal entities

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 on liabilities to State budget (mandatory for loans exceeding AMD 10 mln or foreign currency equivalent thereo
  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
Security
Pledged estate sales rules
Last modified on Wednesday, 31 August 2016 09:31