General
Advantages
Loan type
Loan
Loan purpose
Expansion and development of entrepreneurial activities
Client
Individual entrepreneur resident of the Republic of Armenia, whose natural person is a citizen of the Republic of Armenia
Currency
AMD
Minimum loan amount
100,000
Maximum loan amount
10,000,000
Annual nominal interest rate /Type of interest rate: floating interest rate/
IBRR+5,7%
Annual effective interest rate /Type of interest rate: floating interest rate/
16.07%
Minimum/maximum loan term
60 months
Loan application review fee
Not specified
Loan origination fee
Not specified
Monthly loan servicing fee
Not specified
Grace period
Not specified
Loan and interest repayment method
Annuity - monthly equal payments of the principal amount of the loan and interest
Minimum period of business activity (continuous)
6 months
Bank account opening and maintenance fee (in case of providing a loan)
The bank account is opened free of charge and is serviced in accordance with the Bank's current rates, which are available at the link
Method of issuing and using the loan amount
The loan amount is provided non-cash, via transfer to bank account Bank.
The loan amount is cashed out from the bank account in accordance with the Bank's current rates, as specified at the following link Information bulletin on rates.
The loan amount is cashed out from the bank account in accordance with the Bank's current rates, as specified at the following link Information bulletin on rates.
Age restrictions for borrower/guarantor
Individual entrepreneurs must be at least 21 years old on the date the loan is issued and no older than 65 years old at the end of the loan term.
Credit history requirements for borrower/guarantor
Credit history acceptable to the Bank
Security
Creditworthiness assessment
Loan-to-value ratio (estimated liquidation value of collateral)
No collateral required
Insurance of collateral
No collateral required
Fines, penalties
Penalty for overdue loan - 0.1% per day
Penalty for overdue interest - 0.1% per day.
Penalty for early repayment of the loan amount: N/E
Penalty for overdue interest - 0.1% per day.
Penalty for early repayment of the loan amount: N/E
Where to apply and get a loan
All branches of the Bank
Positive factors for getting a loan
1) positive credit history,
2) steady cash flow,
3) good reputation,
4) other factors
2) steady cash flow,
3) good reputation,
4) other factors
Loan rejection factors
1) Poor credit history
2) Insufficient financial resources,
3) Provision of false or inaccurate information
4) Provision of information that casts doubt on the loan's repayability
5) Other factors
2) Insufficient financial resources,
3) Provision of false or inaccurate information
4) Provision of information that casts doubt on the loan's repayability
5) Other factors
Maximum decision-making period
5-10 minutes
Decision notification period
Immediately after the decision to issue a loan is made
Decision validity period
10 calendar days
The Bank has the right to refuse to grant a loan if the conditions considered necessary for a positive decision on granting a loan have changed (e.g., overdue obligations, seizure/freezing of bank accounts, etc.).
The Bank has the right to refuse to grant a loan if the conditions considered necessary for a positive decision on granting a loan have changed (e.g., overdue obligations, seizure/freezing of bank accounts, etc.).
Decision reapproval period
No right to reapproval (after the decision expires, a new application must be submitted)
Term for granting the loan
Maximum 10 calendar days after the decision to grant the loan is made
Required documents
Identity document
Public service number (or certificate of absence of public service number),
Extract from the State Register of Legal Entities of the Ministry of Justice of the Republic of Armenia on registration (copy),
Other documents, if necessary
Public service number (or certificate of absence of public service number),
Extract from the State Register of Legal Entities of the Ministry of Justice of the Republic of Armenia on registration (copy),
Other documents, if necessary
Information regarding credit history and credit score
You can learn about the importance of credit history and credit score here․
Details via abcfinance.am and acra.am links.
Details via abcfinance.am and acra.am links.
Information bulletin Apply now
The loan is provided without any commissions
The loan approval takes minutes to complete
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