General
Advantages
Loan type
Loan
Loan purpose
Acquisition of working capital for cashless payments to suppliers by scanning a QR code generated by the IDdistributor app
Customer
Individual entrepreneur-resident of the RA
Currency
AMD
Minimum limit
100,000
Maximum limit
10,000,000
Minimum loan amount provided under the limit
10,000
Maximum loan amount provided under the limit
10,000,000
Annual nominal interest rate
15%
Annual effective interest rate
16,1%
Minimum/maximum term
2 months
Loan application fee
Not specified
Loan origination fee
Not specified
Monthly loan servicing fee
Not specified
Loan and interest repayment
Repayment of the principal amount of the loan and interest at the end of the loan agreement term
Minimum term of (continuous) business activity
6 months
Method of loan disbursement and use
The loan amount is provided by bank transfer to a bank account for the purpose specified in this information bulletin
Age restriction imposed on the borrower
Persons with individual entrepreneur status must be at least 21 years of age on the date the loan is issued and no older than 65 years of age at the end of the loan term
Requirements for the borrower's credit history (based on accepted loan obligations and guarantees provided)
1․ No overdue obligations for more than 9 days during the 3 months preceding the date of the loan issuance
Collateral
Creditworthiness assessment
Loan-to-value ratio (estimated liquid value of collateral)
No collateral required
Insurance of collateral
No collateral required
Fines, penalties
Penalty for late loan repayment: 0.1% per day
Penalty for late interest payment: 0.1% per day
Penalty for early repayment of the loan amount: not set
Penalty for late interest payment: 0.1% per day
Penalty for early repayment of the loan amount: not set
Place of application and loan processing
Via IDBusiness Mobile app
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) Negative credit history,
2) Insufficient financial resources,
3) Provision of false or inaccurate information,
4) Provision of information that casts doubt on the repayment of the loan
5) Other factors
2) Insufficient financial resources,
3) Provision of false or inaccurate information,
4) Provision of information that casts doubt on the repayment of the loan
5) Other factors
Maximum decision-making period
Up to 10 minutes
Period for notifying the customer of the decision
Immediately after the decision to grant a loan is made
Validity period of the decision
Maximum 10 minutes
Period for re-approval of the decision
No right to re-approval (after the decision expires, a new application must be submitted)
Loan disbursement time
Immediately after clicking the “Sign” button to obtain a loan in the IDBusiness Mobile app (within a maximum of 1 hour), but no later than within 1 (one) business day from the date of conclusion of the Agreement
Required documents
No additional documents are required when obtaining a loan within the credit limit
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 Rocket Distributor loan/credit limit is a method of obtaining an installment loan for individual entrepreneur clients, enabling them to acquire working capital necessary for business activities and pay for them at the end of the loan term.
The loan is provided for a period of 2 months.
The nominal interest rate of the loan is 15%. Taking into account the fact that there is no commission fee or other fees for the provision of the loan, the effective interest rate is 16.1%.
The credit limit can be provided to individual entrepreneurs who are residents of the Republic of Armenia and whose physical entity is a citizen of the Republic of Armenia. Moreover, the individual entrepreneur must have conducted continuous business activities for the previous 6 months and have an IDBusiness Mobile application.
The credit limit is reflected in the IDBusiness Mobile application of customers who meet the criteria specified in the Information Bulletin.
From a business perspective, the advantage of the product is the possibility of making deferred payments for the purchased goods/working capital. The supplier will receive the amount for the delivered goods immediately, but the customer will make the payment in 2 months. This can become the basis for long-term cooperation and mutual trust between the business and the supplier.
A customer whose Rocket Distributor credit limit is displayed in the IDBusiness mobile app can use it to pay for delivery of goods from suppliers partnering with the Bank.
The courier makes the payment by scanning the QR code generated in the IDDistributor app.
The courier makes the payment by scanning the QR code generated in the IDDistributor app.
A positive credit history, stable cash flows, good reputation, etc. can contribute to the approval of the limit.
A negative credit history, insufficient financial condition, provision of false or unreliable information, provision of information that casts doubt on the ability to repay the loan, etc. can hinder the approval of the limit.
You can find out more details/info on the Bank's website, and if you have any questions, please visit any branch of the Bank or call the Bank's call/contact center at 010 59 33 11, 010 59 33 33.
Apply now
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