Tel.: (374 10) 20 28 22
 
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Services
BUSINESS LOANS
This product is intended for small and medium enterprises, which immediately need resources to replenish the working capital and make investments.
 
Services

Loan for business development

 

Conditions Decription
Borrower Private entrepreneur,  Legal entity
Application fee 5 000 AMD 
Currency of the credit USD
Credit amount USD 250 – 60,000 
Loan maturity 3-36 months  replenishment of the working capital and capital investments
In the case of credit line up to 11years
Periodic repayments of credit amount and interest amount 
Once a month.
-Each year in January and February, grace period on loan principal repayment is defined. During mentioned months the borrower pays only interest payments.
-Grace period on loan principal repayment can also be defined after 3 moths loan is disbursed, based on the mutual agreement between confirmation cycle and borrower. 
Annual interest rate
  • For loans up to 10 000 USD (including) 9 %, except for loans under the credit lines (exceeding 10 000 USD)
  • 10 000  USD (more) and for loans under the credit lines (exceeding 10 000 USD) 12% 
Existence of active business
  • At least 3 months
Loan repayment methodology Loan repayment methodology is based on the peculiarity  of each 
Monthly service payment  
  • 0,5 % (only for loans up to 10 000 USD), except for loans under the credit lines (exceeding 10 000 USD)
  • In the case of prepaid loans, the fee is charged according to the number of days used
Loan security (collateral) type 
  • Real estate
  • Mobile property
  • Guarantee (in addition to the property collateral), as additional security 
Loan/security ratio  70%  for real estate 
 40%-60%  for mobile estate, according to it’s liquidity
Loan disbursement up-front fee 3 %, but not more than AMD 450,000 paid at the moment of loan disbursement
Security -In case of mobile property the borrower must insure the mobile property based on the decision Credit Committee by loan amount or collateral market cost amount in one of the  insurance companies suggested by Organization or chosen by the borrower. The borrower has insurance costs for the collateral insurance, according to insurance rate, which is 0.5-2.5 % of the loan amount or collateral market cost amount during the loan maturity. 
-In case of breaking collateral inurance conditions according to the collateral contract, Organization may demand early loan repayment. 
Repayment of overdue liabilities For each delayed day a penalty in the amount of 0.3% of the overdue amount shall be accrued starting from the first overdue day.
 
Borrower must pay a charge for each overdue payment:
 

  • In case of loan contracts up to AMD 500.000 or USD 2000, AMD 3000
  • In case of loan contracts  500.001- AMD 1.000.000 or  USD 2001- 3500 AMD 5000
  • In case of loan contracts AMD 1.000.000- 1.500.000 or  USD 3501- 5000 AMD 7500
  •  In case of loan contracts AMD 1.500.000 - USD 2.000.000  or 5001-7000, AMD 10000
  • In case of loan contracts more than AMD 2.000.000 or USD 7000, AMD 15000
In case of failing the obligations, if collateral is not enough to fullfill the obligation, obligation  can be fullfilled by other property owned. 
 

ATTENTION
 
YOUR PROPERTY MAY BE EXPROPRIATED, IF YOU FAIL TO MAKE REPAYMENTS OF YOUR LOAN AND INTERESTS ON TIME.
 
ATTENTION
 
IF YOU FAIL TO MAKE THE REPAYMENTS ON TIME THE INFORMATION ABOUT YOU SHALL BE REGISTERED IN THE CREDIT REGISTER.
Conditions of early (including partial) loan repayment In case the borrower pays off the loan fully during 4 months after loan disbursement, fee is charged in amount of 1 % of early paid amount. In other cases there is no fee charged 
Loan disbursement methodology Cash or Bank transfer to the borrower’s bank account number or to SEF’s transit account.
Approval period 7 working days after receiving all required documents
Factors impacting the loan extension • Peculiarities of the economic activities carried out by the borrower
• Financial indicators of the borrower's activity
• History and current state of the credit's business activity
• Credit history    
• Capacity of paying the loan and interest amounts, credit risk
• Compliance with SEF’s requirements of internal regulations
Loan term The loan is disbursed by theloan agreement and  after the legal registration of pledge agreement during one day, if nothing else is provided between the creditor and the company
Loan confirmation cycle Is established by other internal regulations
Loan formulation place  SEF International UCO's branches
Fluctuations of the foreign currency rate may impact the loan repayments.
The clients that have no overdue days or have no more than 30  overdue days, are getting 1% discount on interest rate.


Sample Loan Repayment Schedule

 Credit amount
 (AMD)
Loan maturity
24 months 36 months
Montly repayments
5.000 253 184
15.000 713 505


For foreign currency loans the interest rates, late payment charges, as well as loan disbursement and service fees are paid in AMD, according to the law about Armenian dram currency regulation and foreign exchange control.

 Documents required for loan disbursement. 


For private entrepreneurs
  • Loan application
  • Passport and its photocopy of the borrower 
  • Borrower’s social security card and its photocopy
  • Private entrepreneur’s registration certificate
  • Tax code
  • License (if the borrower is engaged in activity that is requried a license)
  • Photocopy of marriage, divorce, death certificate
  • Certificate from borrower’s residention address statement (3rd form) or Passport office
  • Tax, financial and other reports
  • Applicant’s income statement
  • Certificates for other property owned 
  • Loan officer may require other documents concerning borrower’s solvency/credibility
  • Inquiries from Datalex system about civil, administrative, criminal, bankruptcy orders and payment terms
  • Inquiries from e-register.am and  taxservice.am system about business operating information
 
For legal entities
  • Loan application
  • State register certificate
  • Tax code
  • Legal entity’s decision for receiving the loan
  • Director’s passport and social security card
  • Shareholders’ passports and social security cards
  • License (if the borrower is engaged in an activity, which requries a license)
  • Bank account summery
  • Financial reports(Form 1-5)
  • Tax office certificate about payments
  • Loan officer may require other documents concerning borrower’s solvency.
  • Inquiries from Datalex system about civil, administrative, criminal, bankruptcy orders and payment terms
  • Inquiries from e-register.am and  taxservice.am system about business operating information 

 
Branches & Offices

Meghri Branch
26/26 Z. Andranik Street
Meghri
Sisian Branch
Israyelyan street 6/6
Sisian
Nor Bayazet Branch
Zoravar Andranik 31street
Gavar
Yerevan Branch
19/19 Yervand Kochar Street
Yerevan
All Branches
Updated: 02.08.2017(12:35)
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