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
Instant business loans

Conditions Description 
Borrower Private entrepreneur, Legal entity
Application fee 2.500 AMD 
Currency of the credit USD
Credit amount Up to USD 1.000
Loan maturity 6 months
Periodic repayments of credit amount  At the end of loan maturity
Periodic repayments of interest amount No interest amount is defined: only monthly payments fees and application fee are required 
Limitations Loan is disbursed only to business that have been active for at least las 12 months period 
Nominal interes rate  No interest rate is defined
Monthly payment fee   AMD 5.000   
In the case of prepaid loans, the fee is charged according to the number of days used
Loan repayment methodology Repayment of the loan and interests shall be performed on annuity basis (equal monthly installments – principle + interests). The interest rate shall be applied towards the reducing balance.
Security(collateral) type Acceptable standards for loan guarantors:

  • Guarantor is individuals who has not affiliated salary income with the borrower and whos net monthly salary is more than AMD 80.000 and who works in the workplace for at least 3 months 
  • Individual not affiliated with the borrower and who is 100% property owner.
  • Individual not affiliated with the borrower and who has or had AMD 500,000 loan and 20 days or less number of overdue days.
At least one guarantee has not affiliated salary income with the borrower 
 
Loan disbursement up-front fee 5%
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:


Օne-time penalty does not apply in the case when all the overdue amount does not exceed 500  AMD and pays during next business day.

In case of credit repayment fail, liabilities will be repaid with the means of borrower's other capital.  
 
ATTENTION 
YOUR PROPERTY MAY BE EXPROPRIATED IF YOU FAIL TO MAKE THE REPAYMENTS 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.
Loan disbursement methodology Cash or bank transfer to the borrower’s bank account number either to SEF’s transit account or by bank check.
Approval period 3 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 creditor'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
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  AMD 3000 charge for each overdue payment.
There is no one time fines if the borrower has overdue amount of less than or equal to AMD 500 and repays it the next day of the repayment day. 


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.
 

      Sample Loan Repayment Schedule:

Credit amount

 (USD)

  1.000 

Loan maturity 
6 months

Monthly payment Payment at the end of
loan maturity 
AMD 5.000  USD 1.000

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
  • Photocopy and original of the borrower’s passport 
  • Photocopy and original of the borrower’s social security card
  • Photocopy of marriage, divorce, death certificate
  • Private entrepreneur’s registration certificate
  • License (if the borrower is engaged in activity that is requried a license)
  • Certificate from borrower’s residention address statement (3rd form) or Passport office (if requred)
  • Tax, financial and other reports
  • Applicant’s income statement
  • Ownership certificates for boorower’s personal property (if requred)
  • 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 borrowing loan
  • Director’s passport and social security card
  • Shareholders’ passports and social security cards
  • License (if the borrower is engaged in activity that is requried obtaining 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

Yerevan Branch
19/19 Yervand Kochar Street
Yerevan
Noyemberyan Branch
Zoravar Andranik street 6/2
Noyemberyan
Vanadzor Branch
Tigran Mets avenue 59/1
Vanadzor
Abovyan Branch
Ogostos 23 street, 1/2
Abovyan
All Branches
Updated: 09.03.2017(16:46)
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