|
Conditions |
Description |
|
Borrower |
Private entrepreneur, legal entity |
|
Application fee |
5 000 AMD |
|
Currency of the credit |
USD |
|
Credit amount |
Up to USD 3000 |
|
Loan maturity |
3-24 months, replenishment of the working capital and capital investments |
|
Periodic repayments of credit amount and interest amount |
Monthly |
|
Nominal interes rate |
15 % |
|
Monthly payment fee |
0,3 % |
|
Existance of active business |
Only for businesses having at least 3 months business history |
|
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 |
-
In the case of loan contracts up to USD 1500, 1 guarantee
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In the case of loan contracts more than USD 1500, at least 2 guarantees
|
|
Loan disbursement up-front fee |
3 %, paid at the beginning of loan disbursement / For the loans from Gyumri, Armavir and Artashat, 2% / |
|
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 USD 2000, AMD 3000
-
In case of loan contracts for USD 2001- 3000, AMD 5000
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 |
|
Fluctuations of the foreign currency rate may impact the loan repayments. |
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The clients that have no overdue days or have no more than 30 overdue days, are getting 1% discount on interest rate. |
