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
Business express loans with guarantee

Conditions Description
Borrower Private entrepreneur, Legal entity
Application fee AMD 5 000 
Currency of the credit USD
Loan amount up to USD 3000
Loan maturity  
3-28 months, replenishment of the working capital and capital investments
Periodic repayments of credit amount and interest amount Monthly
Each year in January and February, grace period on loan principal repayment is defined. During mentioned months the borrower pays only interest payments.
Nominal interest rate 13% 
Existence of active business The businesses that have been active for at least last 3 months period
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
  • For loans up to USD 1.500 (including) at least 1 guarantee required 
  • For loans more than USD 1.500 at least 2 guarantees required 
Loan disbursement up-front fee 3 %, paid at the moment of loan disbursement
Monthly service payment 0.2%   In the case of prepaid loans, the fee is charged according to the number of days used                    
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.
  • In case of loans up to $ 2,000  - AMD 3,000,
  • In case of loans from $ 2001 to $ 3,000  - AMD 5,000.
A one-time penalty does not apply in the case when all the overdue amount does not exceed 500 AMD and pays during next business day.
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
Loan approval committee Without reference to amount, a small credit committee
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
Foreign currency rate fluctuations may impact the loan repayments.
 

Sample Loan Repayment Schedule:
 

 
Credit amount
(USD)

 
Loan maturity
 
12 months
 
24 months
Monthly repayment rate
2000
182
99
3000 273 148
 
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
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.
Branches & Offices

Noyemberyan Branch
Zoravar Andranik street 6/2
Noyemberyan
Stepanavan Branch
6a G. Nzhdeh Street
Stepanavan
Vanadzor Branch
Tigran Mets avenue 59/1
Vanadzor
Armavir Branch
Erevanyan street, 33/5
Armavir
All Branches
Updated: 02.08.2017(12:35)
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Company takes no responsibility for preciseness and genuineness of the contents, advertisements and possible consequences arising from use of information placed in the referenced web sites.
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