Tel.: (374 10) 20 28 22
 
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Services
Agro Loans
This product is intended for small and medium agricultural farms to extend their activities.
 
Services
Loans for agricultural development

Conditions Description
Name of the product Agricultural loan
Target clientele Legal entities engaged in agriculture, private entrepreneurs
Application fee AMD 2500
Currency of the credit AMD
Credit amount
  • AMD 50.000– 1.000.000
Loan maturity
3-28 months
 

 
Periodic repayments of loan amount and interest rate Monthly
-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. 
Nominal interest rate  13% 
Loan and interest 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.
Monthly service payment 0,6*%
In the case of prepaid loans, the fee is charged according to the number of days used
*0,4% for Gyumri, Artik, Ijevan, Noyemberyan branches.
Security
  • Guarantee (at least 2 people)
Loan up-front fee 3 % ( including VAT ) installed in the moment of loan disbursement
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  ,
     AMD 3000
  • In case of loan contracts for  AMD 500.001 ,  
    AMD 7500
  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 or partly fee is not charged.
Loan disbursement methodology Bank transfer to the borrower’s bank account number or through bank check 
Actual anuual interest rate 26% - 32%

WARNING
LOAN AMOUNT CALCULATION IS BASED ON NOMINAL INTEREST RATE. ANNUAL ACTUAL RATE SHOWS HOW MUCH WILL THE LOAN COST FOR YOU IF YOU MAKE INTEREST AMOUNTS AND OTHER FEES ON TIME. YOU CAN FIND ACTUAL ANNUAL INTEREST RATE CALCULATION FORM IN THIS ADDRESS:
YEREVAN, YERVAND KOCHAR str. 19/19


Actual annual interest rate calculation example: 

Nominal interest rate - 13 %
Monthly service payment - 0.4 %
Loan disbursment fee- 3%
Loan amount - AMD 10.000.000 
Intermediary fee- AMD 2500 
Loan maturity - 28 months
Total amount to be paid to Organization - AMD 1.287.855 
  • Actual annual interest rate 26.4%
Approval period 3 working days after receiving all required documents
Factors having 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  disbursment period  Loan is disbursed after sighning all necessary contracts during one day.
Foreign currency rate fluctuations may impact the loan repayments.

Sample Loan Repayment Schedule

 Loan amount
 (AMD)
Loan maturity
12 months 28 months
Monthly average repayments
1.000.000 93.000 45.000

  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 individuals
  • Loan application
  • Original and photocopy of the borrower’s passport
  • Photocopy of the borrower’s social security card or a certificate about its' absence  
  • Applicant’s income statement
  • Certificate from residence about family members
  • Ownership certificate for the collateral
  • Ownership certificate for borrower’s personal property
  • 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
For private entrepreneurs
  • Loan application
  • Photocopy of the borrower’s passport 
  • Photocopy 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
  • Tax, financial and other reports
  • Borrower’s income statement
  • Certificates for other property owned  
  • 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
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 activity that is requried 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 e-register.am and  taxservice.am system about business operating information
  • Inquiries from Datalex system about civil, administrative, criminal, bankruptcy orders and payment terms

General Conditions Leaflet

FINANCIAL ASSISTANT
http://www.abcfinance.am
Branches & Offices

Kapan Branch
10 Melik-Stepanyan, b. 33/1
Kapan
Stepanavan Branch
6a G. Nzhdeh Street
Stepanavan
Kentron Branch
6/23 Northern Avenue
Yerevan
Armavir Branch
Erevanyan street, 33/5
Armavir
All Branches
Updated: 02.08.2017(12:35)
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