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 USD
Credit amount
  • USD 250 – 10.000
Loan maturity
In the case of loans and tranches  3-36 months
 In the case of credit line, up to 60 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  10% 
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.
Possible grace period of 3 months -at loan disbursement moment or in the beginning of each tranche (in case of loan tranches)
Monthly service payment 0,4%  In the case of prepaid loans, the fee is charged according to the number of days used
Security
  • Real estate
  • Mobile property
  • Guarantee (in addition to the property collateral), as additional security
Loan/security ratio 70% in the case of real estate 
40-60% in the case of mobile property
100%  for gold backed loans
Loan up-front fee 3 % ( including VAT ) installed in the moment of loan disbursement
Up-front fee in case of collateral changes, keeping Loan/security ratio of 70% AMD 5 000
Insurance -Based on the decision of Credit Committee the borrower must must insure the mobile property 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 for  AMD 500.001 -1.000.000 or  USD 2001 - 3500,  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 to SEF’s transit account
Approval period 5 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
Foreign currency rate fluctuations may impact the loan repayments.

Sample Loan Repayment Schedule

 Loan amount
 (AMD)
Loan maturity
9 months 12 months 24 months 30 months
Monthly repayments
1.000.000 124,515.44 96,559.60 54,871.0 46,649.92

  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
Branches & Offices

Sisian Branch
Israyelyan street 6/6
Sisian
Meghri Branch
26/26 Z. Andranik Street
Meghri
Talin branch
3/2 Spandaryan Street
Talin
Yerevan Branch
19/19 Yervand Kochar Street
Yerevan
All Branches
Updated: 02.08.2017(12:35)
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