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

Conditions Description
Borrower Individual, private entrepreneur, legal entity
Application fee AMD 5 000 
Currency of the credit USD
Credit amount USD 100-3000 
Loan maturity
  •  3-28 months for loans up to 2000 USD(including)
     
  • 3-36 months for loans above 2000 USD
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.
-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. 
Nomunal  interest rate  10 %
Means of loan repayment 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.
Collateral type
  • Guarantee (at least 2 persons)
Loan disbursement up-front fee 3 % (including VAT), installed at the beginning of loan disbursement
Monthly service payment  0.6%*  (including VAT) 
 In the case of prepaid loans, the fee is charged according to the number of days used
 *Exception: 0.4% for Gyumri,Artik,Ijevan and Noyemberyan branches

 
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 AMD 3000 one-off charge for each overdue payment.

ATTENTION

IF YOU FAIL TO MAKE THE REPAYMENTS ON TIME THE INFORMATION ABOUT YOU SHALL BE REGISTERED IN THE CREDIT REGISTER.
Early (including partial) loan payment conditions In case the borrower pays off the loan fully or partly fee is not charged.
Loan disbursement metodology In cash or by bank transfer to the borrower’s bank account number or 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,  large Loan committee
Factors impacting the loan extension • Peculiarities of the economic activities carried out by the customer
• 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 the requirements of internal regulations of the Bank
Fluctuations of the foreign currency rate may impact the loan repayments.

Sample Loan Repayment Schedule

Credit amount
(USD)
Loan maturity
9 months 12 months 18 months 24 months
Monthly repayments
1000 96.68 68.81 54.92 41.15
1500 145.02 103.21 82.39 61.73
3000 285.77 202.15 160.46 -

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 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

Ejmiatsin Branch
Baghramyan street 4/2
Vagharshapat
Nor Bayazet Branch
Zoravar Andranik 31street
Gavar
Ararat Branch
Ogostos 23 79 b
Artashat
Stepanavan Branch
6a G. Nzhdeh Street
Stepanavan
All Branches
Updated: 02.08.2017(12:35)
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