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Services
Agro Loans
This product is intended for small and medium agricultural farms to extend their activities.
 
Services
Gold backed agro loans

 Conditions Description
Name of the product Agricultural loan
Target group Individuals and legal entities engaged in agriculture, private entrepreneurs
Application fee AMD 2500 
Currency of the credit USD
Loan amount USD 250 – 10,000
Loan maturity 3-48 months
Periodic repayments of credit amount and interest amount Monthly
Grace period up to 3 months, during loan disbursement
Nominal interes rate  17% for loans in USD
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.
Monthly service payment 0,5 %  In the case of prepaid loans, the fee is charged according to the number of days used
Security/collateral type
  • For loans up to USD 3000(including) at least one guarantee
  • For loans USD 3000-10.000 at least two guarantees
Guarantor Requirements The Guarantor should satisfy at least 3 mentioned points: 
1. To have moral impact on the borrower
2. To have evidence of stable income
3. To be real estate owner
4. To have maximum number of continuously overdue days  less than 30. 
5. To have sum (total) of number of overdue  days less than 45.
Actual annual interest rate  32% - 34%

WARNING
LOAN AMOUNT CALCULATION IS BASED ON NOMINAL INTEREST RATE. ANNUAL ACTUAL RATE SHOWS HOW MUCH WILL THE LOAN COST FOR YOU IF YOU PAY 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 - 17%
Monthly service payment - 0.5%
Loan disbursment fee- 1%
Loan amount - USD 2.000
Loan maturity - 24 months

Total amount to be paid to Organization - USD 2.636
Actual annual interest rate 32.4%
Loan/collateral ratio  Up to 150% (Gold evaulation prices are introduced in Table 1)
Loan disbursement up-front fee 1 % (including VAT),  paid at the beginning 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 or USD 2000,  AMD 3000
  • In case of  loan contracts for  AMD 500.001- 1.000.000 or   USD 2001- 3500,  AMD 5000  
  • In case of  loan contracts for  AMD 1.000.001- 1.500.000 or  USD 3501- 5000,  AMD 7500
  • In case of  loan contracts for  AMD 1.500.001- 2.000.000 or  USD 5001- 7000,  AMD 10000
  • In case of  loan contracts for  AMD 2.000.001 or  USD 7001,  AMD 15000      
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 In cash or by bank transfer to the borrower’s bank account number or by SEF’s transit account
Approval period 1 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.


Table 1: Gold evaluation prices 


For SEF’s all branches
Gold evaluating prices
Grade 375 416 500 583 585 750 916 958 999
Value 8,700 9,600 11,600 13,500 13,500 17,300  21,200 22,100 23,100
AMD
 




 

 

 

Sample Loan Repayment Schedule

 Loan amount
 (USD)
Loan maturity
24 months 36 months 48 months
Monthly repayment rate
5000 272 203 169

For foreign currency loans the interest rates, late payment charges, as well as loan disbursement and service 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
  • 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)
  • Loan officer may require other documents concerning borrower’s solvency.
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)
  • Loan officer may require other documents concerning borrower’s solvency.
For legal entities
  • Loan application
  • State register certificate
  • Tax code
  • Legal entity’s decision for borrowing 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 obtaining 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
Branches & Offices

Artik Branch
Tonakanyan street 7/3
Artik
Kentron Branch
6/23 Northern Avenue
Yerevan
Masis Branch
M. Heratsi 13
Masis
Goris Branch
Komitas street 26/24
Goris
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.
© SEF INTERNATIONAL. 2011 - ALL RIGHTS RESERVED