Factoring financing

Evocabank offers factoring financing (Financing against concession of monetary claim at the Bank).

Factoring limit	AMD 5,000,000 – 250,000,000 or equivalent in foreign currency Within the framework of cooperation agreement with “Export Insurance Agency of Armenia” – up to AMD 480,000,000 or equivalent in foreign currency
Validity of factoring limit	Up to 24 months
Funding term	Up to 180 day Within the framework of cooperation agreement with “Export Insurance Agency of Armenia” – up to 250 day
Funding amount	Up to 80% of the provided invoice
Annual interest rate	AMD	14 %
	USD	10 %
	EUR	9 %
	RUB	12 %
Annual interest rate within the framework of cooperation agreement with “Export Insurance Agency of Armenia”	In case of factoring financing insurance General Credit Committee of the Bank can authorize deviation from the interest rates mentioned in the 5^th clause of the subject paragraph for customer preferred by the Bank (based on the business volume of the customers, cash flows and potential cooperation with the Bank), but not less than the interest rate for the business lending approved by the Bank Board.
Penalty for loan principal and/or interest overdue	For overdue principal - 0,015 % daily For overdue interest - 0.1% daily
Loan early payment fee	No any early payment fee is applicable
Limit approval fee	0.20% of the limit, minimum AMD 10,000, maximum AMD 200,000
Increase of the current limit	0.20% of the increased amount, maximum AMD 10,000%
Limit re-approval	AMD 10,000
Application review fee	AMD 10,000