Fast business loan

Fast business funding backed by a surety bond, at a low interest rate.

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Corporate
Fast business loan

1.	Borrowers	RA resident legal entities, sole proprietors
2.	Currency	Armenian drams, US dollars, Euros
3.	Loan purpose	Replenishment of working capital, Acquisition of fixed assets, Financing operating expenses, Repayment of accounts payable, Other business-related investments.
4.	Loan limit	AMD 5,100,000 – AMD 30,000,000 (inclusive) or a foreign currency equivalent
5.	Repayment period	Up to 60 months
6.	Nominal interest rate per annum	For loans in AMD: 13.5%-14.5% in USD: 9.5%-10.5% in Euros: 8.5%-9.5%
7.	Actual interest rate per annum	8.72%-17.89%
8.	Type of a line of credit	Revolving
9.	Annual interest rate accrued on the unused portion of the line of credit	1%
10.	Security	Surety bond
11.	Surety	RA resident legal entities, individuals
12.	Surety activity requirement	For legal entities – at least a 12-month registered business activity. For individuals – stable income sources (salary, leased out property, dividends, etc.) and/or the individual is a real property owner.
13.	Loan/line of credit disbursement method	Non-cash
14.	Repayment method for loans	Annuity Flexible scheme
15.	Fees	Fee for a loan application review – not applicable
		Loan account service fee – to be paid in a lump-sum at 0.5% of the contractual amount
		Fee for cash withdrawal from the bank account – according to the current fees.
16.	Penalty for loan prepayment	If prior to the end of the first half of the contract period, the borrower makes a payment exceeding the monthly scheduled principal amount, they will pay a penalty at 5% of the excess amount. Not applicable for lines of credit.
17.	Penalty for overdue liabilities	The Bank will have the right to charge late payment penalties starting from the first day the payment is overdue: For past due principal - 0.015% per day, For past due interest - 0.1% per day.