Loan for the import of raw materials in the textile sector

1.    

Type of financing

Loan

2.    

Currency

Armenian drams, US dollars, Euros

3.    

Borrowers*

RA resident legal entities and sole proprietors

4.    

Purpose**

Import of raw materials

5.   

Loan amount***

AMD 5,100,000 – AMD 500,000,000  or equivalent foreign currency amount

6.    

Business area

Textile industry

7.    

Repayment period

Up to 36 months

8.    

Subsidy period

Up to 12 months

9.    

Subsidized interest rate

In AMD -  8%,

In USD, Euro - 6%

10.   

Security

• Surety bond for loans of up to AMD 10 million (inclusive) or equivalent foreign currency amount,
• Collateral for loans exceeding AMD 10,000,000 or equivalent foreign currency amount.

11.   

Sureties

RA resident legal entities or individuals

12.   

Collateral

• Real estate and movable property,
• Funds in deposit or current accounts,
• Standard gold bars and gold scrap,
• Short-term government bonds or other securities.

If necessary, current assets and finished goods (if any) (with consideration of liquidity level, the loan-to-value ratio, loan period, customer profile, etc.).

Additional provision: apart from the aforementioned, the Bank can request  a surety bond to be issued by other individuals and/or legal entities.

13.   

Loan utilization

Non-cash, through a  bank transfer

14.   

Repayment method

• «Annuity»
• «Flexible» scheme

15.   

Penalty for overdue liabilities

The Bank will have the right to charge late payment penalties starting from the first day the payment becomes overdue.

• For overdue principal - 0.015% per day,
• For overdue interest - 0.1% per day.

16.   

Penalty for loan prepayment

Not applicable

17.   

Fees

• Fee for loan application review – not applicable,
• Fee for loan disbursement – not applicable.