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Loans to legal entities

Loans to legal entities

Loans for legal entities

Economic Modernization Measure (effective till December 31, 2023)

Currency	AMD, USD, Euro
Eligible borrowers	Armenian resident legal entities and sole proprietors
Purpose	Machines, equipment, spare parts (including purchase price, import costs, customs clearance, value added tax, etc.). The list drafted according to classifiers approved by Order #874-N of September 19, 2013.
Limits per sectors	Manufacturing Construction Transport and Communications Trade Lodging business and organization of public catering Other sectors	Maximum amount per business is AMD 1 billion or equivalent amount in foreign currency. In case the borrower invests at least AMD 200 million into the charter capital in 2021 and subsequent years, the maximum subsidized amount will be set as much as the five-fold amount of these investments.
Loan disbursement method	Non-cash manner Loan may be disbursed in a lump-sum or installments
Loan term	Maximum loan term is 10 years. Subsidized time period: Up to AMD 200 million or equivalent amount in foreign currency– 42 months Above AMD 200 million or equivalent amount in foreign currency – 36 months
Repayment method	“Annuity” plan “Springy” plan
Grace period	Will be set with consideration of the business characteristics, principal grace period - up to 6 months, for foreign currency – up to 3 months
Annual interest rate	Actual interest rate according to Bank’s current tariff rates. Subsidized portion in AMD – up to 8%, in foreign currency – up to 6%.
Penalties for past due principal and interest	For past due principal - 0.015% per day For past due interest - 0.1% per day.
Penalty for early repayment	N/A
Loan security	Movable and real property, Funds in deposit and current accounts, Working capital, finished goods, Standardized bullions of gold or gold scrap, precious metals, Short-term government bonds or other securities, Sureties of legal entities and individuals as may be required by the Bank.
Fees charged	N/A
State duties and other payments	State duties charged by Armenian competent state bodies for notarial certification and registration of the collateral agreement. Collateral appraisal fee according to the tariff rates set by independent appraisal companies which cooperate with the Bank.