Loans to legal entities

Loans terms provided within the framework of the “European Investment Bank” program


Loan currency




  • RA resident legal entities and sole proprietors

- organizations with medium-sized capitalization (number of employees is 250-3000).

- SMEs (the number of employees does not exceed 250).

  • Results of financial statements analysis satisfy the Bank's requirements.



  • Agriculture, food processing
  • Tourism
  • Export promotion activities
  • Manufacturing
  • Other investments qualifying for the Program.


Minimum and maximum amounts

  • If secured by collateral: AMD 5,000,001 – AMD 500,000,000
  • Without security (backed by a surety of at least an individual or a legal entity):  AMD 1,000,000 – AMD 5,000,000


Disbursement method



Repayment period

24 - 90 months 


Grace period for loan principal amount

up to 30 months


Nominal interest rate per annum




  • Moveable and real property,
  • Cash in deposit or current accounts,
  • Standard gold bars or gold scrap,
  • Government short-term bonds or other securities,
  • If appropriate and available, current assets and finished goods (with consideration of the liquidity of other types of collateral or loan-to-value ratio, loan period, customer’s credit history, etc.).
  • Additional condition: Personal sureties of business founders/beneficiary owners are required; besides, the Bank may also request submission of a surety of an individual and/or legal entity.


Acceptable Loan-to-Value  ratio

  • Real property and other fixed assets – up to 70% of the appraised value.
  • Short-term government bonds – up to 95% of nominal value.
  • Other securities – up to 70% of appraised value.
  • Standard gold bars and scrap precious metals – up to 95% of appraised value.
  • Cash (deposit and current accounts) – up to 90%.
  • Working capital – up to 50% of the appraised value.



If appropriate


Prerequisites for loans secured only by surety bonds

  • Absence of loan classifications during the past 12 months, and total number of days past due should not exceed 30.
  • The number of the borrower’s unsecured loans (without the expected loan) should not exceed 5 and their cumulative balance should not exceed AMD 5,000,000 and/or foreign currency equivalent.



  • Targeted monitoring – within 1 - 2 months after loan disbursement.
  • Financial monitoring – at least once a year. Financial monitoring report should disclose at least the borrower's current and previous financial conditions.


Borrower and surety requirements

  • An RA resident - legal entity, sole proprietor or individual.
  • Absence of past due liabilities, also in relation to issued surety bonds).
  • Absence of loan classifications during the past 12 months, and total number of days past due should not exceed 30.


Penalty for early loan repayment

Not applicable


Fees, charges

  • Loan application review – 0
  • Loan account service – 0.5% of the loan amount but not less than AMD 20,000 and not more than AMD 50,000.
  • If the loan amount is received in cash, the Bank will charge a cash withdrawal fee according to the Bank’s rates and fees.


State duties and other costs

State duty charged by RA competent bodies for notarization and registration of collateral agreement.

  • Appraisal of pledged assets, according to fees and rates by independent appraisal companies cooperating with the Bank.


Additional conditions

  • No refinancing of old loans is envisaged under the Program.