Automatically approved Business Loan/Overdraft | Ameriabank
Նախորդ տարբերակին անցում կատարելու համար սեղմել   այստեղ

Automatically approved business loan/overdraft

For businesses with an annual turnover of up to AMD 750 million

This loan is designed to help you develop your business and finance day-to-day operations. As part of this offer you can transfer your existing loans from other banks or credit organizations to Ameriabank.

  • Apply online
  • Get your answer within minutes
  • No early repayment fee
  • No mortgage
  • Get your loan without having to visit the Bank: all you need is an account with Ameriabank and a valid ID card.
  • Automatically refinance your loans in other banks without having to visit those banks for formalities.

If your application meets our eligibility criteria but is not approved automatically, our specialist will visit you at the place of your business to perform analysis and give your answer in person. If the answer is positive, you can get your loan on the same day by visiting the Bank.

Loan Amount

AMD 1-15 million or its equivalent in other currency

Term

12-60 months

Ready to apply for a loan?

FAQ

Can I apply for a loan without visiting the Bank?

Yes, you can use the Bank's website to apply online for any business loan. Our specialists will get in touch with you. You can also use the online platform to track your application.

Can I get loan approval online without visiting the Bank?

Yes, you can get your approval online if your loan is within AMD 15 million. If you have an account with Ameriabank and a valid ID card, you can also get the money online without having to visit the Bank in person.

Where can I learn about interest rates?

Information about interest rates is available on Ameriabank's official website: go to menu and select the item you are interested in from “Loans”. For more information feel free to call us at +37410 56 11 11 or visit the nearest branch office. Find our locations and learn about work hours here.

Can I get a loan, if I already have an outstanding business loan in another bank?

To provide a loan, the Bank performs creditworthiness analysis. Loans in other banks are not a deal-breaker, if your general creditworthiness ratios meet our criteria. You can also consolidate your loans in other banks by transferring them to Ameriabank. If your loans are within AMD 30 million, you can have them refinanced by Ameriabank automatically, without having to visit other banks for formalities.

What documents do I need to apply for a loan?

To apply for a loan online, you need to provide certain basic data about your business (TIN, ID). Depending on the type of loan you choose, other documents or information might be required at further stages, which you can upload on our webpage without having to visit the Bank in person.

Can I transfer loans from other banks to Ameriabank?

Yes, you can consolidate your loans in other banks by transferring them to Ameriabank. Loans within AMD 30 million can be transferred to and refinanced by Ameriabank automatically, no need to visit other banks for formalities.

Are there any restrictions as to which industry you have to work in in order to get a loan?

Yes, Ameriabank does not finance the following industries:

  • Production or trade in any product or activity deemed illegal under the Republic of Armenia laws or regulations or international conventions and agreements
  • Production or trade in weapons and munitions
  • Gambling, casinos and equivalent enterprises
  • Trade in precious stones
  • Currency exchange business
  • Brokerage or bookmaking offices
  • Production, use of or trade in hazardous substances (like radioactive materials) other than pesticides and fertilizers used in agriculture

How to apply

 Automatically approved SME loan/overdraft (not secured by assets)

Loan type

Automatically approved SME loan/overdraft

Purpose

Business expansion; financing of current operations and other investments; transfer of outstanding business loans with other banks and credit organizations to Ameriabank CJSC    

Clients

Legal entities and individual entrepreneurs (IE) with at least 6-month business history

Sectoral restrictions

According to the Exclusion List

Creditworthiness assessment

In case of scoring-based automatically approved business loans/overdrafts: according to the approved score card

In case of loans analyzed by the loan officer: according to the approved criteria

Currency

AMD

USD

EUR

Minimum and maximum loan limit

AMD 1 million - 10 million or its equivalent in foreign currency (in case of scoring-based automatically approved business loans/overdrafts: according to the approved score card)

AMD 1 million - 15 million or its equivalent in foreign currency (in case of loans analyzed by the loan officer: according to the approved criteria)

Term (months)

12 months

Annual interest rate (fixed) on loans

14.5%
(APR: 17.8%)

11.5%
(APR: 14.3%)

10.0%
(APR: 12.6%)

Annual interest rate (fixed) on overdrafts

15.5%
(APR: 17.9%)

12.5%
(APR: 14.5%)

11%
(APR: 12.8%)

Term (months)

36 months

Annual interest rate (fixed) on loans

15.5%
(APR: 17.5%)

12.5%
(APR: 14.0%)

11.0%
(APR: 14.0%)

Annual interest rate (fixed) on overdrafts

16.5%
(APR: 18.3%)

13.5%
(APR: 14.8%)

12%
(APR: 14.8%)

Term (months)

60 months

Annual interest rate (fixed) on loans

16.5%
(APR: 18.3%)

13.5%
(APR: 14.9%)

12.0%
(APR: 13.2%)

Annual interest rate (fixed) on overdrafts

17.5%
(APR: 19.3%)

14.5%
(APR: 15.8%)

13%
(APR: 14.1%)

Fixed annual interest rate on the score-based automatically approved SME loans

13-19%
(APR: 13.8-21.3%)

10-16%
(APR: 10.5-17.8%)

8.5-14.5%
(APR: 8.8-16%)

Fixed annual interest rate on the score-based automatically approved SME overdraft

14-20%
(APR: 14.9-22.4%)

11-17%
(APR: 11.6-18.9%)

9.5-15.5%
(APR: 9.9-17.1%)

Annual interest rate on non-utilized amounts

N/a

Loan disbursement fee

1% of the loan amount
N/a in case of online application for score-based automatically approved SME loans/overdrafts

Loan cashing

For SME loans: not applicable in case of AMD withdrawals from the borrower's account
0,5% of the amount withdrawn in case of foreign currency withdrawals
For SME overdrafts: according to effective tariffs of the Bank

Repayment

SME loans: annuity (equal loan installments consisting of a portion of loan and a portion of interest; payable on monthly basis)
SME overdraft: repayment of principal at maturity

Security

1. Pledge of cash flows through the account
2. Personal guarantee of the business founder and beneficial owner
3. In case of SME loans/overdrafts analyzed by the loan officer, a guarantee by another individual and/or entity is required. Furthermore, the source of the guarantor’s income should not depend on the financed business, and there should be no material delays in the guarantor’s credit history (no more than overdue 30 days within the recent 2 years but max 10 consecutive days)

Loan service fees 1

Modification of the loan terms 

AMD 25,000

Change of the loan repayment date

AMD 10,000

Early repayment penalty

N/a

Late payment fines and penalties

The interest rate specified in the loan agreement shall continue to be applied to overdue loans.
Fine in the amount of 0.13 % of overdue loan/interest for each day of delay

Other terms

Overdrafts may be also issued on business cards in accordance with the Bank's effective tariffs. This does not include the annual service fee which is not charged in case of score-based automatically approved SME overdrafts.

1 The fee is charged if the modification is requested by the client. Where there are several applicable fees for the same modification, the highest fee is charged and only once. Fees are not applicable in case of loans secured by cash, bonds and metal accounts. If the modification implies adding new collateral or involving a new guarantor, no fee is charged.

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Required documents filed together with loan application

  • ID of the shareholders and CEO of the legal entity/Individual entrepreneur
  • TIN
  • Charter (for corporate applicants)

 

Documents required after initial approval

  • ID of the shareholders
  • Tax clearance certificate (n/a in case of score-based automatically approved loans/overdrafts)

 

Documents required after loan approval

  • Approval of the authorized body of corporate applicant to execute loan and pledge-related transactions
  • Purchase documents (required in case of automatically approved SME loans for purchase of solar power plants and water heating systems)
  • Other documents as the bank's specialist may request

 

Acting in accordance with the Republic of Armenia Law “On Combating Money Laundering and Terrorism Financing” Bank may request you to provide additional information and documents for customer due diligence based on the “Know your customer” principle, as well as ask you additional questions during verbal communication (if required so).

Last updated on 02.05.2022, 09։35