4. Automatically approved business loan/overdraft (not secured by assets)
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Loan type
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Automatically approved business loan/overdraft
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Purpose
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Business expansion; financing of current operations and other investments; transfer of outstanding business loans with other banks and credit organizations to Ameriabank CJSC
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Customers
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Legal entities and individual entrepreneurs (IE) with at least 6-month business history
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Sectoral restrictions
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According to the Exclusion List
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Creditworthiness assessment
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In case of scoring-based automatically approved business loans/overdrafts: according to the approved score card
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In case of loans analyzed by the loan officer: according to the approved criteria
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Currency
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AMD
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USD
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EUR
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Minimum and maximum lending limit1
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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)
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AMD 3 million - 15 million or its equivalent in foreign currency (in case of loans analyzed by the loan officer: according to the approved criteria)
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Term (months)
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12 months
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Annual interest rate (fixed) on loans
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14.5% (APR: 17.8%)
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11.5% (APR: 14.3%)
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10.0% (APR: 12.6%)
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Annual interest rate (fixed) on overdrafts
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15.5% (APR: 17.9%)
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12.5% (APR: 14.5%)
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11% (APR: 12.8%)
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Term (months)
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36 months
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Annual interest rate (fixed) on loans
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15.5% (APR: 17.5%)
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12.5% (APR: 14.0%)
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11.0% (APR: 14.0%)
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Annual interest rate (fixed) on overdrafts
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16.5% (APR: 18.3%)
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13.5% (APR: 14.8%)
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12% (APR: 14.8%)
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Term (months)
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60 months
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Annual interest rate (fixed) on loans
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16.5% (APR: 18.3%)
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13.5% (APR: 14.9%)
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12.0% (APR: 13.2%)
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Annual interest rate (fixed) on overdrafts
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17.5% (APR: 19.3%)
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14.5% (APR: 15.8%)
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13% (APR: 14.1%)
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Fixed annual interest rate on the score-based automatically approved SME loans
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13-19% (APR: 13.8-21.3%)
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10-16% (APR: 10.5-17.8%)
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8.5-14.5% (APR: 8.8-16%)
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Fixed annual interest rate on the score-based automatically approved SME overdraft
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14-20% (APR: 14.9-22.4%)
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11-17% (APR: 11.6-18.9%)
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9.5-15.5% (APR: 9.9-17.1%)
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Annual interest rate on non-utilized amounts
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N/a
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Loan disbursement fee
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1% of the loan amount N/a in case of online application for score-based automatically approved SME loans/overdrafts
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Loan cashing
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For business 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 business overdrafts: as per the cash withdrawal fees specified in Ameriabank CJSC Tariffs for Corporate Clients3 (12CIB/11RBD PL 72-01-02)
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Repayment
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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
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Security
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1. Pledge of cash flows through the account 2. Personal guarantee of the business founder and beneficial owner 3. In case of a retail business loan/overdraft, the template of analysis by the Loan Officer requires a guarantee by another individual and/or legal entity. The guarantor’s source of income should not be connected with the given business and there should be no considerable delays in the guarantor’s credit history (delay during the last 2 years should not be longer than 30 days and not longer than 10 days in a row).
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Loan service fees 2
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Modification of the loan terms
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AMD 25,000
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Change of the loan repayment date
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AMD 10,000
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Early repayment penalty
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N/a
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Late payment fines and penalties
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The interest rate specified in the loan agreement will continue to be applied to overdue loans. Fine in the amount of 0.13 % of overdue loan/interest for each day of delay
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Other terms
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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.
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1 On a case-by-case basis, loans may be issued in the amount below the specified minimum limit for such a term specified in these terms where the application of the respective interest rate will not result in the breach of the maximum annual percentage rate stipulated by law.
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2 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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3 Ameriabank CJSC Tariffs for Corporate Clients (12CIB/11RBD PL 72-01-02, approved by Management Board Resolution # 03/11/15 dated May 20, 2015). Available at https://ameriabank.am/useful-links
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