Overdraft on Business Card | Business Loans | Ameriabank
Նախորդ տարբերակին անցում կատարելու համար սեղմել   այստեղ

Overdraft on Business Card

For businesses with up to AMD 750M annual turnover

Overdraft on business card based on the volume of your POS transactions, consumer finance or account turnover.

If you use Ameriabank's POS terminal services or partner with us in consumer finance/installment loans, or just have an account with Ameriabank, this service is for you. You can get an overdraft in the amount of AMD 1-50 million or equivalent in other currency on your business card based on the volume of your POS transactions, consumer finance or account turnover.

  • Apply online
  • No early repayment fee
  • Upload files and track your application online
  • If you meet the Bank's criteria, our specialist will get in touch with you within 1 business day after you apply.

Types of overdrafts on business card

  • Overdraft based on the volume of your POS operations and consumer finance

AMD 1-50 million or other currency equivalent

  • Overdraft on business card

AMD 1-20 million or other currency equivalent

Term

12 - 60 months

Loan amount

Up to AMD 50 million or other currency equivalent

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 10 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 20 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 20 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

POS/consumer finance/account turnover-based SME overdrafts on business cards (Visa Business/MasterCard)

 

Loan type

POS/consumer finance/account turnover-based SME overdrafts on business cards

 

Purpose

Travel and entertainment expenses and other payments of legal entities and individual entrepreneurs

 

Clients

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

 

Exclusion list

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

 

Creditworthiness assessment*

According to the approved criteria

 

Currency

AMD

USD

EUR

Loan conditions

Minimum and maximum loan limit

• Up to 40% of average monthly cash flows through accounts with Ameriabank during the most recent 6-12 months, within AMD 1,000,000-20,000,000 or its equivalent in foreign currency
• The credit limit for the client with at least 3-month cash flow history with Ameriabank shall be based on the cash flows through the client's accounts with Ameriabank for 3 months and the net turnover with the other banks for at least 3-9 preceding months, within AMD 1,000,000-20,000,000, provided that the client transfers his/her accounts turnover with other banks to Ameriabank.

If credit line is issued to clients offering consumer financing who have POS-terminals:

• Difference between 10x of the average monthly POS or consumer finance turnover via the existing accounts with Ameriabank and amount of collateral-free loans at Ameriabank, within AMD 1,000,000-50,000,000 or its equivalent in foreign currency
• The same approach is applied to the net turnover through accounts with other banks provided that such POS or consumer finance turnover is transferred to Ameriabank.

Term (months)

12 months

Annual interest rate (fixed)

15.5%
(effective rate: 17.9%)

12.5%
(effective rate: 14.5%)

11%
(effective rate: 12.8%)

Term (months)

36 months

Annual interest rate (fixed)

16.5%
(effective rate: 18.3%)

13.5%
(effective rate: 14.8%)

12%
(effective rate: 13.1%)

Term (months)

60 months

Annual interest rate (fixed)

17.5%
(effective rate: 19.3%)

14.5%
(effective rate: 15.8%)

13%
(effective rate: 14.1%)

Annual interest rate (fixed) if the credit line is issued to clients offering consumer financing and having POS-terminals

15%
(effective rate: 16.1-18.6%)

12%
(effective rate: 12.7-15.1%)

10.5%
(effective rate: 11-13.4%)

Loan disbursement fee

0.5% of the loan amount
• N/a in case of overdrafts issued via business cards on the basis of POS/consumer finance turnover

 

Loan modification application fee

N/a

Card terms

Card issuance

Free

Annual service

AMD 20,000

Additional card issuance

Free

Annual service of additional card

AMD 5,000

Card blocking

Free

Keeping the card in international STOP-LIST** (for 7 days)

AMD 9,000

Card unblocking

Free

Maximum daily cash withdrawal limit

10

Cash withdrawal

• From Ameriabank ATMs and cashing facilities: 1%
(n/a if credit line is issued to clients offering consumer financing and having POS-terminals) • From ATMs and cashing centers of other banks servicing ArCa cards: 1.5%, minimum AMD 1000 • From other ATMs and cashing centers: 2%, minimum AMD 2,000

Non-cash transactions

Free

 Quick activation of the card account balance (maximum within 1 hour after depositing of funds)

AMD 2,000

Review of card credit limit

AMD 3,000

SMS notification (for operations in the amount of AMD 10,000 or foreign currency equivalent and more)

Free

 Card-to-card transfers

0.2%

Forms of loan repayment

Grace period

N/a

Repayment

Monthly repayment of interest, with the payment of principal at the end of the term. Any payments and credits to the card account shall be applied for the settlement of interest outstanding as of the moment.

Security

Eligible security

1. Pledge of cash flows through the account
2. Personal guarantee of the business founder/beneficial owner
3. In case of turnover-based overdrafts issued via business cards, 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 30 overdue days within the recent 2 years but max 10 consecutive overdue days)

LTV ratio (based on the liquidation value of the additional security)

1. Up to 40% of average monthly net cash flows
If credit line is issued to clients offering consumer financing and having POS-terminals, 10x of average monthly POS or consumer finance turnover
(Should this ratio be breached during the loan term, the credit limit may be reviewed or revoked)

2. In case of additional security the credit limit may exceed 40% of the average cash flows, in which case the LTV ratio for the amount over the credit limit shall be as follows below:
1. 70% for the pledge of real estate; 80% if the DSR is at least 1.5.
2. 50% for the pledge of vehicles
3. 40% for the pledge of plant and equipment and working assets, not to exceed 30% of the value of the aggregate security
4. 80% for the pledge of metal accounts in gold
5. in case of cash collateral at Ameriabank/bonds issued by Ameriabank:
-90% if currency of the collateral is the same as of the loan
-70% if currencies of the collateral and the loan are different
The age of vehicles is max 12 years for foreign brand vehicles other than vehicles made in Russia, China and Iran, in which case max age is 8 years

Loan service fees***

Modification of the loan terms

AMD 25,000

Substitution of pledged property (for real estate; including change of the property owner)

AMD 20,000

Substitution of pledged property (for vehicles; including change of the owner of the pledged vehicles)

AMD 10,000

Provision of pledge-related consents, permissions and references

AMD 10,000 (VAT included)

Change of the loan repayment date

AMD 10,000

 

Early repayment

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 beyond terms

*No creditworthiness ratios are calculated and no business analysis and proof of income are required for loans secured by cash and metal accounts in gold.

**Suspension of unauthorized card transactions worldwide

***The fee is charged if the modification is requested by 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 pledge or involving a new guarantor, no fee is charged.

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, 10:00