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Retail SME credit lines on customs cards (Arca classic)
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Loan type
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Retail SME credit lines on customs cards (Arca classic)
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Purpose
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Customs payments
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Clients
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Legal entities and individual entrepreneurs 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 1
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According to the approved criteria
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Loan terms
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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 limit
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• 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 net 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.
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Term (months)
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12 months
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Annual interest rate
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Grace period applies to loans in USD and EUR. The following interest rates apply to any and all amounts used (i) if liabilities are not repaid in full during the grace period, and (ii) from the first day of utilization in case of AMD denominated loans:
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14.5%
(APR: 16.9%)
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11.5%
(APR: 13.4%)
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10.0%
(APR: 11.8%)
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If the outstanding debt under the loans in USD and EUR is not repaid in full during the month following the grace period, starting from the following month the amounts shall bear an interest of 20%.
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Loan disbursement fee
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1% of the loan amount
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Loan modification application fee
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N/a
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Card service fees
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In accordance with Ameriabank CJSC Customs Card Rates and Fees (12CIB PL 72-48)2
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Forms of loan repayment
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Grace period
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Last day of the month of withdrawal of money +5 days
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Loan repayment form: without grace period
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Principal payable at the end of term, interest payable monthly; whenever the card account is credited, the interest accrued as of that moment will be charged.
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Loan repayment form: with grace period
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Payment of interest at the end of the term, however, whenever the card account is credited, the interest accrued as of that moment shall be charged.
Principal payable at the end of term.
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Security
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Eligible security
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1. Pledge of cash flows through the account
2. Personal guarantee of the business founder and beneficial owner
3. The Bank may request a guarantee by another individual and/or entity. 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 days).
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Loan service fees 3
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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
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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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1 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.
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2 Ameriabank CJSC Customs Card Rates and Fees (12CIB PL 72-48, approved by Management Board Resolution # 35/07/11 dated April 8, 2011). Available at https://ameriabank.am/useful-links
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3 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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