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9. Overdraft via Business Cards (Visa Business/Master Card Business) under Retail Business Loan Secured by Assets
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Loan type
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Overdraft via business cards under secured retail business loan
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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 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 accordance with the “Minimum creditworthiness requirements and lending scenario”
• Business analysis and determination of LTV ratio, DSCR and other financial indicators are not required.
• In case of a new loan origination, the “Overdraft via Business Cards (Visa Business/Master Card Business) under Retail Business Loan Secured by Assets” loan product is not considered in the calculation of financial indicators.
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Minimum creditworthiness requirements and lending scenario
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• The previous loan issued to the customer based on the business analysis was approved/issued without any DSCR and LTV deviations. Should the collateral securing the loan be pledged to secure the loans of other parties, such loans should also have no LTV deviation.
• During 12 months preceding submission of the loan application, the terms of the loans issued to the customer haven’t been revised as a result of financial distress.
• According to the ACRA Credit Reporting CJSC data, the customer’s credit risk grade is 1 (one).
• At the time of the loan disbursement, there is no grace period applicable to the customer’s loans with Ameriabank CJSC.
• The customer’s credit history is in accordance with the green line.
• The loan originations process is in accordance with the green line.
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Loan terms
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Minimum and maximum loan limit
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AMD 1 million - 15 million or its equivalent in another currency. The limit cannot exceed 10% of the contractual amount of the loan with Ameriabank, whether currently effective or being considered. If the customer has more than one business loans, the calculation involves 10% of the largest loan or the aggregate sum of such loans.
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Currency
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AMD
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USD
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EUR
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Term (months)
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6-36 months but in any case until the expiry of the principal agreement
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Annual interest rate (fixed) 3
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13.5%
(APR: 14.8-16.9%)
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10.5%
(APR: 11.4-13.4%)
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9%
(APR: 9.8-11.7%)
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Annual interest rate on non-utilized amounts
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0%
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Other terms related to the interest rate
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If the line of credit/overdraft is secured by cash or bonds issued by Ameriabank CJSC, the interest rate is:
- Applicable interest rate for cash/bond + 4%, but in any case not more than the rates specified above, if the loan and the collateral are in the same currency
- Rates specified above, if the loan and the collateral are in different currencies
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Where insurance of the collateral is obtained by the bank at the wish of the client, the rate of interest is increased pro rata the share of each type of the collateral in the total value of the collateral by:
• 2.5% if the collateral is a vehicle, or
• 0.5% if the collateral is plant and equipment.
Where the insurance of real estate is obtained by the client, the interest rate will be reduced by 0.05%, based on the share of each type of assets in the total collateral.
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Loan disbursement fee
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1% of the loan amount
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Loan cashing
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As per the cash withdrawal fees specified in Ameriabank CJSC Tariffs for Corporate Clients2 (12CIB/11RBD PL 72-01-02)
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Repayment
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According to the schedule or at the end of the maturity period
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Loan security
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Collateral pledged under the principal agreement for the retail business loan secured by property
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Property appraisal
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Appraisal/re-appraisal of the collateral is not required.
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Insurance of property
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N/A
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Loan service fees 1
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Modification of the loan terms
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AMD 25,000
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Substitution of pledged property (for real estate; including change of the property owner)
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AMD 20,000
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Substitution of pledged property (for vehicles; including change of the owner of the pledged vehicles)
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AMD 10,000
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Provision of pledge-related consents, permissions and references
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AMD 10,000 (VAT included)
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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 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. These fees do not apply to the loans to agro-processing industry.
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2 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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