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Client
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Legal entities and individual entrepreneurs (IE) with at least 6-month business history
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Exclusion list
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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
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Loan Amount
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D.1. AMD 1,000,000 - AMD 15,000,000 or equivalent in other currency (USD, EUR)
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D.2. AMD 3,000,000 - AMD 15,000,000 or equivalent in other currency (USD, EUR)
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D.3. AMD 15,000,000 - AMD 30,000,000 or equivalent in other currency (USD, EUR)
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Loan term
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1 year
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3 years
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5 years
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Grace period (for principal):
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N/a
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Annual interest rate[i]
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For loans in AMD
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D.2. (loan/overdraft): from 14.5%/15.5%
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D.3. (Loan/overdraft): from 13%/14%
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D.2. (loan/overdraft): from 15.5%/16.5%
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D.3. (loan/overdraft): from 14%/15%
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D.1. (loan/overdraft): 15-17%/16-19%
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D.2. (loan/overdraft): from 16.5%/17.5%
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D.3. (loan/overdraft): from 15%/16%
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For loans in USD
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D.2. (loan/overdraft): from 11.5%/12.5%
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D.3. (loan/overdraft): from 10%/11%
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D.2. (loan/overdraft): from 12.5%/13.5%
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D.3. (loan/overdraft): from 11%/12%
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D.1. (loan/overdraft): 14-16%/15-18%
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D.2. (loan/overdraft): from 13.5%/14.5%
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D.3. (loan/overdraft): from 12%/13%
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For loans in EUR
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D.1. (loan/overdraft): from 10%/11%
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D.2. (loan/overdraft): from 8.5%/9.5%
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D.1. (loan/overdraft): from 11%/12%
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D.2. (loan/overdraft): from 9.5%/10.5%
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D.1. (loan/overdraft): 12.5-14.5%/13.5-16.5%
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D.2. (loan/overdraft): from 12%/13%
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D.3. (loan/overdraft): from 10.5%/11.5%
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Loan disbursement fee (chargeable lump-sum at the time of provision)
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1% of loan amount
N/a in case of online application for score-based automatically approved SME loans/overdrafts
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Late payment fee[ii]
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Fine in the amount of 0.13% of overdue loan/interest for each day beyond terms
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Repayment
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Annuity (equal monthly installments consisting of a portion of loan and a portion of interest) in case of loans
Principal payable at the end of term in case of overdraft
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Early repayment (prepayment)
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N/a
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Loan security
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D.1, D.2.: Cash flows, personal guarantees by business founders/beneficial owners and other physical and/or legal entities as requested by the bank
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D3: Along with the security under options D.1, D.2., real estate[1] or vehicle
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Loan-to-value (LTV) ratio
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The value of the loan security is included in the estimation of the LTV ratio (D.3.) in an amount not more than:
1. Real estate: up to 100%
2. Vehicles: 50%
While calculating the LTV ratio, the loan value is considered to be equal to the sum of (i) that portion of the requested loan that is above AMD 15 million, and (ii) outstanding unsecured credit obligations of the client. Furthermore, if the client’s outstanding unsecured credit obligations are above AMD 15 million, the LTV ratio is calculated only in relation to the requested amount, in full.
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Pledge insurance
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The insurance of the pledged real estate is to be obtained only if it is or will be used for business purposes.
Insurance for pledged real estate and vehicles to be maintained throughout the term of loan:
1. If by the Client: at least for the amount of the outstanding principal/credit limit
2. If obtained by the bank: to the extent of the outstanding principal/credit limit.
The following vehicles are not subject to insurance:
· Vehicles transporting hazardous materials (toxic substances, chemicals, radioactive and explosive materials)
· Vehicles to be used in races, test drives; vehicles which have three wheels, snow removers, motorcycles, special purpose vehicles
· Taxis and rental cars
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Application handling period
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D.1. Immediately for automatically approved loans
up to 2 business days for other loans
D.2, D.3․ Up to 3 business days.
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Validity period (period during which loan approval is effective)
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7 business days
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Form of disbursement
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Crediting to the bank account
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