Business Loans | Renewable Energy | Ameriabank
Նախորդ տարբերակին անցում կատարելու համար սեղմել   այստեղ

Renewable Energy Loans

For businesses with AMD 750M-2B annual turnover

If you work in energy sector, in the person of Ameriabank you will find a reliable partner for implementation of your projects and business vision.

Want to become a renewable energy champion in Armenia? Our financing option is what you need in your bold endeavors.

  • Financing available lump-sum or installment by installment to suit your needs
  • Up to 3-year grace period, during which only interest is payable

Available in Armenian drams, US dollars, euros

Currency

Up to USD 10,000,000

equivalent in AMD or other currency

Up to 12 years

repayment period

A.4

Renewable energy loans

A.4.1

Industrial solar, hydro and wind power plants

 

A.4.2

Solar, hydro and wind power plants for business's own needs

 

1. LOANS (A.4.1, A.4.2)

#

Eligible projects

Construction or renovation of solar, hydro and wind power plants for industrial or business’s own purposes, subject to availability of all approvals and permits required under applicable law for such business

1

Loan amount

Up to AMD or other currency equivalent of USD 10,000,000

Loans provided in AMD only

2

Loan term

A.4.1 – max 15 years A.4.2 – max 8 years

Up to 12 years

3

Grace period (for principal) – 6 months

Up to 3 years

Up to 2 years

4

Annual interest rate

A.4.1

AMD

USD

EUR

Սկսած 9.5%

Floating

Fixed

Floating

Fixed

Floating

Fixed

From 10.5%******

From 11.9%

From 7.9%******

From 9.0%

From 6.3%******

From 8.0%

Description of floating component

4.4% fixed component + variable component (yield-beforematurity of 6- month government bonds of Armenia)

 

5.6% fixed component + variable component (ICE LIBOR USD 6 Month)

 

6.3% fixed component + variable component (ICE LIBOR EUR 6 Month – only where positive)

 

5

Annual interest rate* A.4.2

AMD

USD

EUR

 

Floating

Fixed

Floating

Fixed

Floating

Fixed

 

from 11.5%******

from 12.9%

սկսած 8.9%******

from 9.9%

from 7.3%******

from 9.0%

Description of floating component

5.4% fixed component + variable component (yield-beforematurity of 6- month government bonds of Armenia)

 

6.6% fixed component + variable component (ICE LIBOR USD 6 Month)

 

7.3% fixed component + variable component (ICE LIBOR EUR 6 Month – only where positive)

 

Loan provision fee (chargeable lump-sum at the time of provision). The bank can define a schedule for payment of loan provision fee, in which case any fee outstanding at the time of repayment of loan before the due date shall be payable together with early repayment of loan or in whatever other manner the bank may define.

Loans with less than 1-year term: 0-0.5% of contractual loan amount 1-2 years: 0-0.7% of contractual loan amount

Up to 1.5%

More than 2 years: 0-1.5% of contractual loan amount Loans secured against cash collateral: 0%

6

Late payment fee**

Fine in the amount of 0.13% of overdue loan/interest for each day beyond terms

8

Loan repayment

As per schedule or at the end of term (monthly, quarterly, semi-annually or otherwise as defined under loan agreement)

9

Early repayment****

Early repayment fee in the amount of up to 6-month interest on repaid sums where envisaged under loan agreement

10

Collateral

Cash, short-term T-bills, standard gold bars, bonds issued by Ameriabank

 

Property and equipment, guarantees and warranties, other securities

 

Cash flows, working assets or mixed collateral

 

Personal guarantees of founders/ultimate beneficiaries of business as additional security

 

11

LTV (loan to value) ratio****

Max 100% for cash, T-bills, standard gold bars, bonds issued by Ameriabank (if the currency of loan is the same as that of collateral or, if different, both currencies are included in SDR basket) and max 95% (if the currency of loan is different from that of collateral, except for currencies included in SDR basket)

 

 a) up to 80% of appraised value of collateral for real estate; 90%, if the debt service coverage ratio (DSCR) of borrower is 1.5 or higher

b) up to 50% of appraised value of collateral for movable property; 60%, if DSCR is 1.5

c) up to 30% of appraised value of collateral for inventories (finished goods, raw materials, etc.); IMPORTANT: the share of inventories in total collateral cannot exceed 40%

d) max 50% of average monthly bank account turnover for the most recent period from 6 (min) to 12 (max) months, for cash flows

e) for shares: - up to 80% of appraised value of collateral in case of running business - up to 60% of appraised value of collateral in case of business not yet running

 

12

Insurance of collateral

To the extent of outstanding loan, on annual basis

13

Application handling period

Up to 15 business days upon receipt of complete set of documents

 

Depending on the process, this term may be extended for an additional period of no more than 10 business days.

14

Validity period (period during which loan approval is effective)

- 45 days, unless otherwise specified by authorized body’s decision

15

Loan re-approval

Upon expiry of validity period but not later than within 60 days after initial loan approval date

16

Account with Ameriabank CJSC

Required

17

Loan restructuring application fee*****

AMD 500 000

18

Miscellaneous

60% of energy audit fee under the financing program is payable by borrower.

* The floating rate specified in clause 4 above can differ from the current one depending on revisions of floating component.

** The interest rate stipulated in loan agreement shall continue to be applied to overdue loans.

***Whenever applied, the maximum annual rate or aggregate amount of fines and/or penalties shall be within the limits defined under the legislation of the Republic of Armenia

**** Where the guarantee is the main security and there are pledged items as well, loan-to-value ratio is not applicable. This being the case, the collateral’s being main and/or extra security is defined by loan conclusions and approved by authorized body.

***** Loan restructuring fee shall be payable by the client in case the application for revision of terms was submitted by the client at their initiative and approved by the bank. The fee is paid based on analysis and conclusion prepared by relevant department of the bank for the client’s application. In other cases of restructuring loan terms charging of the fee shall be subject to decision of Large Credit Committee.

****** Loans at fixed rates are provided in AMD max for 5 years, USD and EUR max for 10 years.

Collateral Appraisal 

Fixed assets should be appraised by an independent company cooperating with the bank, subject to the company’s tariffs. Appraisal costs will be borne by the borrower. Appraisal costs vary within AMD 13,000-30,000 depending on the property type. Appraisal fee for the large property will be quoted on a case-by-case basis (negotiable).


Collateral Registration

All collateral registration costs (notarization, registration at the relevant branch of State Committee of the Real Estate Cadaster) will be borne by the borrower.


Such fees include:

  • Legal (notary) fee: AMD 14,000-16,000 (lump sum), if the loan is secured by a vehicle
  • Legal (notary) fee: AMD 13,000-20,000 (lump sum), if the loan is secured by real estate
  • Fee for statement from the cadaster on the real estate encumbrance: AMD 10,000
  • Security interest filing fee (for real estate): AMD 26,000
  • Armenian Police fee (lien and security interest in movable property): AMD 5,000 (lump sum)

 

Collateral insurance 

To the extent of the principal/outstanding loan, on annual basis. The collateral shall be insured by independent insurance companies cooperating with the bank. The following items are subject to insurance: real estate, except for land, movable property, inventories, such as finished goods, raw materials, etc. (upon request). Insurance costs shall be defrayed by the borrower.


When applying for a loan, make an informed decision

You can get acquainted with the terms of the loan here.

Last updated on 29.09.2021, 11:49