Business Loan

customer (activity)

legal entities and P/E included in communities which are supported with SME fund program


current and fixed assets purchasing




maximum 36 month


(Determined by the scale of  loan term  credit granting stage,  creditworthiness)


Attention this loan nominal interest rate can be modified by the company. *

Applicationfee 3 000 AMD for each borrower garantee and pledger 
Disbursement  not defined 

interest payments

monthly of loan's principal amount  residual 

principal repayments

monthly regular payments 

Grace period

up to 6 months 

minimal amount

200 000 AMD or equivalent to USD

maximal amount

5 500 000 AMD or equivalent to USD

loan repayment security

up to 1 000 000  AMD 2 guarantors or pledge , from 1 000 001-1 500 000 AMD 3 garantee or pledge, from 1 500 001-3 000 000 AMD pledge and garantee if necessary, from 3 000 001-5 000 000 AMD pledge and 1 garantee

Pledge  real estate, land   
loan/pledge maximum ratio in urban areas 50% of the estimated liquidation value, in rural areas 30% of the estimated liquidation value  

1. legal entity applying for the loan

2.director or owner of legal entity

2. borrowers family members ( father, mother, wife, son)

(It is also seen cases of co-ownership)

penalty for overdue loan amount 0.3% of overdue loan amount for each overdue calendar day
penalty for overdue interest 0.3% of overdue interest for each overdue calendar day
early redemption penalty not defined
method of lending cashless
decision making time 3 weekday
decision inform time 2 weekday
Loan extension term 7 weekday 
Factors for rejection of loan application

the customer has not submitted the necessary documents to obtain credit and other grounds

The application submitted credit facility does not meet ECLOF UCO's mission,

the customer is engaged in the types of activities not financed by the ECLOF UCO,

customer has and / or had the financial liabilities, which were repaid in unacceptable delays,

not kept the rules adopted for the selection of the customer and / or joining the group,

ECLOF UCO customer's creditworthiness is low or there are other risks accepted by ratings

Loan registration place    
amending fee in case of approved application*** 15 000 AMD
the same condition loan reconfirmation fee*** 15 000 AMD  
The current loan contract modification fee*** 20 000 AMD  
Collateral amendment application fee *** 50 000 AMD for every contract  
Customer demand to release any of the security measures *** 50 000 AMD  
reference to the subsequent Pledge Agreement*** 50 000 AMD  
collateral insurance*** can be set by the Credit Committee.  

The list of necessary documentation

universal sheet 
Attention  The interest payments are calculatedbased on nominal interest rate, and the annual interest rate shows how much the loan will cost for you in case of paying the interest payments and other fees during the stated period. The order of calculating annual factual interest rate you can find here.
Warning  The borrower and the surety with all their private property ( house, car, salary or other property) are equally responsible for their undertaken obligations in front of Eclof  UCO: The property of the borrower and/or the surety can be repossed by law if the borrower doesn’t make the interest payments and loan repayments on time.
Warning  If the borrower doesn’t duly make the principal repayments and interest payments on time, the appropriate information about The Borrower and the surety will be registered in  CB of RA and «ARCA»loan institution.
   Attention Before signing the loan agreement personal sheet  is provided according to the regulation N8/05 of Central Bank of Armenia      “Comunication discipline of consumer and creditor, the    bank and the depositer, conditions, forms and minimum requirements”
ECLOF UCO all payments are made in cash.
** Overdue loan amount and penalties / fines accrued on overdue interest amount is limited to the sum of 30% of the loan balance and interest on the overdue amount.
*** The loan committee may be set to be made more stringent requirement
Updated on 25.06.16