SME support fund program
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customer |
citizenship of Armenia |
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goal |
current assets purchasing |
fixed assets purchasing |
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currency |
AMD, USD |
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Term |
maximum 24 month |
maximum 60 month |
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interestrate (Determined by the scale of loan term credit granting stage, creditworthiness) |
AMD` 18%-20%, USD` 8%-12% Attention this loan nominal interest rate can be modified by the company. * |
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| Applicationfee | 10 000 AMD | ||
| Disbursement (determined by the scale of the loan term) | 2%-4% of the contractual (principal) amount in a lump sum , minimum 20 000 AMD | ||
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interest payments |
monthly of loan's principal amount residual |
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principal repayments |
monthly annuity payments |
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half-year regular payments |
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Individual repayment schedule, depending on the type of client activity feature |
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Repayment of principal possible grace period |
up to 3 months |
up to 6 months |
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minimal amount |
500 000 AMD or equivalent to USD |
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maximal amount |
5 000 000 AMD or equivalent to USD |
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loan repayment security |
up to 1 500 000 AMD loans 3 guarantors or pledge , for loans exceeding 1 500 000 AMD ` only pledge |
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pledge |
real estate , land |
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loan/pledge maximum ratio |
in urban areas 50% of the estimated liquidation value, in rural areas 30% of the estimated liquidation value |
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| pledger |
1. person applying for the loan 2. borrowers family members ( father, mother, wife, son) (It is also seen cases of co-ownership) |
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| 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 | 7 weekday | ||
| decision inform time | 2 weekday | ||
| Loan extension term | 7 weekday (անշարժ գույքի գրավադրման դեպքում՝ ավելացում գրավի գրավադրման 4 աշխատանքային օրը) | ||
| 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 |
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| Loan registration place | |||
| amending fee in case of approved application*** | 15 000 AMD | ||
| the same condition loan reconfirmation fee*** | 15 000 AMD | ||
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The current loan contract modification fee*** |
20 000 AMD |
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Collateral amendment application fee *** |
50 000 AMD for every contract | ||
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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
Ընդանրական Թերթիկ
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 Անհատական թերթիկ 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”