Convenient Loan

• Loans are provided in AMD and USD
• Loans are provided to farmers, sole proprietors and legal entities operating in Armenia
• Minimum loan amount - 350,000 AMD or 800 USD
• Maximum loan amount - 3,000,000 AMD or 7,400 USD
• Loan term – 6-24 months
• Annual nominal interest rate: AMD 14.4%, USD 11%
• Annual effective interest rate: AMD 12-30%, USD 11-24%
• Disbursement method - cashless, transferred to client's bank account
• One-time loan disbursement fee - not applied
• Monthly loan servicing fee - 0.8%
• Early repayment penalty - not applied
• Loan application review fee - one-time 5,000 AMD
• Penalties and fines - 0.12% daily on overdue principal, 0.12% daily on overdue interest
• Loan repayment schedule - flexible schedule adapted to client's cash flows

For possible additional fees, see details - Loan Tariffs

Previous loan terms here

• Loan approval takes up to 1 business day and is maximally adapted to make servicing of existing clients (farmers and SMEs) faster and more efficient
• To promote development of persons operating business or agriculture in Armenia, the Company offers more flexible fixed repayment schedules with possible deferred principal payments
• This loan type allows bypassing the requirement to provide security (pledge or guarantee), i.e. borrow without additional collateral costs

Individual Borrower

• Identity documents (Armenian passport/ID card)
• Public services number or statement of non-receipt

Sole Proprietor Borrower

• Identity documents (Armenian passport/ID card)
• Public services number

Legal Entity Borrower

• Statement from state register
• Decision of authorized body on taking the loan

The Company may request additional documents or information under "Know Your Customer" principle

Documents must not be older than 15 days at submission

• Loans are provided to individuals, legal entities and sole proprietors for replenishing working capital in business and agribusiness

Attention: FOR LOANS UP TO 5 MILLION AMD, THE LENDER WILL PROVIDE YOU AND THE GUARANTOR(S) WITH AN INDIVIDUAL SHEET OF CONSUMER LOAN ESSENTIAL TERMS.

Attention: YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL INSTITUTION IN YOUR PREFERRED WAY — BY MAIL OR ELECTRONICALLY. ELECTRONIC COMMUNICATION IS MOST CONVENIENT: AVAILABLE 24/7, NO RISK OF PAPER LOSS, ENSURES CONFIDENTIALITY.

Attention: COLLATERAL MAY BE FORECLOSED IF YOU FAIL TO MAKE TIMELY INTEREST AND PRINCIPAL PAYMENTS. IF COLLATERAL VALUE IS INSUFFICIENT, OBLIGATIONS WILL BE COVERED FROM YOUR OTHER PROPERTY.

Attention: IF YOU FAIL TO FULFILL OBLIGATIONS, THE LENDER WILL SEND INFORMATION TO THE CREDIT BUREAU AFTER 3 BUSINESS DAYS, FORMING YOUR CREDIT HISTORY. YOU HAVE THE RIGHT TO RECEIVE YOUR CREDIT HISTORY FROM THE BUREAU ONCE A YEAR FREE OF CHARGE.

Attention: POOR CREDIT HISTORY MAY PREVENT YOU FROM OBTAINING LOANS IN THE FUTURE.

Attention: HOW TO IMPROVE POOR CREDIT HISTORY: AVOID EVEN ONE-DAY DELAYS, FULLY REPAY PAST OVERDUE PAYMENTS, AVOID GUARANTEEING UNRELIABLE PERSONS.

Attention: LOAN INTEREST IS CALCULATED BASED ON NOMINAL RATE. NOMINAL RATE SHOWS ANNUAL INTEREST COST ON OUTSTANDING BALANCE. INTEREST IS CALCULATED DAILY ON ACTUAL OUTSTANDING PRINCIPAL. CALENDAR YEAR IS USED.

Attention: Nominal interest rate is the rate announced by the financial institution on which interest payments are calculated.

Effective interest rate shows what the nominal rate would be if it included all mandatory fees.

EFFECTIVE INTEREST RATE CALCULATION CAN BE FOUND HERE.

• Loans are provided to
  1. farmers, sole proprietors and legal entities operating in Armenia
  2. individuals and sole proprietors aged 18-70
  3. borrower must act in own name and benefit; prohibited for third parties
  4. at application, no overdue obligations; total overdue days in last 6 months ≤ 15
• Loans issued at head office and branches
• Decision within max 1 business day after documents submission
• Upon positive decision, loan disbursed within max 1 banking day
• Disbursement cashless
• Loans for clients with cooperation experience with "Credit Concept" UCC CJSC for business or agricultural purposes
• Positive decision factors: previous creditworthiness assessment, stable income, positive credit history, long work experience
• Rejection factors: insufficient income, frequent delays, high debt burden, specialist/committee opinion
• Credit history reflects credit behavior. Positive history important for approvals. Formed by timely repayments and targeted use. Details at www.abcfinance.am and www.acra.am
• Credit inquiry mandatory. New applications may negatively affect credit score; monitoring inquiries have low/no impact. Inquiries possible throughout contract term
• Loan statements provided free during contract term
• NO EARLY REPAYMENT PENALTIES