ArtsakhbankLet's Reach The Top Together


General Terms

  • Artsakhbank, CJSC, provides legal entities, private entrepreneurs, and individuals engaged in agricultural activities with commercial lending to implement entrepreneurial and agricultural activities.
  • The Bank finances both skilled Customers engaged in entrepreneurship at least for six months at the time of applying to the Bank to receive financing and start-ups. 
  • The Bank finances those Customers who do not have tax and similar overdue obligations at the time of applying to the Bank.

 

 

Agricultural Loans
/within the scope of Support Fund of Village and Agriculture of the AR/within the scope of State Support Programs for SMEs


Loan Term
Loans are provided depending on the loan purpose:
  • short-term - maximum 1 year,

  • long-term - maximum 7 years

Loan Currency AMD/USD
Loan Limit There is no maximum amount defined.
Annual Interest Rate*
 
AMD - 18%
USD - 15%
Annual interest rate of macro financing is defined upon the analysis of Customer based on the appraisal results of financial and risk normatives. 
Annual Interest Calculation  Interests against provided financial assets are calculated on actually used calendar days for a 365/366-day year. Obligations repayment modes: annuity, spring; grace periods or non-standard schedules are fixed in the Agreements signed with Customer.
 Loan to Value Ratio

Maximum coefficients for financing to value ratio are:

•    in case of pledge of immovable property and valuable metals - 80% of the pledge's value,
•    in case of pledge of a vehicle - 60% of the pledge's value,
•    in case of pledge of equipments - 50% of the pledge's value,
•    in case of combined pledge immovable property, vehicles, and equipments, the immovable property should be 30% in the structure of collateral. Moreover,

- if the immovable property is 50% and more of the whole pledge's value, 75% of the pledge's value,
- if the immovable property is 50%-30% of the whole pledge's value, 65% of the pledge's value,

• in case of primary collateral

- in case of pledge of financial resources in the same currency - 100% of the pledge's value,
-in case of pledge of financial resources in other currencies or pledge of standardized gold bars - 95% of the pledge's value,

• in case of pledge of securities and other cashable assets - 90% of the pledge's value. 
Loan Disbursement Mode
Loans are disbursed one-off or with tranches depending on loan purpose, cash or non-cash.
 
Loan Obligations Repayment Mode
  • Loan obligations should be repaid in standing payment order, as a rule, by monthly redemptions. The mode and schedule of loan obligations repayments are defined taking into consideration the Borrower's business cycles, frequency of cash flow and loan purpose.
  • Depending on the features of Borrower's business, the Bank may define grace period for repayment of loan principal and/or interest.
Other Terms
Lease of collateral and registration of changes of collateral's physical characteristics are allowed by the terms set forth by the Bank.

Commissions 

Up to AMD 3 000 000/equivalent foreign currency  
Up to AMD 20 000 000 /equivalent foreign currency 
Up to AMD 100 000 000 /equivalent foreign currency
 Loan Application Consideration
AMD 5 000        AMD 20 000    
AMD 100 000
 Loan Disbursement
0.1%, min. AMD 20 000, max. AMD 100 000
Loan Encashment
0.4%                            0.3%                  
0.2%                 
Penalty for Overdue Loan Obligations In the amount set forth by the Agreement depending on the nature of transaction.     

* The above mentioned interest rates are the minimum limits. Actual interest rates are subject to approximation for each financing based on financing purpose, structure, The Customer's description, financial and risk assessments and other criteria.

 

WARNING
Your property may be confiscated if You fail to make repayments of interests and loan principal in due time.

If You fail to make repayments of interests and loan principal in due time, information on You will be registered in the Credit Register.

For not objective use of financing or part of it the Bank may both charge a fine and increase interest rate against financing and take other measures based on the order set forth by the Agreement.


  • Security and Insurance
    Any property and/or property right not forbidden by the RA and AR Legislations and by the Bank’s crediting policy may be considered as collateral.

    Equipments are seen as collateral if there are documents proving ownership and it is possible to perform identification. In other cases such collaterals are viewed as secondary ones.

    Security with subsequent pledge is allowed, if the primary right for pledge also belongs to the Bank; while Customer’s gross loan obligations/collateral ratio satisfies the limits set forth by the Bank.

    The Bank may demand insurance for any property to be pledged depending on the aim of financing, transaction and description of the property to be pledged. Insurance of vehicles (taxi, public transport, or freight cars (vehicles used in agriculture or construction may be exceptions)) to be pledged is a must, while in case of absence of insurance the interest rate against financing is subject to increase by 2%-3%, equal to other cases with different terms.

    While estimating the financing amount/collateral value, the value of pledge is calculated based on the following principle:

    - in case of vehicles, equipments, securities, and high liquid assets – liquidation price,
    - in case of other means – market price.


    Regardless of collateral, guarantees of the entities, making decisions during the Customer’s regular activity, and real owners are desirable, while in case of lack of liquid tangible assets it is a must.

       

  •  Factor and Term of Decision-Making, Procedure of Customer Notification

    The Bank finances those Customers who do not have overdue tax and similar obligations at the time of applying to the Bank, as well as do not have overdue obligations in the financial system within the previous 1 /one/ year or they have not been classified as problem loans for another reason.

    Financing application may be rejected, if:

     

    - Customer's profits do not meet the requirements for loan receiving,
    - there is a suspicion or fact on non-trustworthiness for presented documents, or they are incomplete,
    - Customer has a negative credit history,
    - the suggested pledge is insufficient,
    - there are other reasons defined by the Bank's Crediting policy.

    Decision on the loan disbursement is made within 15 /fifteen/ days upon the submission of the documents necessary for crediting.

    The Bank's financial advisor informs the Customer about the adapted decision. In case of rejection a reference with refusal reasons is provided to the Customer.

  • Required Documents

    1 List of Documents/Data Required for Analysis

    Primary

    Application for provision of commercial lending services including the aim of financing, directions of spending and amounts. Justification document on data available in the application may be required.

    Reference from protocol of decision of general meeting or the single participant on receiving of finance and the property to be pledged.

    Copy of State Registration Certificate.

    TIN (tax code).

    Passport copies of founders, directors, and chief accountants.

    Certificate on shares of the company in other organizations and on shares of shareholders.

    Certificate on tax and social obligations.

    Copy of either ownership certificate of operation place or lease certificate, in case of physical entity - a certificate from place of residency, as well.

    In case of certified/licensed activity - patents/license.

    Basis to become a owner (buy and sell agreement, etc.) of means (immovanle property, primary assets, movable property, material values, etc.) to be pledged and documents certifying ownership right/ownership certificates, while in case of cars and equipments - originals of technical passports/.

    Act on appraisal/reappraisal/ of suggested pledge or valuation basis.

    In case of individual pledgers, warrantors - copies of their passports and consent on making query of credit history.

     In case of private entrepreneurs - certificate from Borrower's place of residency.

     Additional Documents/Data on Financial-Economic Activity

     Financial reports approved by tax inspectorate or by audit conclusion. Depending on the transaction type reports of the corresponding period are required, if the financing is above gross AMD 35 mln or equivalent, in other cases - by the Bank's demand.

     Documents on solvency and/or other documents approving the source of income - in case of an individual.

     List of primary assets including the quantity, balance value and date of acquisition.

     Cash flow. Depending on financing type it is required for the corresponding period.

     Certificate on raw materials.

     Certificate on annual volumes of production by months. Depending on financing type it is required for the corresponding period.

     Annual volumes of product realization and/or service provision by months.

     Depending on financing type it is required for the corresponding period.

     Revenues for the realized volumes by months. Depending on financing type it is required for the corresponding period.

     Expenditures by articles and by months. Depending on financing type it is required for the corresponding period.

     Predictions (cash flows, activity enlargement, etc.)

     Flow of bank accounts (for the previous year and ongoing period).

     Certificate on loans acting in other banks (balance, maturity date).

     Balance of receivables and payables by appellation of debitors and creditors, accordingly start and maturity dates. 

     Other documentation certifying agreements, application-orders, regular sale process.

     Other Documents/Data

     Additional documents may be required an case of necessity.

     

     2 Documents/Data on Formulation

    Certificate from the appropriate body, which should include data on:

    a/ ownership of shares:

    in case of LLC - from State Register,

    In case of joint stock company - from the specialized company managing the registry of the issued shares' owners of issued shares, 

    b/ the latest change of the Charter.

    Documentation on collateral insurance, payment orders for insurance (in case of demand for insurance).

    A combined certificate issued by the respective department of the State Committee of the Real Estate Cadastre on restrictions in respect of the residential property.

     Letter provided by the State Automobile Inspectorate concerning the limitations applied on the car to be pledged, on other restrictions or their absence.

     Marriage (or husband's/wife's death) certificate (in case of individuals).

    In case of individual Lenders - marriage certificates.







Updated 2019-07-03 11:56:49



 
USD 476.50 479.00 477.51
EUR 530.00 536.00 533.90
RUB 7.54 7.72 7.66
CHF 478.00 487.00 486.16
GBP 631.00 644.00 640.53
GEL 145.00 178.00 167.40
CAD 346.00 363.50 362.74
 
USD 476.50 479.00 477.51
EUR 530.00 536.50 533.90
RUB 7.55 7.73 7.66
CHF 482.00 488.00 486.16
GBP 632.00 645.00 640.53
GEL - - 167.40
CAD - - 362.74

ARCHIVE Updated 13.12.2019 18:00


 
XAU 1 gram - 38000.00
XAU 50 gram - 1250000.00
XAU 1000 gram - 22900000.00
XAG1000 gram - 390000.00
XAU 1 գրամ - -
XAU 50 գրամ - -
XAU 1000 գրամ - -
XAG1000 գրամ - -

ARCHIVE Updated 13.12.2019 09:45