
Micro agro
If you are engaged in farming and you need agricultural loan to solve current problems, AraratBank offers Micro agro loan.
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Currency
AMD, USD
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Maximum amount
AMD 20,000,000 or equivalent USD
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Period
minimum 24 maximum 60 months
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Interest rate
AMD: minimum 13%, USD: minimum 11%
Loan purpose | Replenishment of working capital, financing of current agricultural expenses, acquisition of fixed assets, investments in fixed assets, repayment of accounts payable |
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Loan amount | Minimum AMD 1,200,000 or equivalent to US dollars maximum 20,000,000 Armenian drams or equivalent US dollars | |
Loan maturity | at least 24 months, maximum 36 months, replenishment of working capital, financing of current agricultural expenses, at least 24 months, maximum 60 months, acquisition of equity instruments, investments in fixed assets, repayment of accounts payable (except for the second and subsequent loans provided under general loan agreements with a maturity of at least 12 months) | |
Loan repayments | Annuity or flexible payment, proceeding from the peculiarity of activity, maturity of the loan under consideration and cash flows of the potential borrower (For the loans disbursed under the flexible repayment schedule, a grace period can be set out for the whole period of lending, provided that the borrower shall repay the accrued interests for 6 months) |
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Loan interest rate | Annual nominal interest rate accrued over the outstanding amount of the loan disbursed in AMD | minimum 13% |
Annual nominal interest rate accrued over the outstanding amount of the loan disbursed in foreign currency | minimum 11% | |
Loan security | Moveable and immovable property, cash funds available at the Bank, guarantees issued by individuals and legal entities, other collaterals acceptable for the Bank |
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Penalty on past-due interest | 0.07% daily | |
Penalty on past-due principle | 0.06% daily | |
Loan service fee | AMD 20,000 |
DOCUMENTS REQUIRED FOR THE ANALYSIS OF THE LEGAL STATUS AND FINANCIAL POSITION
- Loan application;
- Copies of founding documents — state registration certificate, tax code;
- Copies of the passport and social security card;
- Financial statements for the previous reporting period, VAT, social payments, income tax, (in case the loan amount exceeds AMD 8.000.000 or equivalent foreign currency);
- Statement issued by tax authority on outstanding liabilities towards budget, (in case the loan amount exceeds AMD 8.000.000 or equivalent foreign currency);
- Copy of license, upon carrying out an activity subject to licensing in cases stipulated by the legislation of the Republic of Armenia.
IN CASE LOAN IS SECURED BY GUARANTEE
- Copies of the passports and social security cards of the guarantors;
- Employment reference, provided that a guarantor’s income is not generated from entrepreneurial activity and/or the guarantor is not a family
IN CASE REAL PROPERTY IS PLEDGED
- Ownership certificate (original);
- Grounding document on the right of ownership (upon request);
- Copies of ID documents of the owner (co-owners), (marriage certificate of co-owners);
- Statement issued by territorial subdivision of the State Committee of Real Estate Cadastre under the Government of the Republic of Armenia regarding restrictions on the property to be pledged (such statement shall be provided upon positive lending decision);
- Appraisal report made by a person holding a respective
IN CASE OTHER COLLATERAL IS PLEDGED
- List of property, by specifying the unit of measure, quantity, balance sheet value and, upon availability, acquisition documents;
- In case of the vehicle, vehicle registration document and certificate of title (original copy);
- In case of guarantee, guarantors’ passports and social security cards;
- Appraisal report made by a person holding a respective license (upon request).
LIST OF REQUIRED DOCUMENTS FROM REPEATED MICRO LOAN BORROWERS WITHIN THE FRAMEWORK OF MASTER LOAN CONTRACT
- Financial statements for the previous reporting period, VAT, social payments, income tax (in case the loan amount exceeds AMD 8.000.000 or equivalent foreign currency);
- Statement issued by tax authority on outstanding liabilities towards budget (in case the loan amount exceeds AMD 8.000.000 or equivalent foreign currency);
Other additional documents upon
A customer must submit original copies of the documents above or duly verified copies thereof.
DOCUMENTS REQUIRED FOR THE ANALYSIS OF THE LEGAL STATUS AND FINANCIAL POSITION
- Loan application;
- Decision of the authorised body on loan disbursement and pledge of property;
- Copies of founding documents — Charter with all amendments and supplements to be made thereto, State registration certificate with its inserts, including the insert on the information about director of the company, tax code;
- Statement issued by State registry on the amendments to the Charter, Director and shareholders, including a statement issued by Central Depository (registry keeper) for open joint stock company and a statement issued by shareholder registry keeper for closed joint stock company;
- Copies of the passport and social security card of Director and the shareholders with a stake exceeding 25%;
- Financial statements for the previous reporting period, VAT, social payments, income tax (in case the loan amount exceeds AMD 8.000.000 or equivalent foreign currency);
- Statement issued by tax authority on outstanding liabilities towards budget (in case the loan amount exceeds AMD 8.000.000 or equivalent foreign currency);
- Copy of license, upon carrying out an activity subject to licensing in cases stipulated by the legislation of the Republic of Armenia
IN CASE REAL PROPERTY IS PLEDGED
- Ownership certificate (original);
- Grounding document on the right of ownership (upon request);
- Copies of ID documents of the owner (co-owners), (marriage certificate of co-owners);
- Statement issued by territorial subdivision of the State Committee of Real Estate Cadastre under the Government of the Republic of Armenia regarding restrictions on the property to be pledged (such statement shall be provided upon positive lending decision);
- Appraisal report made by a person holding a respective
IN CASE OTHER COLLATERAL IS PLEDGED
- List of property, by specifying the unit of measure, quantity, balance sheet value and, upon availability, acquisition documents;
- In case of the vehicle, vehicle registration document and certificate of title (original copy);
- In case of guarantee, guarantors’ passports and social security cards;
- Appraisal report made by a person holding a respective license (upon request).
OTHER ADDITIONAL DOCUMENTS THE NECESSITY OF WHICH IS DETERMINED BY THE BANK
- The Bank may require to have the loan security insured against the risks of loss and damage and submit necessary documents related thereto;
- Other additional documents upon
LIST OF REQUIRED DOCUMENTS FROM REPEATED MICRO LOAN BORROWERS WITHIN THE FRAMEWORK OF MASTER LOAN CONTRACT
- Loan application;
- Decision of the authorised body on loan disbursement and pledge of property;
- Financial statements for the previous reporting period, VAT, social payments, income tax (in case the loan amount exceeds AMD 8.000.000 or equivalent foreign currency);
- Statement issued by tax authority on outstanding liabilities towards budget (in case the loan amount exceeds AMD 8.000.000 or equivalent foreign currency);
Other additional documents upon
A customer must submit original copies of the documents above or duly verified copies thereof.
Please follow the Armenian version
Your property (house, vehicle, or other) may be confiscated in the manner provided for by law where you fail to repay your interests and principal in time.
Where you fail to perform your obligations either fully or partially, the Lender shall send those data to the credit bureau within a three-day period, where your credit history is generated. You shall have the right to obtain your credit history from the bureau free of charge. Attention: A bad credit history may hinder lending in the future.
You have the right to communicate with a financial institution of your choice by post or e-mail. Receiving information electronically is the most convenient option. It is available 24/7, free from the risks of loss of paper information and ensures privacy.
Term | Payable interest | Partial repayment of the loan | General payment |
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Page updated 15.01.2021 | 14:00
In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.