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Energy efficiency loan

Energy efficiency loan

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Are you in search for the ways to reduce the cost of your production and offered services? ARARATBANK offers you a new type of loan. This loan will save you energy consumption, reduce your costs, and contribute to the preservation of the green environment.

  • Interest rate

    11-12% Up to 48 months- 11%, 49-60 ամիս-12%

  • Period

    49-60 months

  • Maximum amount

    USD equivalent to up to EUR 500 000

  • Currency

    USD

Conditions
Loan purpose        1.Replacement of heat supply systems. 
2.Replacement of incandescent light bulbs with new fluorescent lamps.
3.Replacement of old neon lamps with new T5 lamps. 
4.Thermal solar systems for sanitary hot water.
5.Replacement of conventional heating systems with heat pumps. 
6.Installation of solar photovoltaic systems (up to 350kw).
7. Insulation of external walls and roofs.
8.Replacement of external windows and doors. 
9.Installation of thermostatic valves on radiators. 
10.Supply of energy saving equipment and parts thereof. 
11.Replacement of old heat supply systems with a new upgraded boiler for the centralized heating system. 
12.Replacement of pumps, coolers or other motors.
13.For other purposes.
Loan amount USD equivalent to up to EUR 500 000
Loan disbursement Non-cash
Loan maturity Up to 48 months
Annual interest rate 11%
Loan maturity 49-60 months
Annual interest rate 12%
Mode of interest accrual on the loan balance, accepting year as 360 days
Mode of loan and interest repayments Annuity - each month evenly repaid amount, which includes both the loan and the interest amount. Even amortization - even principal repayments each month, gradually reducing interest amounts calculated over the reducing loan balance.
Loan security Movable or immovable property. Collateral appraisal shall be made by independent licensed appraisal companies at the rates set by appraisal companies.
Penalty on past-due interest  0.07% daily
Penalty on past-due principle    0.06% daily
Loan processing fee to be charged from the loan amount In compliance with SME and commercial loan fees
Customer opportunities Save energy, 
Decrease energy costs, 
Increase profitability and competitiveness,
Upgrade technologies and equipment,
Improve production capacity and efficiency,
Reduce waste and CO2 emissions
Required Documents

DOCUMENTS REQUIRED FOR THE ANALYSIS OF THE LEGAL STATUS AND FINANCIAL POSITION

  1. Loan application;
  2. Decision of the authorised body on loan disbursement and pledge of property;
  3. 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;
  4. 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;
  5. Copies of the passport and social security card of Director and the shareholders with a stake exceeding 25%;
  6. Written declaration on owners, shareholders and affiliated persons — first and last names (title), business and legal addresses, all types of entrepreneurial activity. In the sense of the present procedure, persons stipulated by Article 8 of the Law of the Republic of Armenia "On Banks and Banking" shall be considered related persons.
  7. Copies of the required documents enabling to carry out activity in the given field, such as licenses, certificates ,
  8. Statement issued by territorial tax inspectorate on outstanding liabilities towards budget (upon request);
  9. Statement on accounts receivable and accounts payable (detailed breakdown thereof upon request);
  10. List of fixed assets with balance value, balance of inventory, such as raw material, other materials and finished products (upon request);
  11. Financial statements for the previous reporting period, VAT, social payments, income tax;
  12. Statements on the turnover of bank account within the past 12 months upon availability of accounts in other banks;
  13. Effective contracts and agreements on sale, supply, lease etc., as well as invoices for import and export
  1. The most recent inspection act by territorial tax inspectorate or auditor opinion (upon request).

IN CASE REAL PROPERTY IS PLEDGED

  1. Ownership certificate (original);
  2. Grounding document on the right of ownership (upon request);
  3. In case pledging the property of a third party, 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 and decision of the authorised body on pledge of property;
  4. 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);
  5. Appraisal report made by a person holding a respective

IN CASE OTHER COLLATERAL IS PLEDGED

  1. List of property, by specifying the unit of measure, quantity, balance sheet value and acquisition documents;
  2. In case of the vehicle, vehicle registration document and certificate of title (original copy);
  3. In case pledging the property of a third party, 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 and decision of the authorised body on pledge of property;
  4. Appraisal report made by a person holding a respective license (upon request).

OTHER ADDITIONAL DOCUMENTS THE NECESSITY OF WHICH IS DETERMINED BY THE BANK

  1. The Bank may require to have the loan security insured against the risks of loss and damage and submit necessary documents related thereto;
  2. Other additional documents upon

LIST OF REQUIRED DOCUMENTS FROM REPEATED BORROWERS WITHIN THE FRAMEWORK OF MASTER LOAN CONTRACT

  1. Loan application;
  2. Decision of the authorised body on loan disbursement and pledge of property;
  3. Statement by the borrower on amendments to the Charter, Director and shareholders;
  4. Statement on accounts receivable and accounts payable (upon request);
  5. Financial statements for the previous reporting period, VAT, social payments, income tax

Other additional documents upon

A customer must submit original copies of the documents above or duly verified copies thereof.

 

Inportant to know

The project must result in energy saving of at least 15%.
Apart from technical specifications of the equipment/systems to be financed, the Borrower shall submit invoices of such equipment/systems, as well as shall submit technical specifications and energy consumption data of the equipment to be replaced, if possible.
. If the Borrower prematurely repays the loan, he/she will pay a penalty in the amount of 20 (twenty) percent of the interests no accrued yet, however, stipulated by the repayment schedule. 
. Loan decision shall be made in compliance with the SME and Commercial Loan Disbursement Procedure. 
. After the authorized body has made a loan decision, the borrower shall be notified about it within one day. The required documents shall be collected and the loan shall be disbursed within 15 business days after the loan disbursement decision has been made. If the loan is not disbursed within the mentioned period, the decision made by the authorized body shall be deemed as void and shall be submitted to the authorized body for a second consideration in case the loan application is subject to review. 
. In case the loan is disbursed in US dollars, changes in foreign currency exchange rate may influence the loan repayments.
. If the borrower has 10 (ten) and more past due days within 12 (twelve) months preceding the loan application, а loan processing fee shall be charged from the Borrower twice as much. 

Appraisal companies cooperating with the Bank. 

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Financial assistant
ABC finance

Page updated 29.01.2019 | 15:08

In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.