Agricultural loans

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Annuity Reducing

Entrepreneurial MICROloan

1,500,000 - 3,000,000 AMD

Interest rate-13.9%

Up to 36 months term from which

up to 27 months  are grace period.

WITHOUT PLEDGE

 

If You need money for

 

      trade, production, service,
     • agriculture

 

As well as for other similar purposes, then Kamurj UCO offers You business loan with following conditions:

 

Loan providing conditions 


 INDICATOR  CONDITIONS
Borrowers* 

RA citizen (s) and RA resident individual (s) (individual entrepreneurs)

The resident legal entities

Age limitation

Borrower's age at the moment of applying minimum 20, maximum 70

Loan Amount 1,500,000 - 3,000,000 AMD
Annual interest rate 13.9%
Loan Maturity For capital investments**  up to 36 months
Replenishment of working capital up to 24 months
Grace period
(when only the loan interests are repaid)

For capital investments**  up to 27 months
Replenishment of working capital up to 18 months

Granting commission     Free of charge
Loan monthly servicing fee  Free of charge
Cash withdrawal fee Free of charge
Lending Territory  The Republic of Armenia
Loan safety

Guarantee of minimum 2 individuals

Borrower’s family members are not considered as loan repayment guarantors.     

Preterm repayment conditions

The borrower is obliged to pay until the prepayment day the calculated interests, which cannot be less than the first eight interest amount stipulated in schedule as well as penalty fees (if they exist). 

Penalty calculation  

Overdue loan amount and overdue interest rates 0.12% per day (maximum 90 calendar days)

Maximum term of loan approval Within 7 days after presentation of all the required documents
Maximum length of loan granting Within 1 days after presentation of all the required documents
Own contribution

At least 20% of the project amount must be made by the borrower's own resources

 

The program is implemented  in partnership with the Asian Development Bank. 

*For the Private Entrepreneur’s crediting it is provided in case of simultaneous availability of not less than 6 months state recording and actual activity conditions. Except it for the Private Entrepreneur’s the last 6(six) month activity must be without interruption.

** In case of capital investments- replenishment of working capital funds shall not exceed 20% of the loan amount.


 

Preterm repayment conditions


The borrower is obliged to pay until the prepayment day the calculated interests, which can not be less than the first six interest amount stipulated in schedule as well as penalty fees (if they exist).

 

 

Factors influencing on loan granting approval or rejection decisions

Forbidden investment activity

 

 

List of necessary documents

 

RA passport

Other documents, the necessity of which can be decided by the company. 

 

 

Actual annual interest rate

 

ATTENTION: Actual annual interest rate shows how much the loan will cost to you after paying the interest rate and other payments in defined deadlines and amounts. You can find the calculation order of annual interest rate by pressing here 8/01 

 



For 30 boarding communities of Tavush and Vayots Dzor regions almost all types of loans up to 4 million AMD or up to 10.000 USD are provided with the following privileges:

 

   Without loan granting fee 

   Without commission fee

 

 Annual interest rates of all types of loan have been reduced to 18%. Only the annual interest rate of the individual loan for real estate renovation is reduced to 16%.     

 

The list of board communities of RA who have privileges 



 

ATTENTION: If you do not perform your whole liabilities within prescribed time, the information about you will be recorded in the Credit Register of the Central Bank of Armenia by the creditor.

 

WARNING: Your assets (house, car, etc.) may be confiscated if you do not make payments of interest and credit amount within the prescribed time as well as other regulations specified in the agreement between you and the “Kamurj” company.