Agricultural loans

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Annuity Reducing

Combined financial product- Subsidized Agricultural Microloan

2,5 - 4 million AMD

0% interest rate

Up to 60 months-term from which

Up to 18 months are grace period

With the opportunity to receive a grant up to 25% of the loan amount

 

If You need money for capital investments in Your micro and small rural business development*, and if You are registered and engaged in agricultural activities:


       a) Establishment of orchards and care

       b) Greenhouse work

       c) Organization of dried food production

       d) Beekeeping

      e) Refrigeration establishment

 

then ''KAMURJ'' UCO CJSC offers You a combind subsidized agricultural Micro-loan without a pledge, with the following conditions:



Loan granting conditions 

Indicators

limits

Borrowers

RA citizen and RA resident individuals, RA resident individual entrepreneurs, RA resident legal entities

Age limitation

Borrower's age at the moment of applying minimum 18, maximum 70

Loan amount 

2,5 - 4 million AMD

Loan maturity       

Up to 60 months**

Annual interest rate

0%


12% interest rate stimulated by the “KAMURJ” UCO out of which 12%

Annual factual interest rate

0%-12.68%

Grace period for loan payment

Up to 18 months


(when only interest and service charges are repaid)

 Payment mode

 Annuity (equal monthly payments)

 Equal monthly payments on the loan amount

 Other - customer cash flow matching  

Payment mode

Equal monthly payments (annuity), or

Contractual Individual Schedule: (the interest is calculated against the loan amount balance) the minimum amount of repayments and amount of loan should be planned depending on the loan term.

Granting fee          

Free of charge

Loan application review fee

Free of charge

Applicable penalties

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

Lending territory

 RA, Ararat province (Shahumyan, Nor Ughi, Pokr Vedi, Surenavan)
 RA, Vayots Dzor province (Arpi, Zaritap)
 RA, Syunik province (Meghri, Agarak, Alvank, Lehvaz, Karchevan, Nrnadzor, Shvanidzor, Spandaryan, Darbas, Harzhis)

Loan granting method 

Non-cash

Basic Security

Guarantees of minimum 2 individuals

Early payment penalty

The borrower should pay accrued interests and penalties (if any) until the early payment date.

Maximum term of loan approval

Within 7 days after presentation of all the required documents

Maximum length of  loan granting

Within a day after presentation of all the required documents

 

 

The project is implemented in cooperation with the Ministry of Agriculture, the GFK  and the Company, with a trilateral agreement approved by the cooperation of subsidized agricultural loans.


* In case of Capital investments,  the replenishment of working capital at the expense of credit funds should not exceed 30% of the total loan amount.

** In case of loans provided for the establishment of a traditional garden, maximum 84 months

 

 

List of necessary documents


 A certificate issued by the Agricultural Development Foundation. 

Customer identification document (passport issued by the Republic of Armenia) 

 

 

 

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.