The loans are provided to existing and start-up small and medium enterprises, private entrepreneurs and farmers for the establishment and enlargement of their activity. There will be a special approach to those business-plans which will ensure sucessfull prosper of the business, its further sustainibility, creation of new workplaces and loan repayment.

The loans are provided to start-up or already registered legal entities or individual farmers on the following conditions:
• Loan amount: USD 1 500-60 000
• Maximum period is 60 months.
• Loan interest rate is 14% or 12% annual, calculated against the actual loan balance, based on calendar year (365 days), denominator – 365.
• Interest is paid on monthly basis.
• In the submitted business-plan the Borrowers should ensure at least 10% own contribution in case of existing entities and 25% in case of start-ups.
• The loans can be disbursed to portions depending on the business plan.
• The repayment schedule of the principal amount will be based on the cash flow of the business plan. A grace period of up to 12 months may be applied to postpone the repayment of the principal amount.
• No extra fee is charged for early loan repayments.
• Loans should be secured by collateral or by other means as defined by the law.
• Loans of up to USD 8000 can be provided also with 3 and more guarantees.
• Collateral is mandatory for loans over USD 8000 (the loan amount cannot exceed 75% of the value of the collateral).
The value of the collateral can be determined by a credit specialist. In this case assessment by an independent evaluator is not obligatory.
* Loan commission is 2% of the approved loan amount, not more than AMD 75 000; AMD 6 000 of which is the application processing fee which must be paid by the Applicant before the submission of the application and is non-refundable even if the application is rejected.
* In case of loans provided in US dollars, the service fee, interest and penalties (fines) should be paid in Armenian Drams based on the USD exchange rate defined by the CBA. Currency exchange rate fluctuations can affect the loan repayments.

1. Loan application form
2. Payment slip of commission fee of loan application (payment is made to 15700 04215010100 account number of “Aniv” UCO LLC.)
3. Copy of the registration certificate of State Registry (if the applicant is a Private Entrepreneur)
4. Copy of the Tax Payer’s Identification Number (if the applicant is a Private Entrepreneur)
5. Copy of the passport and social security card of the Borrower
6. Statement from the tax administration and social security authorities on being debt-free
7. Copy of the certificate of ownership or rental of the real estate of the business address
8. In case of guarantee: copy of the guarantor’s passport and social card, statement from the employer, copies of other documents certifying incomes, copy of the documents certifying the property right
9. Copies of financial reports of previous years certified by the tax administration (if available)
10. Copies of real estate or movable property under mortgage (if any)
11. Company business plan in case of applying for a loan over USD 8000 or AMD 3 mln. (for loans provided in the framework of From Water to Market Project of MCA-Armenia)

After approval of the loan allocation the following documents will also be required:

1. Bank account of the individual
2. In case of putting real estate up as collateral for submission to notary office:
• joint statement from the Cadastre on limitations against the property
• statement on the persons registered at the given address
• copies of marriage certificates in case the property owners are married
3. In case of putting movable property up as collateral:
• copy of the document certifying the property right (registration certificate, purchase order, invoice or other document, declaration on the acquisition and disposal of property)
• copy of the owner’s marriage certificate, if necessary

* The copies of all required documents should be backed by originals to prove their authenticity.


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