BUSINESS CREDIT LINE

Development of entrepreneurial activity

Revolving or non-revolving credit line 

Monthly

Depending on the nature of the business

0.5%

None

0.1% daily

0.13% daily

A maximum of 70% of the market value of the collateral

•    Real estate and/or vehicle**,
•    Guarantee(s)
•    Other security may also be envisaged based on the decision of the Credit Committee, including agricultural machinery.
 

The production date of a vehicle at the time of pledging must not exceed:

•    for Russian-made cars: 5 years,
•    for cars manufactured in other countries: 10 years.
 

The car is subject to compulsory "Casco" insurance (against physical damage and car theft) in favor of the Organization, at least in the amount of the Loan and for the entire Loan period, subject to insurance agreement renewal annually.

The collateral is subject to appraisal by an independent valuation agency cooperating with Fast Bank CJSC and/or an employee of the Organization, depending on the loan amount.

Property valuation is performed free of charge by the Organization's employee.

In the event of full closing of a non-revolving credit line or partial premature reduction of the credit line limit during the first 3 years of the term of a Non-Revolving Credit Line, a penalty of 3% shall be applied to the amount paid prematurely; however, no penalty is applied in the event of a lump-sum or early reduction of the limit by up to 20% of the total contractual amount.

*** Applicable to credit lines with a contractual amount exceeding 100,000,000 or its equivalent in a foreign currency.

Guarantee provided by at least 1 individual (aged 18-65) or sole proprietors who have no current overdue obligations
 

•    The total number of overdue days for each guarantor in the last year must not exceed 30 days.
•    At least one of the Guarantors must be the owner of real estate or be a registered employee.
 

Resident legal entity and sole proprietor of the Republic of Armenia