Terms
tariffs
Sole proprietor and legal entity deemed resident of the Republic of Armenia
Agriculture, Tourism, Manufacturing
Energy efficiency, promoting women's entrepreneurship, regional development, promoting digitalization and automation
For business development and expansion purposes
GAF-EIB LOANS/LEASING
AMD
10,000,000-2,000,000,000 AMD
11%
11.57%-12.23%
None
24-90 months
0-24 months
0.1% daily
0.13% daily
The Borrower has the right to repay the loan in full or in part before the due date
No early repayment penalty is applied
! The Loans/Leases are subject to refinancing by the European Investment Bank. In case the latter does not refinance the Loan/Leas, as well as in cases when it is used for other purposes, the annual nominal interest rate may be revised and set at a rate of up to 24%.
Annuity (equal monthly payment of principal and interest)
Differentiated (equal monthly payment of principal amount and monthly payment of interest)
Individual repayment schedule
Repayment method: based on the client's preference
Real estate (building) and/or vehicle* (Mortgage agreement is notarized),
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.
Guarantee provided by at least 1 individual (aged 18-65) who has no current overdue obligations
The total number of overdue days for each Guarantor in the last year must not exceed 30 days.
The Guarantor must be the owner of real estate or be a registered employee.
A maximum of 70% of the liquidation value of the collateral
In the case of purchasing passenger cars, trucks, construction equipment, road construction equipment and cranes, a 40% down payment is made, and in case of purchasing all other equipment and making a down payment or deposit equivalent to 50% or more, a simplified analysis is performed with no visit to the business site.
Minimum: 15%
The cost of the lease object includes the purchase price of the lease object, costs related to the import of the lease object into the Republic of Armenia (transportation, including other costs related to transportation, customs clearance, value-added tax, etc.).
The collateral is subject to assessment by an independent valuation agency cooperating with the Organization and/or an employee of the Organization, depending on the loan amount.
The assessment by an employee of the Organization is carried out free of charge.
About the EIB: the European Investment Bank (EIB) is the European Union's lending organization. The EIB is one of the largest financial institutions.
It helps the economy, creates jobs, promotes equality and improves the standards of living of EU citizens and people in developing countries.
The EIB has over 60 years of experience in project financing.
The beneficiaries of the Program are Small and Medium Enterprises (Mid-cap companies) operating in the fields of agriculture, tourism and manufacturing.
The target areas of the Program are energy efficiency, promoting women's entrepreneurship, regional development, promoting digitalization and automation.
The advantages of the Program are:
Beneficiaries are financed at a preferential interest rate, which is significantly (about 2 percentage points) lower than the interest rate of other similar loans offered by FAST BANK CJSC without EIB financing.
A flexible loan repayment schedule is provided, including a grace period for principal repayment.
For questions regarding Environmental and Social Issues of EIB-financed programs, please contact FAST BANK, email: [email protected], or tel. (+374) 010 51 00 00.
ATTENTION: IN THE EVENT OF NON-PERFORMANCE OR INCOMPLETE PERFORMANCE OF YOUR OBLIGATIONS, THE LENDER SHALL, AFTER 3 WORKING DAYS, SUBMIT SUCH DATA TO THE ACRA CREDIT BUREAU AND THE CENTRAL BANK (CB) CREDIT REGISTRY, WHERE YOUR CREDIT HISTORY IS FORMED.
YOU HAVE THE RIGHT TO OBTAIN YOUR CREDIT HISTORY FROM THE CREDIT BUREAU FREE OF CHARGE ONCE A YEAR.
ATTENTION: A POOR CREDIT HISTORY MAY HINDER YOU FROM OBTAINING LOANS IN THE FUTURE.
ATTENTION: LOAN/LEASING INTEREST IS CALCULATED ON THE BASIS OF THE NOMINAL INTEREST RATE, WHILE THE ANNUAL ACTUAL INTEREST RATE SHOWS HOW MUCH THE LOAN/LEASING WILL COST IF THE INTEREST AND OTHER PAYMENTS ARE MADE WITHIN THE SPECIFIED PERIOD AND AMOUNTS. THE PROCEDURE FOR CALCULATING THE ANNUAL ACTUAL INTEREST RATE IS POSTED ON THE BANK'S OFFICIAL WEBSITE
You can find detailed information about credit history and credit score here
You can find other loan-related terms and conditions at the following link.