Loan provided based on X6 POS terminal turnover

RA resident – sole proprietor (PE) or legal entity.
Business must be registered and operating for at least 6 months.

Financing current expenses, Capital and mixed investments, Repayment of creditor liabilities, Loan refinancing

Commercial loan / credit line, based on turnover through POS terminal.

12 – 60 months

0 – 24 months

For Loan:

Annuity (equal monthly installments of principal + interest)

Differentiated (equal principal + decreasing interest)

Custom repayment schedule, depending on business specifics

For Credit Line:

Monthly interest payment

Principal at maturity or custom repayment schedule

Choice left to the client.

No loan classification in past 12 months

Total overdue days in past 12 months ≤ 30 days

No current overdue liabilities

For sole proprietors: age 18–65

None

0.1% daily

0.13% daily

5% of the early repaid amount.

Applicable for loans with a contractual amount exceeding 5,000,000 AMD or equivalent in foreign currency.

In case of limit reduction – 5% of the reduced amount.

In case of early termination of the agreement – 5% of the current limit.

Applicable for loans with a contractual amount exceeding 5,000,000 AMD or equivalent in foreign currency.

√ Client’s turnover on bank accounts maintained with “Fast Bank” CJSC

√ Guarantee by the company’s participant(s)/ultimate beneficiary(ies)

The guarantors must not have any outstanding overdue obligations.

The total number of overdue days on the guarantors’ obligations during the past year must not exceed 30 days.

Individual (18–65 years old), who:

√ Has no current overdue obligations.

√ The total number of overdue days during the last year must not exceed 30.

√ At least one guarantor must either be a real estate owner or have registered employment income.

For POS terminal-based loans provided by “Fast Bank” CJSC and/or other banks in RA, the maximum loan amount is up to six times the average monthly turnover over the past 6 months.

However:

If more than 50% of the last 6 months’ turnover occurred during the two weeks preceding the loan application, that portion is excluded from the turnover calculation, and the maximum loan amount cannot exceed 100% of the average monthly turnover over the past 6 months according to tax reporting.

After the loan is disbursed, the borrower is required, on a quarterly basis, to ensure that the average monthly turnover on the bank account opened with the Bank meets the loan-to-collateral ratio established at the time of the loan disbursement. Failure to comply may result in the Bank raising the loan interest rate by 3 percentage points or demanding full or partial early repayment of the loan. In the case of a credit line, the Bank may require full or partial reduction of the credit line limit.

The Bank also reserves the right to apply these measures if the volume of chargebacks processed through the POS terminal exceeds 5% of the turnover generated via the POS terminal on an average monthly basis.