PROGRAM LOANS. 1. MCA Armenia Water-to-Market Program

Transcription

1 PROGRAM LOANS 1. MCA Armenia Water-to-Market Program Term of the loan Annual interest rate 10% Loan currency Commission Fine imposed for early repayment Other expenses of Customer Purpose of loan 2 to 7 years Armenian drams 1. Commitment fee for loan application review AMD Commitment fee for loan maintenance For loans up to Armenian drams - AMD For loans from to Armenian drams - AMD For loans from to Armenian drams - AMD For loans from to Armenian drams - AMD Encashing loan funds 0,3% of loan N/A 1. Costs related with the assessment of collateral 2. Costs related with the notary and cadastral registration Economic development of rural areas Regional limitation List of required documents /individuals/ All regions of RA, except Yerevan Customer identity Original passport and copy thereof Social Card Marriage certificate, if any, Certificate(s) of birth of the child(ren), if there are any, Copies of passports, Social cards, birth certificates of family members Business program Certificate Reference from rural community authority on tax arrears for land Reference from Water Consumers Union on payments for water irrigation Information on income Reference on income from primary employer, if any Copy of the work record--book, if any Copy of labor contract (if such is available). Other documents, substantiating revenues, related with sales of products, receipts, if any,

2 List of required documents /legal entities/ Credit history and relations with other financial-credit organizations Information on all existing accounts (of any kind) and the movement thereof (average monthly balance, average monthly receipts and expenses), In case of on-demand and term deposit accounts with banks, reference on the movement and balance thereof for the last 6 months, Detailed information on all credit transactions carried out over the past 3 years, including credit and collateral agreements, statement of account. The originals or copies of documents related to the pledged property Certificate of title on mortgage issued by the State Cadastre Committee, Document (basis), confirming the acquisition of property rights, Technical passport for the movable property, Documents certifying the availability of agricultural equipment, machinery and other movables, Certificate of ownership on the land of agricultural purpose and reference on the cadastral value thereof Photos related to the expanded business Assessment deed, Other additional documents, as such may be required by the Bank. Customer identity Original passport and copy thereof (for the director and accountant) Social security card (for the director and accountant) Copies of passports, Social cards and birth certificates of family members Business program Forecast of cash flows Reference from rural community authority on tax arrears for land Reference from Water Consumers Union on payments for water irrigation Information on income Certificate of registration of TIN, Certificate of state registration of the legal entity, Permissive documents to expand given type of activity, Financial reports for the last 2 accounting periods approved by taxation authorities, Company By-laws, Reference on changes in authorized capital, Reference that the legal entity is not insolvent, Reference that the legal entity has no tax liabilities Credit history and relations with other financial-credit organizations

3 Information on all existing accounts (of any kind) and the movement thereof (average monthly balance, average monthly receipts and expenses), Reference from state register, depositary on the participation share in authorized capital of legal entities, In case of on-demand and term deposit accounts with banks, reference on the movement and balance thereof for the last 6 months, Detailed information on all credit transactions carried out over the past 3 years, including credit and collateral agreements, statements of account. In the event of other liabilities, agreements and statements of account should be submitted to the Bank The originals or counterparts of documents related to the pledged property Certificate of title on mortgage issued by the State Cadastre Committee, Document (basis), confirming the acquisition of property rights, Certificate of ownership on the land of agricultural purpose and reference on the cadastral value thereof Documents certifying the availability of agricultural equipment, machinery and other movables, Photos related to the expanded business Assessment deed, Reference from the State Cadastre Committee that the property has not been pledged or is not under an arrest of any type (Joint reference in the event of a favorable loan decision), Documents certifying the availability of agricultural equipment, machinery and other movables, Other additional documents, as such may be required by the Bank. Maximum loan Guarantee for the fulfillment of loan liabilities Depending on Customer's creditworthiness, but should not exceed: 1. For mortgaged immovable property - 50 % of the value of the collateral 2. For mortgaged movable property - 40% of the value of the collateral From to Armenian drams Movable and immovable property, PP&E, finished products, goods, funds in circulation, etc. Term of loan application review The order of calculating the interest rate 15 business days Annual interest rate is charged on the balance of principal

4 The order for the repayment of credit The order for the repayment of accrued interests Grace period for the repayment of loan As per contract Monthly payments From 1to 18 months Interest on overdue credit Extension of loan Conditions required for credit arrangement The settlement interest rate of the Central Bank of RA in twofold and a penalty of 0.1% per day The loan is transferred to Customer's bank account Availability of a collateral Sufficient credit solvency Availability of necessary documents 2. The AUA Development of Trpanjyan rural communities project Term of the loan Annual interest rate 6% Loan currency Commission Fine imposed for early repayment Other expenses of Customer Purpose of loan Up to 5 years Armenian drams N/A N/A N/A Development of remote regions of RA Regional limitation List of required documents /individuals/ Tavush and Shirak regions of RA, Republic of Nagorno- Karabakh, Javakhq region Customer identity Original passport and copy thereof Social Card Marriage certificate, if any, Certificate(s) of birth of the child(ren), if any, Copies of passports, Social cards, birth certificates of family members Business program Information on income Reference on income from primary employer, if any Copy of the work record-book, if any

5 Copy of labour contract (if such is available). Other documents, substantiating revenues, Credit history and relations with other financial-credit organizations Information on all existing accounts (of any kind) and the movement thereon (average monthly balance, average monthly receipts and expenses), In case of on-demand and term deposit accounts with banks, reference on the movement and balance thereof for the last 6 months, Detailed information on all credit transactions carried out over the past 3 years, including credit and collateral agreements, statement of account. Other additional documents as required by the Bank List of required documents /legal entities/ Customer identity Original passport and copy thereof (for the manager and accountant) Social security card (for the manager and accountant) Copies of passports, Social cards and birth certificates of family members Business program Information on income Certificate of registration of TIN, Certificate of state registration of the legal entity, Permissive documents to expand given type of activity, Financial reports for the last 2 accounting periods approved by taxation authorities, By-laws, Reference on changes in authorized capital, Reference that the legal entity is not insolvent, Reference that the legal entity has no tax liabilities Credit history and relations with other financial-credit organizations Information on all existing accounts (of any kind) and the movement thereon (average monthly balance, average monthly receipts and expenses), Reference from state register, depositary on the participation share in authorized capital of legal entities, In case of on-demand and term deposit accounts with banks, reference on the movement and balance thereof for the last 6 months, Detailed information on all credit transactions carried out over the past 3 years, including credit and collateral agreements, In the event of other liabilities, agreements and statement of account should be submitted to the Bank Other additional documents, as such may be required by the Bank.

6 Maximum loan Depending on Customer's creditworthiness, and AMD maximum Guarantee for the fulfillment of loan liabilities Guarantee of the American University of Armenia Fund Term of loan application review The order of calculating the interest rate The order for the repayment of credit 5 business days Annual interest rate is charged on the balance As per contract of principal The order of the repayment of accrued interests Monthly payments Grace period for the repayment of loan As per business program Interest on overdue credit Extension of loan Conditions required for credit arrangement The settlement interest rate of the Central Bank of RA in twofold and a penalty of 0.1% per day The loan is transferred to Customer's bank account Surety of the American University of Armenia Fund Sufficient credit solvency Availability of necessary documents

7 3. Provision of credit guarantees to SMEs program by NCD for SME development Fund Armenia Term of the loan Annual interest rate 15% Loan currency Commission 1 to 5 years Armenian drams 1. Commitment fee for application review AMD Commitment fee for loan maintenance 0.1% of the loan (AMD min, AMD max) 3. Encashing loan funds 0,3% of the loan Fine imposed for early repayment Other expenses of Customer N/A 1. Costs associated with the assessment of collateral 2. Costs associated with the notary and cadastral registration 3. For vehicles pledge with mandatory insurance, on yearly basis according to fee schedule stipulated by companies cooperating with the Bank. Purpose of loan Regional limitation Uniform expansion of entrepreneurial activity in RA All marzes of RA, except Yerevan List of required documents 1. Documents required for the analysis of the legal status and financial stand Protocol of resolution of the general meeting of participants or shareholders, Constituent instrument (by-laws) with all subsequent amendments and additions, Certificate of registration in the State Register (with loose leaf, including those for management body), Certificate from the State Register of amendments to the statutes and the sharers, Аn abstract from the register issued by the Central Depository for OJSC and CJSC 1, License required to expand business in the given field, Registration documents, TIN, etc, Information on managers (passport details, social security card, the order / decision on the appointment / selection), Financial Statements for the last 2 periods approved by the State Revenues Committee, the deed of last inspection by the 1 To be submitted upon a favorable decision on the loan extension

8 Maximum of credit liability State Revenues Committee, Opinion of auditing company (if any), Information on debt (on taxes, social insurance agencies, from servicing banks, etc.), Business program or feasibility studies, Existing contracts and agreements (on implementation, delivery, rent, etc.), Invoices, deeds, payment orders or formal requests, etc., List of receivables and payables, which must include the name,, date of formation and repayment, In case of accounts held with other banks, statements on the turnover of bank accounts for the last 12 months; 2. Documents related to loan coverage Decision of the competent authority on mortgaged property (in case of a corporate mortgagor), List of property, indicating the measure unit, quantity, book value, estimated value and the basis of acquisition, In case of immovable property collateral - certificate and basis of ownership; in case of pledged vehicles - technical passport, Evaluation report provided by licensed evaluators collaborating with the Bank, Certificate from the district office of State unified cadastre of real estate of RA Government on restrictions to the pledged assets (real property, vehicles, equipment) 2, In case of vehicles certificate from State Motor Vehicle Inspectorate on the arrest or prohibition imposed thereon, Other additional documents, as such may be required by the Bank. Depending on Customer's creditworthiness, but should not exceed: sum total of 40% of the value of the pledge and guarantee (maximum of guarantee - 70% of credit liability /sum total of the principal and interest s charged for the whole term of credit/), but not in excess of AMD ), and AMD Guarantee for the fulfillment of loan liabilities Movable and immovable property, PP&E, finished products, goods in circulation, etc. Term of loan application review 15 business days The order of calculating the Annual interest rate is charged on the balance of principal 2 To be submitted upon a favorable decision on the loan extension.

9 interest rate The order for the repayment of credit The order of the repayment of accrued interests As per contract Monthly payments Interest on overdue credit Extension of loan Conditions required for credit arrangement The settlement interest rate of the Central Bank of RA in twofold and a penalty of 0.1% per day The loan is transferred to Customer's bank account 1. Surety of NCD for SME development Armenia 2. Availability of а pledge 3. Sufficient credit solvency 4. Availability of necessary documents 4.1. Lending to SME business program on account of target credit facilities funds extended by Artsakh Investment Fund Term of the loan Annual interest rate 8% Loan currency Commission Fine imposed for early repayment Up to 6 years Armenian drams 1. Commitment fee for loan application review AMD Commitment fee for loan maintenance 0.1% от суммы кредита (AMD min. and AMD max) 2. Encashing loan funds 0,3%. от суммы кредита N/A Other expenses of Customer 1. Costs associated with the assessment of collateral 2. Costs associated with the notary and cadastral registration Purpose of loan Expansion of SME business in Nagorno-Karabakh Regional limitation List of required documents Republic of Nagorno-Karabakh Customer identity Original passport and copy thereof (for the manager and accountant) Social security card (for the manager and accountant) Copies of passports, Social cards and birth certificates of family members

10 Business program Forecast of cash flows Information on income Certificate of registration of TIN, Certificate of state registration of the legal entity, Permissive documents to expand given type of activity, Financial reports for the last 2 accounting periods approved by taxation authorities, By-laws, Reference on changes in authorized capital, Reference that the legal entity is not insolvent, Reference that the legal entity has no tax liabilities Credit history and relations with other financial-credit organizations Information on all existing accounts (of any kind) and the movement thereon (average monthly balance, average monthly receipts and expenses), Reference from state register, depositary on the participation share in authorized capital of legal entities, In case of on-demand and term deposit accounts with banks, reference on the movement and balance thereof for the last 6 months, Detailed information on all credit transactions carried out over the past 3 years, including credit and collateral agreements, In the event of other liabilities, agreements and statement of account should be submitted to the Bank The originals or counterparts of documents related to the pledged property Certificate of title on mortgage issued by the State Cadastre Committee, Document (basis), confirming the acquisition of property rights, Certificate of ownership on the land of agricultural purpose and reference on the cadastral value thereof Photos related to the expanded business Assessment deed Reference from the State Cadastre Committee that the property has not been pledged or is not under an arrest of any type (Joint reference on a favorable loan decision), Documents certifying the availability of agricultural equipment, machinery and other movables, Other additional documents, as such may be required by the Bank. Maximum of credit liability Depending on Customer's creditworthiness, but should not exceed: 60% of the value of the collateral - for real property pledge,

11 50% of the value of the collateral - for movables pledge 40% of the value of the collateral - for working capital pledge Guarantee for the fulfillment of loan liabilities Maximum limit of the credit extended to one borrower by by spheres of activity Term of loan application review Movable and immovable property, PP&E, finished products, goods in circulation, etc. Wine-making - AMD Other branches of industry - AMD Consumer services - AMD Business promotion services - AMD Hotel services - AMD Other services - AMD wine-growing - AMD Other branches of agriculture - AMD business days The order of calculating the interest rate The order for the repayment of credit Annual interest rate is charged on the balance According to the contract of principal The order of the repayment of accrued interests Monthly payments Grace period for the repayment of loan As per business program Interest on overdue credit Extension of loan Conditions required for credit arrangement The settlement interest rate of the Central Bank of RA in twofold and a penalty of 0.1% per day The loan is transferred to Customer's bank account Availability of a collateral Sufficient credit solvency Availability of necessary documents

12 4.2. Program for credit facilities extended within Partial subsidy of interest rates for commercial loans to SMEs Artsakh Investment Fund project Term of the loan Up to 5 years Annual interest rate max. 18% Loan currency Commission Armenian drams 1. Commitment fee for loan application review AMD Commitment fee for loan maintenance 0.1% of the loan (AMD min. and AMD max) 3. Encahing loan funds 0.3% of the loan Fine imposed for early repayment N/A Other expenses of Customer 1. Costs associated with the assessment of collateral 2. Costs associated with the notary and cadastral registration Purpose of loan Regional limitation Expansion of SME business in Nagorno-Karabakh Republic of Nagorno-Karabakh List of required documents Customer identity Original passport and copy thereof (for the manager and accountant) Social security card (for the manager and accountant) Copies of passports, Social cards and birth certificates of family members Business program Forecast of cash flows Information on income Certificate of registration of TIN, Certificate of state registration of the legal entity, Permissive documents to expand given type of activity, Financial reports for the last 2 accounting periods approved by taxation authorities, By-laws, Reference on changes in authorized capital, Reference that the legal entity is not insolvent, Reference that the legal entity has no tax liabilities Credit history and relations with other financial-credit organizations Information on all existing accounts (of any kind) and the

13 movement thereon (average monthly balance, average monthly receipts and expenses), Reference from state register, depositary on the participation share in authorized capital of legal entities, In case of on-demand and term deposit accounts with banks, reference on the movement and balance thereof for the last 6 months, Detailed information on all credit transactions carried out over the past 3 years, including credit and collateral agreements, In the event of other liabilities, agreements and statement of account should be submitted to the Bank The originals or counterparts of documents related to the pledged property Certificate of title on mortgage issued by the State Cadastre Committee, Document (basis), confirming the acquisition of property rights, Certificate of ownership on the land of agricultural purpose and reference on the cadastral value thereof Photos related to the expanded business Assessment deed Reference from the State Cadastre Committee that the property has not been pledged or is not under an arrest of any type (Joint reference on a favorable loan decision), Documents certifying the availability of agricultural equipment, machinery and other movables, Other additional documents, as such may be required by the Bank. Maximum of credit liability Depending on Customer's creditworthiness, but should not exceed: 60% of the value of the collateral - for real property pledge, 50% of the value of the collateral - for movables pledge 40% of the value of the collateral - for working capital pledge Guarantee for the fulfillment of loan liabilities Movable and immovable property, PP&E, finished products, goods in circulation, etc. Term of loan application review The order of calculating the interest rate The order for the repayment of credit Annual interest rate is charged on the balance According to the contract of principal The order of the repayment of Monthly payments

14 accrued interests Grace period for the repayment of loan As per business program Interest on overdue credit Extension of loan Conditions required for credit arrangement The settlement interest rate of the Central Bank of RA in twofold and a penalty of 0.1% per day The loan is transferred to Customer's bank account Availability of a collateral Sufficient credit solvency Availability of necessary documents

15 4.3. Program for State Financial Assistance to definite groups of citizens of the Republic of Nagorno-Karabakh for mortgage lending purposes by Artsakh Investment Fund Term of the loan Loans for real estate acquisition and development - up to 15 years Real estate repairing loans - up to 5 years Annual interest rate 1. For real estate acquisition and development - 12% 2. For repairing loans - 15% Minimum prepayment rate Zone 1-20% Loan currency Commission Zone 2-30% Armenian drams 1. Commitment fee for loan application review AMD Commitment fee for loan maintenance For loans of AMD and less AMD ) For loans of AMD to AMD AMD For loans of AMD to AMD AMD Encashing loan funds 0,3% of the loan Fine imposed for early repayment N/A Other expenses of Customer 1. Costs associated with the assessment of collateral 2. Costs associated with the notary and cadastral registration Purpose of loan List of required documents Acquisition and (or) repairing and (or) development of real estate Customer identity Original passport and copy thereof Social Card Marriage certificate, if any, Certificate(s) of birth of the child(ren), if any, Official reference on the number of persons residing with and under tutelage of Customer, Information on income For an employed customer: Reference on income from primary employer, describing in detail and verifying the actual of income paid during the past 12 months,

16 Information on employment (current position, record of service in the organization) and data on previous employment (employer, position held, length of service in each organization), Proof of subsidiary income, which should be taken into account, Reference on income of spouse, (if the Customer is married), Information on employment of co-borrowers (if any), Copy of work-record book, Copy of labour contract (if such is available). For a self-employed Customer: Certificate of registration of taxpayer s registration number (TIN), Certificate of state registration of a sole entrepreneur, Permission documents for given type of activity, Financial statements for the last year, approved by tax authorities, Reports (records) on revenues and expenditures for the last 6 months, Tax records for the past year. Credit History Detailed information on all credit transactions carried out over the past 3 years, including credit and collateral agreements. Records of payment for public utilities for the last 12 months. Current relations with other financial-credit organizations Information on all existing accounts (of any kind) and the movement thereon (average monthly balance, average monthly receipts and expenses), Reference from state register, depositary on the participation share in authorized capital of legal entities, In case of on-demand and term deposit accounts with banks, reference on the movement and balance thereof for the last 6 months, The originals or counterparts of documents related to the pledged property Certificate of title issued by the State Cadastre Committee, Reference from the State Cadastre Committee that the property has not been pledged or is not under an arrest of any type (Joint reference), Document (basis), confirming the acquisition of property rights, Copy of the passport and Social Security card, of marriage certificate of the seller (of spouse, if any), Other additional documents, as such may be required by the Bank.

17 Maximum loan Depending on Customer's creditworthiness and not exceeding: 80% of the apartment value located in zone 1, 50% of the value of the collateral - for pledging movable property, 40% of the value of the collateral - for working capital pledge In the event of purpose loans for vehicle acquisition max. 70% of the vehicle value Term of loan application review The order of calculating the interest rate 1. for real estate acquisition and development 80% of the apartment value located in zone 1 and 70% of the apartment value located in zone 2, zone 1- up to AMD and zone 2 - up to AMD for real estate repairing -70% of the apartment value, but not exceeding AMD business days Annual interest rate is charged on the balance of principal (annuity schedule) Penalty on overdue interest s Interest on overdue credit 0.5% per day The settlement interest rate of the Central Bank of RA in twofold and a penalty of 0.2% per day