Macro Business Loan

For business, fixed and working capital financing.
The borrower must act on his own behalf and for his own benefit when receiving the loan funds.

It is forbidden to take a loan in favor of a third party.

 Citizens of the Republic of Armenia, legal entities registered in the Republic of Armenia or individual entrepreneurs who receive stable income from their business activities (with at least 6 months of registration and carrying out activities). The borrower must act on his own behalf and for his own benefit when receiving the loan funds. It is forbidden to take a loan in favor of a third party. 

5.000.001-15.000.000 AMD 

 16.5% 

30.8-34.6 %

12-60 months 

 21-65 years old 

 2% of the loan amount 

0.8 % of the balance of the loan amount /monthly/ 

 15.000 AMD 

Cashless 

 Up to 4 months grace period available every 12 months 

A total of 3 parallel loans, the sum of all loans up to AMD 15.000.000 

Three movable and/or real estate and/or vehicle and/or working capital pledges.
Age of guarantors: 21-65 years.
In any case, at least one of the guarantors must be a member of the borrower's family, a Joint Guarantor.
In case of absence, the joint guarantor can be replaced by an external guarantor, a subsidiary guarantor.
The minimum requirements for the subsidiary guarantor are: stable income (salary and/or income account statement and/or business and/or liquid property and/or vehicle and/or real estate) comparable to the loan amount, etc. Each guarantor can be replaced by securing at least 50% of the loan amount with real estate (liquid value) and/or vehicle collateral (liquid value). In the presence of participation (shareholding) of other persons in the client's entrepreneurial (business) activity, regardless of the amount of the loan, the guarantee of the given participant is a mandatory condition for securing the loan.
If necessary, additional guarantors and/or collateral may be requested by the credit committee as a type of additional security.

 1. In case of fulfillment of obligations defined by the Agreement, including full or partial repayment of the Loan, the Borrower shall pay a penalty in the amount of 2% (two) percent of the amount repaid before the due date, as a partial compensation of the expected income not received by the Lender. 
2. In the event that the loan is repaid early, only the interest amounts to be repaid in the following month(s) of the loan are proportionally reduced in accordance with the overpaid loan amount. 
3. In case of full early repayment of the loan, the Borrower pays the service and other fees, interest and the loan calculated as of the payment date. 
4. In the case of partial early repayment of the loan, the entire amount to be repaid, defined by the Borrower's Repayment Schedule, is charged from the paid amount, and in the event that the paid amount is more than the amount to be repaid in the future, then that excess part is directed to repayment of the loan, except for Clause 6 of the Agreement of the intended event. In that case, the further payable interest amounts defined by the Loan Repayment Schedule are calculated against the remaining amount of the loan and the interest amounts payable for the following month/months of the loan are reduced in accordance with the overpaid loan amount. In this case, the Borrower is informed that as a result of early repayment, the schedule of further repayments has been changed and that the Borrower can contact the Lender after one working day to receive a schedule with new repayments, as well as to inquire about the next repayment. If the Borrower chooses the method of receiving the new schedule by mail, the Lender provides (sends) it to the Borrower within 3-5 working days. In this case, the new repayment schedule can be provided (sent) to the Borrower only in the form signed and stamped by the appropriate employee of the Lender, without the Borrower's signature. 
5. If the paid amount is insufficient to repay the entire amount on the upcoming repayment date set by the Borrower's Repayment Schedule, the service and other fees are repaid first, then the interest, and then the loan. 
6. The borrower has the right to pay the amounts of the subsequent months provided for in the Repayment Schedule, demanding that in this case the service and other fees of the following months are paid first, then the interest calculated as of the payment date, and then the interest of the following months calculated on the remaining amount of the loan, and at the end, the amount of the loan for the following months, or specifying a different sequence of repayments. In the event of not submitting such a claim, the rule set forth in Clause 4 of the Agreement applies. 
7. In the event that the Borrower makes repayments for subsequent months in accordance with Clause 6 of the Agreement, he is exempted from making payments in the amount of those repayments on the days specified in the Repayment Schedule. 

In case of non-fulfillment and/or partial fulfillment of obligations by the borrower within the terms set by the repayment schedule, the borrower is obliged to pay damages to the lender:
· For each overdue day, 0.13% per day of the overdue (unpaid) loan amount, for a maximum of 90 days, after which, starting from the 91st day, the penalties are suspended until a court case is initiated.

· Starting from the day following the submission of the case to the court, the accrual of the daily fine continues up to 270 days, after which it is stopped.

· For each overdue day, a penalty of 0.13% is accrued daily on the overdue (unpaid) interest, for a maximum of 90 days, after which the penalties are suspended starting from the 91st day.

· Starting from the day following the submission of the case to the court, the accrual of the daily penalty continues up to 270 days, after which it is stopped.

· In case the borrower violates the payment terms of the loan amount specified in the repayment schedule of the credit agreement (overdue) the calculation of the annual interest rate of the loan provided for in the agreement for the overdue part stops and for the overdue amount to be paid, it starts from the day of the overdue until the day of actual repayment of the overdue part to be paid. interest was calculated at the rate of 24 percent (twenty-four percent) per annum.

· In the conditions of judicial or extrajudicial proceedings, the accrual of interest on the loan continues until the end of the contract, after which the accrual of interest continues at the amount of the Bank interest of the Central Bank of Armenia as of the date of granting the loan.

· In case of overdue loan and interest obligations by the borrower and insufficiency of the paid amounts, the obligations are repaid in the following order: first of all, the lender's expenses aimed at obtaining the fulfillment of the obligation are repaid, then service fees, accrued damages, interest and the principal amount of the loan.

1 In the case of a natural person
* Customer's passport/identification card and social. card

* Guarantors' passports/identification cards and social. Card, security documents

* Other documents (at the request of the Credit Committee)

  2 In the case of a legal entity

* State Register Certificate tab

*Statute

* Tax code: АХВХ

* Passports/identification card of the director, shareholders

* Financial statements for the last reporting period

* Decision of the authorized body on applying for a loan and (providing the company's property as collateral),

* Guarantors' passports/identification cards and social. card, income/property/ documents,

*Other documents (at the request of the Credit Committee)

3 In the case of an individual entrepreneur

* Certificate of State Register

* Passport/identification card of individual entrepreneur and guarantor

* Marriage certificate /if available/

* Other documents (at the request of the Credit Committee).

 The organization makes a decision on the loan application in a maximum of 2 working days.
and the loan is actually provided to the borrower in a maximum of 2 working days after the loan is approved. 

* Availability of classified obligations (loans, guarantees) at the time of applying for a loan
* Insufficient level of creditworthiness,
* Absence of collateral and/or guarantee
* Negative credit history
* Insufficient income
* Other risks 

* Availability of positive credit history
* Absence of classified obligations (loans, guarantees) at the time of applying for a loan
* Sufficient level of creditworthiness
* Availability of collateral and/or guarantee
* Availability of property
* Adequate income
* Activity transparency

· The nominal interest rate of this loan can be changed by "Arfin" UVC LLC.
  The lender has the right to unilaterally change the loan interest rate in the event of the borrower's breach of the contractual obligations (according to the schedule).
           Your property can be confiscated in accordance with the law if you do not pay interest and loan amounts on time.
· In case of non-fulfillment or improper fulfillment of credit obligations, the mortgagor shall notify the mortgagors in writing about the confiscation of the subject of pledge without going to court. After two months from the moment of delivery of the notice, by virtue of Article 249 of the Civil Code of the RA and observing the rules of the right of preference to buy, the pledgee has the right to sell the subject of the pledge on behalf of the pledgor and at his expense, or to sell it through commodity exchanges or in exchange for the corresponding amount of the loan obligation to the company, or the company. by transferring ownership to the said person. If the collateral is not sufficient to cover the borrower's credit obligations in case of repayment of the obligations on the account of the collateral, confiscation shall be extended to the borrower's other property.
· In case of non-fulfilment or improper fulfillment of credit obligations, the creditor after 3 working days directs these data to the credit register or ACRA credit bureau, where your credit history is verified. You have the right to obtain your credit history from the ACRA credit bureau once a year, free of charge.

ATTENTION: a bad credit history can prevent you from getting a loan in the future.

Loans are formalized in the office of <Arfin> credit union LLC.

 Loan amount: 1,500,000 AMD Annual nominal interest rate of the loan: 24%
Accept the number of days in a month as 30 days, accept a year as 365 days

The interest is calculated: (1.500.000 X 24%)/ 365 X30 = 29589.00 AMD 

· LOAN INTEREST RATES ARE CALCULATED BASED ON THE NOMINAL INTEREST RATE. AND THE ACTUAL ANNUAL INTEREST RATE SHOWS HOW MUCH THE LOAN WILL COST YOU IN THE CASE OF MAKING THE INTEREST AND OTHER PAYMENTS WITHIN THE DEFINED PERIODS AND MEASURES. YOU CAN FIND THE PROCEDURE FOR CALCULATING THE ANNUAL FACTUAL INTEREST RATE APPROVED BY THE RA CB COUNCIL ON 8/01.

· The borrower can unilaterally terminate the loan agreement, but within seven working days following its conclusion/thinking time/in case of termination, he pays interest for using the loan amount in accordance with the actual annual interest rate.
 
   <<Your financial directory>>: www.fininfo.am is an electronic system that facilitates the search, comparison of services offered to individuals and the selection of an effective option for you.

· Before signing the loan agreement, the company provides an INDIVIDUAL NEWSLETTER in accordance with Regulation 8/05 approved by the Council of the Central Bank of the Republic of Armenia.

· You can also get information about real estate mortgage loans from the Financial Assistant system of the Finance for All website www.abcfinance.am.