Loans to legal entities

Factoring financing

1.	Minimum and maximum amount of financing	AMD 5,000,000 – AMD 250,000,000 or foreign currency equivalent Under the cooperation agreement with Export Insurance Agency of Armenia ICJSC - up to AMD 480,000,000 or foreign currency equivalent
2.	Eligibility	RA resident – legal entities and sole proprietors whose registered lifespan is not less than 12 months.
3.	Effective factoring timeframe	Up to 24 months
4.	Financing period	Up to 120 days, Under the cooperation agreement with Export Insurance Agency of Armenia ICJSC - up to 250 days,
5.	Amount to be financed	Up to 90% of the invoice
6.	Annual interest rate by type of currency	AMD	Started at 12%
		USD	Started at 8%
		Euro	Started at 6%
		RUB	Started at 12%
7.	Penalty charged for late payment of principal and interest	For past due principal amount - 0.015% per day, For past due interest - 0.1% per day.
8.	Penalty for early repayment	Not applicable
9.	Fee for approval of the limit	0.20% of the limit, but minimum is set to equal amount AMD 10,000 and maximum amount AMD 200,000
10.	Increasing the approved limit	0.20% of the increased amount but not more than AMD 10,000
11.	Commission fee	0.5-3%, min AMD 10,000
12.	Re-approval of limit	AMD 10,000
13.	Application review fee	AMD 10,000
14.	Security	Sureties of the customer/debtors, as may be required. In individual cases when transactions are risky, additional collateral may be required.