faq
EvocaONLINE
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Loans to legal entities

Simple business loan (with simplified assessment)

Currency

AMD, USD, EUR

Borrowers

RA resident legal entities and individual entrepreneurs who are running registered activity for at least 6 months 

Limits

Up to AMD 15.000.000 or equivalent in foreign currency

Usage method of the granted loan

Non-cash

Repayment period

6-60 months (without early payment penalty)

Annual interest rate

AMD

14,5%

USD

9,5%

EUR

7,5%

Penalty for loan principal and/or interest overdue
  • For overdue principal - 0,015 % daily
  • For overdue interest - 0.1% daily

Loan repayment security measure
  • Immovable property located I Yerevan, Vanadzor, Gyumri and Abovyan cities; apartment, plot (except for production areas)
  • In addition to property pledge, at least one guanartee provided by a physical individual or legal entity might be required

Loan to value ratio
  • If the pledged property is located in Yerevan – up to 65% of the property value
  • If the pledged property is located in Gyumri, Vanadzor, Abovyan – up to 55% of the property value

Fees
  • Loan account service fee – 1% of the loan amount , but not less than AMD 20,000 , maximum AMD 100,000
  • In case if the loan amount is received in cash, a cash withdrawal fee is charged from the bank account according to the current tariffs.

Limitations
  • Borrower’s total number of overdue days for the last 12 months should not exceed 30 days,
  • For the previous 24 months the borrower should not have loans with any classification.
  • On the day of application request the borrower-applicant should not have classified guarantee, as well as overdue credit facilities.

Warning:

  • If you do not pay the interest and loan amount on time, the mortgaged property may be SEIZED in accordance with the law, and your information will be recorded in the Credit Register (which may subsequently prevent you from receiving new loans).
  • In the case of repayment of obligations on the account of collateral as a result of non-fulfillment of credit obligations, if the value of the collateral is not sufficient to cover the credit obligations of the borrower, then we (according to the current legislation) have the opportunity to repay the loan obligations on account of your other property (if any).