YEREVAN, September 7. /ARKA/. Converse Bank said today it is displaying a number of attractive products at Armenia EXPO, such as BRIDGE loans, export loans and pre-export finance, Converse Trade and government-subsidized agricultural loans.
“Converse Bank prioritizes the accessibility of credits to small and medium businesses and continuously improves the SME financing by offering advantageous terms. Due to competitive and affordable offers the SME loan portfolio of Converse Bank has grown by 45.7% in the past year,” Converse Bank Corporate Business Director Rostom Badalyan said.
With regard to the offers displayed at Armenian EXPO, Mr. Badalyan stated that the BRIDGE loan is issued to small and medium businesses in AMD, USD and EUR with up to 12-month maturity, and the annual interest rates starting from 10%, 6.5% and 5% for AMD, USD and EUR loans respectively.
The export and pre-export financing is provided for up to 12-month period at annual interest rate starting from 4% for EUR and 6% for USD, the bank said.
“The government-subsidized agro lending is among the mostly demanded facilities of Converse Bank. Within the scope of this particular program, the Bank issues loans starting at 2% annual interest rate intended for establishment of intensive modern orchards, implementation of agro-food processing development projects in communities, financial lease of agro-food processing equipment and procurement of agricultural raw materials,” Converse Bank Corporate Business Director said and added that under the aforementioned program the existing and new customers of the Bank can receive loans to the amount of AMD 10M and 7-year maturity at most.
Rostom Badalyan mentioned that the visitors of Armenia EXPO can seek advice on the products offered by the Bank at the pavilion of Converse Bank.
Converse Bank CJSC was registered on December 20, 1993. The bank’s shareholders now are the Advanced Global Investments LLC (Argentina) with a share of 80.94%, the Armenian Apostolic Church ( 5%) and the HayPost Trust Management B.V. Company (14.06%). -0-
