YEREVAN, December 1. /ARKA/. VTB (Armenia) has unveiled today a special project it has designed for entrepreneurs who can apply for loans in US dollars and euros with interest rates of 8.5% and 6.5% respectively.
The bank said small businesses operating in wholesale and retail trade, manufacturing, construction, services and other industries can apply. The borrowed funds can be channeled into investment projects, purchase of goods and raw materials, repayment of debts to contractors.
To replenish working capital, the bank’s clients can get a revolving credit line within a predetermined limit and term.
The interest rate is 6.5% for loans in euros and 8.5% for loans in U.S. dollars (effective interest rate is 7.1% and 9.3% respectively).
The credit line can be opened for the amount from AMD 4,550,000 to 65,000,000 (equivalent in EUR and USD at the effective exchange rate of the Central Bank on the date of issue) for a period of 1 to 60 months. The revolving credit line is available for up to 36 months.
“Supporting entrepreneurs is a strategic priority for VTB (Armenia). We offer the market a set of financial products, designed based on a comprehensive analysis of customer needs. Our loan portfolio of small businesses has now reached 7.9 billion drams. Given the growing demand for additional funds in foreign currency from entrepreneurs, especially those engaged in import and export operations, we believe that the new product will be in demand in the market. The credit on comfortable terms allows small businesses to effectively solve problems at various stages of their development,” said VTB (Armenia) Corporate Business Development Director Ara Aravagyan.
Detailed information about the credit product is available at the official website of VTB Bank (Armenia) at https://www.vtb.am/ru/business/business-credits-view/kredit-v-invaliute, at the bank’s branches or by calling 87-87. One can also apply for a loan on the website of the bank and in its branches.
The activity of VTB (Armenia) CJSC is regulated by the Central Bank of Armenia ($1 – 487.98 AMD). -0-
