YEREVAN, November 27. /ARKA/. VTB Bank (Armenia) has lowered interest rates on loans for small businesses to 3% per annum for the first 90 days.
The terms are available through the ”New Partner” and ”Express” programs for retail, manufacturing, and service businesses. Financing can be used for ongoing operations, loan repayments, and investment projects.
Small businesses with a good credit history and an existing loan from another bank can apply for the ”New Partner” loan. The interest rate is 3% for the first 90 days, then rises to 18% (effective rate: 17.25%). The maximum loan amount is 5 million drams, with a term of 48 months.
The ‘‘Express” loan is available with or without collateral, or with partial security, for a term ranging from 12 to 60 months and amounts from 500,000 to 20 million drams. The interest rate after the grace period will range from 10% to 17% per annum (effective rate: from 15.05% to 20.07%), depending on the loan amount and collateral.
“At the end of the year, business activity in many sectors increases, and we have prepared a special offer for entrepreneurs who need funds to replenish working capital, repay loans, or implement investment projects. It is important for us to be of service to our clients and provide them with the necessary financial tools and solutions for further business growth,” commented Evgeny Motovilov, Deputy CEO and Chairman of the Directorate of VTB (Armenia).
You can find more details about the loan terms and apply for them on the bank’s website or at any branch across the country.
The activities of VTB Bank (Armenia) CJSC are regulated by the Central Bank of Armenia.
