ARMBUSINESSBANK finances energy-efficient business

  • Business - 16 December 2016, 14:44
Dear customers and partners,

ARMBUSINESSBANK, stressing the importance of the effective organization of economic activity of its clients, implements a new type of credit. Within the framework of "Energy Efficiency for MSMEs" program ARMBUSINESSBANK in cooperation with the German bank of KfW offers "ABB-Energy Efficient Business" loan product to RA resident legal entities and entrepreneurs in the form of a loan or revolving credit line.

The purpose of this product is to expand the possibilities for legal entities and sole  entrepreneurs by improving the efficiency of business, namely:

- reduce energy consumption cost per unit of product and business in general,

- get competitive advantage,

- add production capacity,

- improve the quality of services and products,

- improve the comfort of work for employees and etc.

This credit program is designed for heating, ventilation, lighting, cooling, insulation of buildings, acquisition of equipment for the food industry and  other sectors of economy,  renewal of automobile park, for several other purposes.

The amount of financing is set as follows: for mortgaged real estate - up to 60% of the liquidation value, for a pledged movable property - up to 50%, for pledged circulating assets - up to 40%.

Energy efficient loan is provided only in drams, for a maturity of 1-5 years, minimum loan amount - AMD 1,000,000.

The advantage of loan is its low annual nominal interest rate, which is 11.4%, and also the procedure of calculating the interest rate on the remaining balance.

For the details of target areas and the terms of funding please visit the official website or the nearest branch of ARMBUSINESSBANK.