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Corporate financing provided within the framework of cooperation with the European Investment Bank


Corporate financing provided within the framework of cooperation with the European Investment Bank

Within the framework of cooperation with the European Investment Bank, "Converse Bank" CJSC (hereinafter referred to as the Bank) performs corporate financing (hereinafter referred to as the Loan) with the following lending conditions:

Private Sector Financing Program

Terms and conditions of financing


Acquisition / replenishment of tangible assets / or intangible fixed assets, working capital for the purpose of carrying out agricultural activities, processing of agricultural products, tourism, export promotion and production.


RA resident SMEs (micro-small, small-medium) as well as medium-capitalization/large organizations engaged in agriculture, processing of agricultural products, tourism, export promotion and production

Minimum period of customer's operation

6 months consecutively

Amount and currency

AMD 5,000,001 – 1,500,000,000


If the share of working capital within loan amount:

-       is 30% and above - 24 - 36 months

-        is up to 30% - 24 - 90 months

A grace period of up to 30 months may be established for the repayment of the principal amount of the loan.

Annual nominal interest rate

Fixed - 9%

Actual annual interest rate*

9.35 - 9.50%

Loan application review, disbursement and encashment fees



Borrrower's investment requirement

The borrower is obliged to make investments from own funds in the form of financial resources, property and performance of works, in the amount of at least 20% of the total project cost.

Restrictions on the disposal of funds in the credit account

In some cases, at the Bank's discretion, the use of the loan amount or part of it in cash form may be limited with the purpose of controling the designated use of the loan (transfers from any of the customer's accounts to another account opened in the Bank or other banks is also considered to be a use in cash form).

Requirements for the credit history of the borrower (including more than 10% participants in its authorized capital)/guarantor

ü  At the time of the loan application being considered, these individuals should not have any currently overdue credit liabilities (including guarantees), as well as liabilities classified by a class stricter than "standard" class, unless sufficient documentary support is provided to evidence the reasons for payments becoming overdue/classified.

ü  Overdue days of any financing (current and repaid) provided to each of the individuals above should not exceed a total of 25 days during the 12 months preceding the loan application date, and overdue days on all financing (current and repaid) should not exceed a total of 50 days.


The borrower is obliged to carry out the activity in accordance with the Environmental and Social (( and other relevant standards of the European Union legislation, also to ensure that any individual or an organization included in the list of sanctions shall not be involved in the processes carried out within the framework of this program, and the loan funds or any result generated within the program shall not become directly or indirectly available to the mentioned persons.

List of sanctions: any economic, financial or trade restrictions and arms embargoes established by the European Union and the United Nations Security Council, but not limited to those, which are available on their official websites: and

Terms of the loan provided from the Bank's own resources in case of the application rejection, or in case of a lack of funds for making an investment within the program, as well as in case of impossibility of sourcing funding under other programs






Annual nominal interest rate

For the first 12 months




13 - 90- months

(FR* + 0.70)%, but not less than the fixed interest rate for the first year

(FR + 4.40)%, but not less than the fixed interest rate for the first year


(FR + 4.70)%, but not less than the fixed interest rate for the first year

One-time fee for loan disbursement

0.5%  of loan amount

* * FR- Floating Rate is set twice a year by the Bank on the basis of the primary indicators, and in the event of unavailability of the latter - based on secondary indicators. In case of changes, the procedure defined by the agreement concluded with the borrower is applied.

ü  Key indicators:

-       In case of AMD, the yield curve of 180-day government bonds of the Republic of Armenia, published by the Central Bank of Armenia at 

-       In the case of USD, 6-month secured overnight fund rate in USD (CME Term SOFR 6 Month), which is published on the following link: Term SOFR - CME Group (either by the Bloomberg system: TSFR6M, or by the Reuters system: SR6M),

-       In the case of EUR, the 6-month EUROBOR benchmarks, published on the following link: 6 months Euribor rate ( (by either Bloomberg system: EUR006M, or Reuters system: EURIBOR6MD).

ü  Secondary indicators.

-       In the case of AMD, the weighted average interest rate of AMD deposits with a maturity of 91 - 180 days attracted from legal and individual persons by RA commercial banks as of the last available month,

-       In the case of US dollars, the 6-month maturity yield of the US Treasury bond yield curve,

-       In the case of the Euro, the 6-month interest rate of the German Euro bond yield curve.

In case of transition from the key to the secondary indicator, the surcharge in the calculation of the financing rate is adjusted/clarified by the average of the differences in the interest rates of the key and secondary indicators over the last 3 years.

Provided that the key and secondary indicators become unavailable or their application becomes impossible, the last published indicator of the floating interest rate is taken as the basis for the next period and is fixed for the entire period of the loan, unless otherwise agreed between the Bank and the customer.

The specified Floating Rates are published on the Bank's official website at are available at the Bank's premises.

The Bank may change the floating interest rate of this loan not more than twice a year.  The maximum threshold for raising and lowering the floating interest rate is set at +/- 2.5 percentage points. Floating rates are rounded in favor of borrowers up to one decimal.

The FR values as of the date of Termsheet (Information bulletin) update are set as: AMD – 10.72%, USD – 5.44%, Euro - 3.96%.


 Funding is not provided for the following purposes:
Production (or construction), distribution (or processing) and sale of weapons, ammunition, military or police equipment or infrastructures, or such equipment or infrastructures that restrict the individual rights and freedoms (such as places of detention),
  Organizing gambling and/or production (or construction), distribution (or processing) and sale of other equipment related to the above,

 Production (or construction), distribution (or processing) and sale of tobacco products/devices,
 Activities where alive animals are used for the purposes of conducting research and scientific tests, unless the requirements of the Council of Europe (CoE) Convention for the Protection of Vertebrate Animals used for Experimental and other Scientific Purposes are met,

Activities prohibited by national legislation (if any). Examples: genetically modified organisms, pregnancy termination clinics, etc,
Activities that result in significant environmental risks that are not normally mitigated and/or compensated (including, but not limited to, projects implemented in protected areas, cultural heritage sites, etc.),
Activities that are ethically or morally controversial or prohibited by national law, such as sex trade, related infrastructure, human cloning related research, etc.,

 Production and/or sale of goods infringing trademarks or geographical indications in the EU area ("counterfeit goods"),
 Acquisition, construction or renovation of real estate for sale or rent,

 Consumer loans,
 Purely financial activities, such as buying and selling financial instruments,
 Business taxes such as value added tax, import/export taxes and duties. Expenses related to patents, quotas, production permits and other rights issued by the relevant authorities also cannot be financed under the Loan Program,
 Acquisition of land, unless it is technically required for the implementation of the Loan Program, and does not exceed 10% of the Loan Program,
 Acquisition of land for agricultural purposes.

List of payments made by the borrower

Collateral valuation

In case of immovable property/real estate from AMD 18,000 – 360,000 (depending on the type and area)

In case of movable property from AMD 10,000 – 50,0000 (depending on the type)

Single reference

Immovable property/real estate - AMD 10,000

Movable property - AMD 0

Registration of the right of pledge in the RA Cadastre Committee

Immovable property/real estate - AMD 27,000

Movable property - AMD 2,000

Notary validation

AMD 20,000

Insurance of the pledged property

- Immovable property/real estate - 0.12 – 0.25 (if required)

- Passenger car (Casco) – 1.5-2.5% (if used as a taxi - 6%)

- Other movable property - 0.185 - 0.5%

- Special purpose movable property - as quoted by the insurance company

Fines and Penalties
The Bank can apply the following penalties and charges:

1. Upon default of due dates under the Agreement, the Borrower pays the Bank a penalty at 0.13% per day of delay.
Upon repayment of overdue liabilities, the payments are made in the following sequence: penalty – interest – principal
2. The interest rate of the loan is increased by 4 percentage points max for every case of violation of the lending pre-conditions.
3. Upon early repayment of the loan until the mid-maturity, an early repayment charge is applied at 5% of the early repaid amount.

Frequency and method of principal and interest installments
One of the below listed:

1. Annuity (equal monthly installments), where the principal and the accrued interest are variable.
2. Spring (descending monthly installments), where the principal is fixed and the accrued interests are variable:
3. Flexible, where the principal installments are made based on the business specifics, and the interests are paid monthly.

Collateral security

Pledge of movable property. If necessary, other assets may be pledged as well, including acquired fixed assets and working capital, and if necessary - guarantees.

Loan / collateral ratio - LTV
Up to 100% of the evaluated liquidation value of the collateral depending on the type of pledged property, purpose, location, year of production/construction, the maximum share of the collateral in the total amount of collateral, and financing features.

Explanatory notes on the guarantee

If the borrower fails to fulfill his/her liabilities, the guarantor will pay on behalf of the borrower, the guarantor's credit history will deteriorate as well, and the guarantor may be deprived of his/her property.

Converse Bank:

• Provides the guarantor with an example of loan and guarantee agreements and a repayment schedule,
• The communication will be carried out in the manner chosen by the guarantor,
• Notifies at least 7 days in advance of the change in the terms of the agreement,
• Sends reminder of existing obligation 1 day in advance,
• In case of delayed repayment of the loan, notifies the guarantor not later than within the following day.

The guarantor has the right to:

• Request the Bank for information on the size of the loan balance, at any time,
• Get a refund of loan-related payments made, as well as of other losses incurred on behalf of the borrower.

Collateral evaluation
The pledged property is subject to evaluation by one of the evaluation companies cooperating with the Bank. The evaluation company is selected by the Customer. The evaluation report is usually valid within 3 (three) months from the date of the report. An additional re-evaluation may be required if necessary (for example, if market prices change).
In case of gold pledge the evaluation is performed by a Bank employee.
In case of purchase of vehicles, construction and agricultural equipment and other equipment from the primary market, the amount specified in the purchase agreement or invoice may be taken as a basis, and up to 90% of the market value is taken as a basis for liquidation value.

Evaluating companies

Evaluating company


Telephone numbers

"Amintas Group" LLC

"Tun Depo" complex, 23/6 Artsakh Str., c. Yerevan

(010) 432 276,(094) 432 276, (096) 432 276

"RVM Consult" LLC


Tpagrichneri str. 9, room 114, c. Yerevan


(010) 546 490, (098) 944 449, (077) 944 449, (093) 944 449

"Abit" LLC

 Tumanyan str. 8, room 314, c. Yerevan

(033) 999 880, (096) 999 888


Vardanants passage 8/3, room 209, c. Yerevan

(010) 588 797, (043) 588 797

Collateral insurance
The Bank may require insurance of the pledged property based on the purpose of the financing, the transaction or the specific features of the pledged property and the degree of creditworthiness of the borrower.
Insurance is carried out at least in the amount of the balance for the entire financing period (unless otherwise determined by the Bank), by any of the insurance companies cooperating with the Bank.

 List of insurance companies

Insurance company


Telephone numbers

"Ingo Armenia" ICJSC

c. Yerevan, Hanrapetutyan 51, 53, areas 47, 48, 50

(010) 592 121


c. Yerevan, Komitas Avenue 62

(060) 275 757, (098) 560 797

“Liga Insurance” ICJSC

c. Yerevan, Northern Avenue 1

(010) 591 010

"Nairi Insurance" LTD

c. Yerevan, 0033, Avet Avetisyan 116/1 and 116/5

(060) 500 060, (010) 543 594


c. Yerevan, 0033, Hr. Kochar 35/1, RA

(010) 700 800

 Communication with the Bank

You have the right to communicate with Converse Bank CJSC in any format at your discretion - by postal mail or by electronic means of communication. It is most convenient to receive information electronically, as it is available 24/7, free from the risk of loss of hard copy (paper based) information and ensures confidentiality.

Provision of statements, references and other information (including VAT)
Provision of single statement (regardless of periodicity) -AMD 0,
• For a duplicate 1.

- Covering a period of up to one month- AMD 1,800
- From 2 months up to 1 year - AMD 3,000
- Up to one year - AMD 12,000
- Up to 3 years (in case it is stored by the Bank) - AMD 24,000

• Statement for submitting to different institutions1
- In case of accounts opened within a month 2 AMD 5,000
- In case of accounts opened earlier - AMD 3,000

• References / Letters
On transactions made
- For transactions dated back up to one month - AMD 3,000
- For transactions dated back more than one month - AMD 5,000
 Notice of agreement on consecutive pledge/alienation of property pledged in the Bank - AMD 6,000 for each pledged property

• Transaction support documents and copies of other documents (for each document)
- Dated back up to 1 month - AMD 1,800
- Dated back up to 1 year - AMD 3,000
- Dated back more than one year - AMD 12,000

Tariffs for other services (including VAT)

• Mail delivery of statements or other documents
- For individuals – 0
- For private entrepreneurs - AMD 500
- Tariff set by the delivery service provider, if established by law and agreement.
- In other cases, the fee set by the shipment service provider + AMD 1,500

• Delivery of references or other documents via Ordered mail delivery
- Intra-republican - AMD 3,000
- International - fee set by the shipment service provider + AMD 5,000
Granting consent for registration of persons at the address of pledged real estate (irrespective of number of registered persons) - AMD 3,000
Granting consent for modification of documents on real estate property pledged with the Bank3 - AMD 20,000
Granting consent for the lease of pledged real estate property- AMD 12,000
Granting consent to change the registration plates of the pledged car - 12,000 AMD
Granting consent for the lease of pledged vehicle - AMD 8,000
Granting consent to take out of the country the movable property pledged in the Bank - AMD 12,000 (for each pledged property)
Partial release of pledged property based on the application of the pledgor or the lessee (except for the pledge of cash as well as unallocated metal accounts) - AMD 20,000 (per property)
Lease terms revision4 - 0.5%, minimum AMD 6,000

1 In case of simultaneous provision of a statement and reference to the same Customer and charge envisaged for the reference, the charge will be collected for reference only.
2 In case of more than one active account, the opening date of account which has been opened earlier is taken into consideration irrespective of whether or not included in the statement.
3 The tariff is applied only for individuals.
4The tariff is calculated based on the amount of lease provided. The tariffs are set at the time of submission of the application by the customer for revision of the lease terms.

Required documents


Application form for a loan


For a legal entity - founding documents, statute, certificate of state registry


In case of an open joint stock company, a statement from the depositary on the shareholders


Identity document, public service number (PSN) or statement on non-receipt of PSN of the founders, director, guarantors, pledgers and other related/affiliated persons of the company (not required if an identity card is presented).


Consents to inquiries of the applicant, guarantors, pledgers and other related parties.


Pledge ownership certificate, grounds for registration.


Preliminary valuation letter on collateral /is submitted prior to the loan approval/.


Collateral valuation report /is submitted after the loan is approved/.


Тax reports for the period from January 1 of the previous year to the current period.


Single tax account statement for the abovementioned period


Tax liability statement (electronic).


Cooperation agreements, licenses, permissions (if any) depending on the sphere of activity.


Grounds for the place of activity: lease agreement, ownership certificate.


Financial information:

ü  cash flows from the beginning of the previous year to the current period of analysis,

ü  as of the beginning, end of the previous year and current period of analysis:

-       balance sheet,

-       detailed information on receivables and payables,

-       detailed information on fixed assets.


Bank account statements from January 1 of the previous year to the current period of analysis.


Extract from the minutes of the general meeting or the sole participant on obtaining financing, pledging property, providing a guarantee.


Collateral insurance certificates (if insurance required - after loan approval).


Statement on limitations on pledged property (after loan approval).


Other documents required by the Bank.

Credit history

Credit history is a collection of data on the financial obligations of an individual or legal entity, which shows the history of the latter’s financial obligations or their fulfillment.
The credit history includes data on 5 year-period prior to the date of inquiry, and is made from information on:
• Financing received by the person, including:
- their number and amount,
- the amount, type, terms of each financing, the nominal interest rate applied by the creditor,
- the information on collaterals securing loan/financing.
• Fulfillment of loan repayments (for example, whether the interest and principal amount repayments were duly paid or not),
• Guarantees provided to other persons, their number and amount, the type of loan secured by each guarantee, terms and information regarding collaterals,
• Overdue days/amounts in terms of financing and guarantees, as well as the penalties and fines charged for them,
• Unpaid or late utility bills.

Credit history does not contain personal data, such as a person’s ethnicity, religious and political views, social status, etc.

If there are incorrect or incomplete data in the credit history, for the purpose of clarification and correction, the borrower can inform about it "ACRA Credit Reporting" CJSC, hereinafter also Credit Bureau, or directly contact the financial organizations providing information. People can address credit bureau by submitting an appropriate written application or electronically, online from the personal portal "My ACRA".
The process of accepting/receiving, discussing and responding to customer complaints regarding credit reports provided by the credit bureau, the sequence of actions is defined by the "Procedure for Dispute Resolution" of "ACRA Credit Reporting" CJSC.

For more details follow the links: and links.

Measures to take to improve the credit history and scoring

In order to improve credit history and scoring, it is necessary to eliminate the main causes of their deterioration, in particular, to pay off current overdue obligations as soon as possible, as well as:

• ease the credit burden by partially or fully repaying existing loans,
• make repayments in accordance with the established schedule, excluding delays and showing punctuality,
• reduce the given guarantees by reducing their number and amount, as well as, if available, ensuring the full repayment of overdue obligations,
• avoid even one-day delays in fulfilling obligations on current/existing loans and becoming a guarantor for unreliable persons,
• avoid applying for new loans frequently.


If you fail to fulfill or incompletely fulfill your obligation, within three business days this information will be provided to the credit bureau where your credit history is formed. Having a bad credit history can negatively affect your creditworthiness in the future. You have the right to receive your credit history report for free once a year from the credit bureau.

Your property may be confiscated by law if you fail to make your interest and loan repayments on time.

In case of insufficient funds to repay your loan liabilities, they may be repaid at the expense of your other property and/or that of the guarantor, as prescribed by the RA legislation.

In accordance with the RA Law on Combating Money Laundering and Terrorist Financing, on the basis of the Know Your Customer Principle, the Bank may require the Customer to provide additional documents or other information, as well as ask questions during verbal communication, for the purpose of conducting due diligence of the Customer.  

The Bank may collect additional information in accordance with the terms of an agreement with the US Government under the Foreign Account Tax Compliance Act (FATCA) to determine your eligibility for being a US taxpayer.

The Bank is entitled to modify and supplement the tariffs for additional services provided by notifying the Customers in accordance with the agreement, by posting a relevant message on its own website ( ), by posting announcements on the Bank's premises, by sending a notification by post, and by any other methods proposed by the Bank selected at the Customer's discretion, which is considered a due notification of the Customer.


Factors for loan approval and rejection
The Bank is inclined to approve the loan, if the applicant:

• meets the conditions and restrictions of the particular loan,
• secures his loan obligation with a pledge and guarantee, at the request of the Bank,
• as a result of the assessment the applicant is recognized as creditworthy,
• the documents and references submitted by the applicant are credible and include all necessary information,
• the applicant's credit history is either positive or missing.
The incompliance on the part of the applicant with any of the aforementioned conditions and with the requirements of the Bank’s internal regulations can cause the rejection of the loan.

Time span for notifying the customer of the decision to provide the loan and for the disbursement of loan amount.
-The decision making takes up to 10 banking days after submission of required documents and analysis,
- The customer is informed within one day,
- The loan agreement is concluded with the customer within 3-5 banking days after submission of the complete package of documents by the customer,
- The actual disbursement of the loan amount to the Customer is performed upon receiving the certificate of pledge right from the relevant state authorities.

Venue for loan formalities and method of disbursement
Loan is provided at Head Office and Branches.
The loan amount is provided to the borrower by depositing the sum into his/her account.

Settlement of Disputes
Any disputes and disagreements between the Customer and the Bank shall be resolved first by mutual negotiation, and should the agreement not be reached by such methods, the disputes and disagreements shall be resolved in accordance with the procedure prescribed by the RA legislation both per court procedure, and through Financial System Mediator.

Notice on Financial System Mediator
Please be advised that based on the RA Law on Financial System Mediator, the disputes relating to a property claim for up to AMD 10 million or equivalent foreign exchange amount arising with regard to the services rendered to you by Converse Bank CJSC can be settled through the Financial System Mediator.

Based on the agreement concluded between the Bank and the Financial System Mediator, the Bank abandons the right to dispute the resolutions of the Financial System Mediator only for property claims not surpassing AMD 250,000 (two hundred fifty thousand) or the equivalent in foreign currency, and the amount of the transaction not surpassing AMD 500,000 (five hundred thousand) or equivalent in foreign currency.

Address: M. Khorenatsi 15, 0010 Yerevan
Business center Elite Plaza, Floor 7
Email: [email protected]
Tel: (+ 37460) 70 11 11
Fax: (+ 37410) 58 24 21

Contact the Bank
For additional information, please

• visit the Bank’s website
• visit the Customer Service Office at the Head Office or any branch of the Bank
• call +374 10 511211
WhatsApp: +374 95 511211
Skype: conversebank-callcenter

                                                                                                                                                      Updated on 14.01.2024