In current conditions of high
competition, companies are
trying to build up firm market
positions
and need the support
of a reliable financial partner,
who can offer
favorable services
and credit conditions for
effective development
and future
business planning...
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In current conditions of high competition, companies are trying to build up firm market positions and need the support of a reliable financial partner, who can offer favorable services and credit conditions for effective development and future business planning...
If you need a loan for business development, including expansion of circulating funds, you don’t have to look for banks to credit you. All you need to do is, contact us and we will do the rest; we will analyze the structure of your business and will determine the maximum possible terms and conditions for your credit. Norvik UCO conducts a well defined mutually beneficial cooperating policy with representatives of business sphere, by constantly improving the complex of provided services and optimizing the tariff policy.
Norvik Credit Advantages
- Individual approach to every customer
- Confidentiality
- Optimal financing structure
- Notary services
- No penalties in case of early loan disbursement
- Quick real estate assessment
- Favorable loan repayment terms (up to 5 years)
Additional costs
- Real estate assessment is carried out by an independent assessing organization
- Real estate insurance
- Notary services
Necessary documents
- Bookkeeper’s record and financial statements
- Summary of payable taxes
- Reference on liabilities from serving bank
- Reference on account flows from serving bank
- Licenses (for the licensed activities)
- Copy of CEO’s and Chief accountant’s passports and social cards
- Ownership certificate on place of activities (Lease contract)
- The list on Creditors and Borrowers, also the list of fixed funds
- The commitment of General Meeting of “Norvik” UCO related to pledging and
crediting
- The ownership certificate of pledged real estate
- Agreements with consumers and suppliers
- Reference from Taxing authorities and Pension funds on taxing liabilities
- Reference from State register on shareholders structure
- Reference from Tax Register on liabilities
- Copy of State register certificate, CEO inset, tax code, Charter
- Other documents as necessary
Credit terms |
| Loan amount |
20,000 – 5,000,000 USD |
| Loan maturity |
3 months to 5 years |
| Loan currency * |
USD or Euro * |
| Commission fee |
At least 100 000 AMD or 0.5 - 1% of the loan amount |
| Interest rate |
12-16%
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The interest rate is determined individually considering
- Loan maturity
- Currency
- Positive credit history
|
| Loan provision |
Cash and non-cash |
| Loan repayment |
Cash and non-cash, in case of early repayment no penalty is applied and the interest rate is calculated on the declining balance |
| Loan interest calculation procedure |
Based on the annuity formula, the calculation of the interest is applicable to the declining balance |
| Interest repayment |
Monthly |
| Principal amount repayment |
Monthly, semi-annually, quarterly, at the end of the contract |
| Security (pledge type) |
Real estate |
| Fines amount |
0.1 % per day for the overdue loan/interest amount |
| Maximum term of decision on loan application** |
15 days** |
| Term of informing the loan applicant about the decision** |
3 days ** |
| Term of providing the loan to the borrower** |
10 days ** |
| Additional costs |
Costs related to the Government Real Estate Cadastre State Committee, notary ratification of the contract, property assessment, property insurance |
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* Interests, fines and penalties provided in the contract are paid in AMD, by the currency exchange rate of the payment day (moment)
** If during the process of decision-making on the loan application and/or the provision of the loan any legal questions arise, the above dates may be extended.
Attention: The interest rate defined for this loan is subject to review by the Organization, once within every 12 months from the day of conclusion of the contract till the end of the contract term. As a result of revision the interest rate may be added unilaterally by the Organization if the London Inter Bank Offered Rate (Libor) in USD during the term of the contract and at the end of each cycle is higher that the acting Libor rate by one and/or more full points. In that case the interest rate will be increased accordingly by the amount of Libor rate change.
Warning
In case of not fulfillment or a non-appropriate fulfillment of loan debts by the Borrower, the organization may apply the following sanctions according to the “Procedure of Actions of the Credit Organization in Case of Past Due Payments”: clarification of reasons, written notifications, payment enforcement or collateral confiscation by court.
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Armenia, 0002, Yerevan, 12 Saryan st.
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