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SME financing campaign in cooperation with the EBRD


SME financing campaign in cooperation with the EBRD

The campaign is valid from July 20 to December 31, 2021 inclusively

"Converse Bank" CJSC (hereinafter referred to as the Bank) carries out an SME financing campaign (hereinafter referred to as the Campaign) within the framework of cooperation with the European Bank for Reconstruction and Development (hereinafter referred to as EBRD), under the following terms and conditions:

Minimum amount:

5,000,001 AMD

The maximum credit position of one borrower in terms of loans provided within the Campaign

500,000,000 AMD


  • 6- 84 months to acquire fixed assets and to pay off accounts payable
  •  6 - 60 months to replenish working capital

Annual nominal interest rate


In case when the place of business is located in Yerevan
The first 24 months - 10.50% (fixed), then - (CBFR1 + 4.01)% (floating)
In case when place of business is located in the regions of Armenia
The first 24 months - 10.25% (fixed), then - (CBFR+ 3.76)% (floating)

Actual annual interest rate2

10.73 - 15.93%

Grace period for repayment

Up to 12 months in case of receiving financing for acquisition of fixed assets (no grace period is established in case of financing working capital)

One-time fee for loan disbursement

  • In case of financing up to 36 months inclusive -  0 AMD
  • 37 - 60 months including, in case of financing - 0.25% of the loan amount
  • 61 - 84 months including in case of financing - 0.5% of the loan amount

Fee for loan application review


1 CBFR- Converse Bank Floating Rate It 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 change, the nominal interest rate of the existing contracts changes no sooner than one month after the borrower is notified.
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 or EUR, respectively, the "6-month ICE LIBOR US Dollar" and "6-month ICE LIBOR Euro" benchmarks, published by the Intercontinental Exchange (ICE) at website:
Secondary indicators: In case of AMD, the refinancing rate set by the CBA; In the case of the US dollar, the Federal Reserve Bank interest rate on the Federal Funds or the upper limit of the range; In the case of the euro, the European Central Bank's marginal lending facility rate.
Moreover, in case of inaccessibility of the main indicators and the use of secondary indicators , the nominal interest rates on CBFR financing established based on the secondary indicators shall be set so that the nominal interest rate remains unchanged under the change in the fixed component of the financing interest rate.
The specified CBFR rates are published on the Bank's official website at and are available on the Bank's premises.
The calculated nominal interest rate is rounded up to one hundredth.
The Bank may change the floating rate of this loan no more than twice a year.
As of the date of Termsheet update, 24.08.2021, current CBFR value - AMD - 7.73%.
2The actual interest rate, in addition to the fees specified by the Bank, includes other fees required to obtain the loan: collateral valuation, single statement, notary charges and pledge registration fees.

  General terms and conditions

 List of payments made by the Borrower:

Assessment of collateral

For real estate starting from 18,000 AMD
For movable property starting from 10,000 AMD

Single reference

In case of real estate - 10,000 AMD
In case of movable property - 0

Registration of the right to pledge

In case of real estate - 27,000 AMD
In case of movable property - 2,000 AMD

Notary validation

20,000 AMD

Pledged property insurance

- Real Estate: 0.12 - 0.16 (on request)
- Cars (Casco) - 2.5% (used as a taxi - 6%)
- Special purpose movable property according to insurance company quotation

Assessment of collateral

For real estate starting from 18,000 AMD
For movable property starting from 10,000 AMD

Single reference

In case of real estate - 10,000 AMD
In case of movable property - 0

Registration of the right to pledge

In case of real estate - 27,000 AMD
In case of movable property - 2,000 AMD

Notary validation

20,000 AMD

Pledged property insurance

- Real Estate: 0.12 - 0.16 (on request)
- Cars (Casco) - 2.5% (used as a taxi - 6%)
- Special purpose movable property according to insurance company quotation

Banking products provided to borrowers on preferential terms

Type of service


Opening and maintaining new current account / accounts

0 AMD for the entire period of validity of the account:

Current account servicing via "Internet Bank" system

0 AMD for the entire period of validity of the account:

One corporate card service fee

0 AMD for the entire period of card validity*

Other terms and conditions in accordance with the Bank's respective terms of service

*The condition does not apply to the period following the reissue due to the expiration of the card

Fines and penalties

Following fines and penalties may be applied by the Bank

1. In case of overdue loan and / or overdue interest, 0.13% of overdue amount for each day of delay.
Repayments of overdue liabilities are repaid in the following order: fine/penalty, interest, principal amount.

2. In case of violation of any of the conditions for loan disbursement, increase the effective interest rate of the loan by 4 percentage points.
3. When early repayment of the loan is made prior to the mid-validity period, a penalty of 5% is imposed on the early repaid amount.

Frequency and method of repayment of principal and interest

It can be done in one of the following ways:

1. Annuity (Equal monthly repayment), with principal and interest accrued in variable portions.
2. "Spring" (decreasing monthly repayment), in which the principal amount is included in equal portions, and accumulated interest is variable.
3. "Flexible" , in which the principal amount of the loan is repaid based on the specifics of the activity, and the interest payments are made on monthly basis.

Collateral security

-Movable and immovable property, pledging of tangible and intangible property not prohibited by the legislation of the Republic of Armenia, and if necessary, a guarantee.
- In case of leasing, additional property is pledged together with the acquired property, if no prepayment is envisaged.

Loan/collateral ratio

Up to 80% of the estimated realisable value of the collateral (depending on the type of pledged property).
In case of gold items used as collateral, financing is provided in the amount of up to 100% of the appraised value.

Requirements to the Guarantor


  • Must have a stable proven income or ownership/co-ownership for immovable and/or movable property,
  • At the time of loan disbursement may have a maximum of 3 current guarantees against liabilities of other persons whose liabilities are not overdue;
  • should not have problem loans at the time of loan disbursement, nor overdue liabilities of 30 days or more during the last 12 months;

Explanatory information on the guarantee

If the borrower fails to fulfill his/her obligations, 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:

  • Will provide 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,
  • notify at least 7 days in advance of the change in the terms of the contract,
  • Will send reminder of existing obligation 1 day in advance
  • In case of delayed repayment of the loan, will notify the guarantor not later than within the following day.

The guarantor has the right to:

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

Example of calculating interest rates

In case of loan with the following terms and conditions:

Loan amount:

10,000,000 AMD

Nominal interest rate


Repayment period

5 years

Repayment type


Interest amounts structure 
Monthly repayment (principal amount+ interest)


Total interest


Total sum of repayments


 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 communication methods. It is most convenient to receive information electronically, as it is available 24/7, free from the risk of loss of paper-based information and ensures confidentiality.

Provision of statements, references and other information (including VAT) 

• Provision of single statement (regardless of periodicity): 0,
• For a duplicate 1
- Dated back up to 1 month - AMD 1,800
- Dated back from 2 months up to 1 year - AMD 3,000
- Dated back from 1 year up to 3 years - AMD 12,000
- Dated back to 3 years and more (in case it is available in the bank ) - AMD 24,000
• Certificate of account / account balance և / or turnover, based on the application submitted through the Bank's website (only in case of individuals) - AMD 3,000
• Statement1 for submitting to different institutions
- 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
- Within Armenia and Artsakh-
In case of individuals- 0
In case of legal entities և individual entrepreneurs- AMD 500
- Tariff set by the shipping service provider, if established by law and contract.
- In other cases, the fee set by the shipment service provider + AMD 1,500
• Delivery of references or other documents via Ordered mail shipping
- Within Armenia and Artsakh- AMD 3,000
- International - fee set by the shipment service provider + AMD 3,000
• Provision of Bank consent for registration of individuals at the address of pledged real estate (regardless of number of registered persons) - AMD 3,000
• Granting consent for modification of documents on real estate property pledged with the Bank3: 0.5%, minimum AMD 12,000 , maximum AMD 60,000
• Granting consent for the lease of pledged real estate property- AMD 12,000
• Grant of consent to change the registration plates of the pledged car - AMD12,000
• Granting consent for the lease of pledged vehicle - AMD 8,000
• Partial release of pledged property based on the application of the pledgor or the borrower (except for the pledge of cash as well as unallocated metal accounts) - AMD 20,000 (per property)
• Loan terms revision4 - 0.5%, minimum AMD 6,000

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 shall be calculated on the basis of the estimated initial value of the collateral.
4 The tariff is calculated based on the amount of loan provided. The tariffs are set at the time of submission of the application by the customer for revision of the loan terms.

List of required documents

  • Loan Application Form
  • ACRA inquiry, guarantee consents
  • Identification document of applicant individual entrepreneur, executive body of legal entity, authorized person, participant, real beneficiary, pledgor, guarantor (for a legal entity - founding documents), Public Service number or statement on not obtaining PSN (not required if identity card is submitted)
  • Charter, state registration certificate with all inserts, and Taxpayer Identification Number
  • In case of an open joint stock company, a statement from the depositary on the shareholders
  • Document certifying ownership title for the property offered for pledge, the basis for the acquisition and the identity document of the owner
  • Тax reports for the past one year
  • Statement on tax liabilities
  • Ownership Certificate or Lease Contract for the place of operation, or other evidence of entitlement to the customer's place of business (e.g., statement from the village administration)
  • Initial and basic collateral valuation (revaluation) report (after loan approval) report or a basis for determining the value of the proposed collateral
  • Extract from the resolution protocol of general meeting or sole participant on acquiring funding, pledging of property, provision of guarantee
  • Collateral insurance certificates (for insurance claim - after loan approval)
  • Statement on limitations (after loan approval)
  • Other documents as needed


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 credit 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 contract, 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 preference, which is considered a due notification of the Customer.

If the requested credit facilities are provided also or exclusively for the purpose of refinancing your other credit liabilities with other entities (banks, credit organizations, etc.), we hereby warn you that you are required to repay outstanding interest, penalties, servicing, and other payments to those entities after refinancing, and the Bank shall not be liable for any failure from your side to perform these obligations.

 Factors for positive or negative decision on providing the loan

The Bank is inclined to provide the loan if:

  • The applicant complies with the terms and limiting conditions of the loan.
  • At the request of the bank, the applicant secures its credit liabilities with collateral.
  • The applicant is recognized as creditworthy as a result of the assessment.
  • The documents submitted by the applicant are reliable and include all necessary information;
  • The applicant's credit history is either positive or missing.
    Failure to comply with any of the above conditions, as well as other requirements of the Bank's internal regulations, may result in refusal to provide the loan.

Time periods for notifying the customer of the decision to provide the loan and for the loan disbursement.

  • The decision-making proces takes a maximum of 10 banking days.
  • The Customer is informed within one day.
  • Loan agreements are concluded within a maximum of 3-5 banking days after the Client submits the complete package of documents to the Bank.
  • The actual loan is provided to the client as soon as he/she receives the certificate on the right to pledge from the relevant state bodies.

Venue for loan formalities and method of disbursement

Loan is provided at Head Office and Branches
In case of purchase, the loan amount is transferred directly to the developer's account. In case of renovation, the loan amount is disbursed to the borrower by way of depositing it to the borrower's bank account.

Your financial directory

Your financial directory is an electronic system combining services offered to individuals that makes it easy to search, compare and find the most effective option for you

Procedure for resolving 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 obmudsman.

Notice on Financial System Mediator

Please be informed that according to the RA Law on Financial System Mediator, in case of property claims arising out of services rendered to you by Converse Bank CJSC, disputes and disagreements for not exceeding million AMD or equivalent foreign currency may be resolved through the Financial System Mediator.
According to an agreement between the Bank and the Office of the Financial System Mediator, the Bank waives the right to challenge the Financial System Mediator's decisions only in relation to property claims not exceeding 250,000 (two hundred and fifty thousand) AMD or equivalent currency, and on transaction amounts not exceeding 500,000 (five hundred thousand) AMD or equivalent foreign currency.
Address: 0010 Yerevan, Khorenatsi str. 15,
"Elite Plaza" business center, 7th floor
Telephone: (+37460) 70-11-11
Fax: (+37410) 58-24-21:

Contact with the Bank
For more details and more information you can:
visit the Bank's website at
visit the Bank's Customer Service at the Head Office or any branch
Call: 374 10 511211
Viber: 374 95 511211
Skype: conversebank-callcenter


Updated on 24.08.2021