Wednesday, August 17 2011 13:13

In Jan-June 2011 SMEDNC's loan book totaled 34.8mln AMD


ArmInfo. In Jan-June 2011 the loan book of the SME Development National Center of Armenia (SMEDNC) totaled 34.8mln AMD.

A source from SMEDNC reports that during the period the Center granted credit guarantees worth 20.5mln AMD to four SMEs, with their payables totaling 40.7mln AMD (interest inclusive).

The average annual interest on the Center's loans is 15%, the average size of a loan is 8.7mln AMD, of a credit guarantee - 5.1mln AMD. The partner banks are ACBA-Credit Agricole Bank, Anelik Bank, Ardshininvestbank, Unibani, INECOBANK, Armswissbank, Armbusinessbank and VTB Bank Armenia.

In Jan-June 2011 SMEDNC supported 1,987 start-up and operating entities (84.6% in regions - mostly borderline villages - and 15.4% in Yerevan). Besides providing loans and credit guarantees, the Center offers advising on how to promote goods and services and to introduce modern technologies.

SMEDNC was set up in Mar 2002 to become the first national agency supporting SMEs in Armenia.

In 2004 the Center started providing credit guarantees. In June 30 2011 its credit guarantee portfolio totaled 2.85bln AMD including 1.55bln AMD in credit guarantees given to 374 SMEs, whose payables totaled 3.55bln AMD.
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