Friday, September 9 2011 17:03
ProCredit Bank Launches New 12 Year Business and Agro Loans for Capital Investments
ArmInfo. ProCredit Bank introduces business and agro loans with up to 12 years of maturity.
The acting executive director of the Bank, Ashot Abrahamyan told ArmInfo correspondent that under the given project the Bank will provide loans ranging from 30 thsd USD to 800 thsd USD.
Meanwhile, the press service of ProCredit Bank told ArmInfo that business loans are provided for real estate acquisition, renovation and construction, purchase of equipment and vehicles. Agro loans are intended for financing purchase of agricultural techniques, land and garden, construction and renovation of barns, greenhouses, as well as for other agricultural investments.
Loans are provided in U.S. dollars with interest rates starting from 10% for variable rate loans and from 12% for fixed rate loans with up to 144 months repayment period. This unique long-term lending solution is an excellent opportunity to establish long-term mutually beneficial relationships between the Bank and the clients. The loan aims to stimulate capital investments in SME and agro sector, to promote effective implementation of their business goals, as well as to provide them with a long-term planning possibility.
The acting executive director of the Bank, Ashot Abrahamyan said: "ProCredit Bank remains committed to its mission and tailors solutions contributing to the development of Armenian economy by introducing a variety of options for financing. We strive to find new ways of providing services with more favorable conditions to our customers. We are sure that new long-term loans will allow them to set a number of new long-lasting business plans and implement number of long-term business projects".
ProCredit Bank is a full-fledged Bank with 100% foreign capital, focused on the development of small and medium sized enterprises as well as on promotion of savings culture among the population. ProCredit Bank in Armenia is part of the ProCredit Group, consisting of 21 financial institutions operating in Eastern Europe, Africa and Latin America, which are governed by ProCredit Holding AG located in Frankfurt am Main, Germany.
Shareholders of ProCredit Bank in Armenia are international well-known institutions such as: ProCredit Holding AG - 68.46% shares, EBRD - 16.67% shares, KfW - 14.87% shares.
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