Monday, May 7 2012 19:38

Over Q1 2012 SMEDNC Fund provided 47.5 mln AMD loan guarantees to small and medium enterprises


ArmInfo. Over Q1 2012 the credit portfolio of the Small and Medium Entrepreneurship Development National Centre of Armenia (SMEDNC) totaled 60.8 mln AMD. SMEDNC told ArmInfo that over that period 5 small and medium enterprises (SMEs) received 47.5 mln AMD loan guarantees, and the total amount of their loan commitments amounted to 86 mln AMD (including interest payments).

The source said that the average annual interest rate for the loans is 15%, the average amount of the loan is 12.1 mln AMD, the average amount of the loan guarantee is 9.5 mln AMD. The loan guarantees were provided via 3 partner banks of SMEDNC: Armenian Development Bank (to 2 SMEs), INECOBANK (to 2 SMEs), Anelik Bank (to 1 SME).

In Q1 2012 SMEDNC satisfied 1,796 applications from SMEs: in 1,735 cases it was advising, in 35 cases - start-up support, in 18 cases - Enterprise Europe Network assistance, in 5 cases - credit guarantees, in 3 cases - soft start-up loans.

Some 1,606 applications (89.4% of all applications received) were from the regions, 190 or 10.6% from Yerevan.

In 2004-2011 SMEDNC provided 386 SMEs with credit guarantees worth a total of 1.61bln AMD. As of Apr 1 2012 the payables of those companies, with the interest inclusive, totaled 3.7bln AMD.

Established in 2002, SMEDNC is the first national authority supporting to SMEs in Armenia.
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