Thursday, July 12 2012 21:01

Unibank offers an unsecured loan to small business


ArmInfo. Unibank has worked out and introduced a new loan "Light" to support the small business. The press service of the Bank said that the key peculiarity of the loan is the lack of compulsory mortgage: it is enough for a customer to have a positive credit history and to present two guarantees from individuals or legal entities. The loan is provided to the private entrepreneurs and legal entities.

"Development of small business plays an important role for the economy of any country and is a priority business direction for Unibank. The Bank constantly raises the competitiveness of its products given the customers' needs and the business field specificity", the source says.

The loan "Light" is provided for 18 months. The amount of the loan ranges from $3 thsd to $7 thsd, and the interest rate is min 20% p.a. The repayment is made in equal monthly payments. At the same time, Unibank admits preschedule repayment of the loan without any restrictions or fines. The customers can apply to any of the 41 branches of Unibank to receive the loan. The loan application is considered within no more than three working days after submission of the necessary documents. "The new profitable terms of lending will create more opportunities for small enterprises to develop their business. Given that the affordability of the loan resources for small enterprises is now one of the most topical issues, the Bank has considerably improved the terms of provision of micro-loans and simplified the lending procedure", said Ara Avagyan, Deputy Chairman of Board of Unibank, said.

In Q1 2012 the assets of Unibank amounted to 124.6 bln AMD, and the provision of crediting - 91.4 bln AMD. The Bank's lending to economy grew by 21.2% to 60.8 bln AMD. The share of SMEs in the loan portfolio of the Bank is about 30% or 26.4 bln AMD.
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