ArmInfo.Converse Bank offers a short-term loan "Bridge" for SMEs. As ArmInfo explained to the press service of the bank, this product allows small and medium-sized businesses operating in various fields to receive one-year loans to replenish working capital or to plan funding for short-term liquidity.
This loan is provided both in drams, and in dollars and euros."Credit Bridge" is one of the best instruments for short-term financing for small and medium-sized enterprises, which differs from similar offers on the market, first of all, in flexibility. It allows the client to plan income and, accordingly, choose the maturity date,"the report says.According to the source, the shorter the repayment period, the lower the interest rate. Namely, in the case of full repayment of the amount in the first quarter, the annual interest rate is 10% with a dram loan, 6.5% with a dollar loan and 5% with a euro loan. After crediting, if the client wishes, the repayment period can be extended up to 48 months.At the initial stage of crediting, a visit to Converse Bank is not required. The necessary consultations are provided by the Bank's employees during their visit to a client representative of SMEs.For more information on the terms of the "Bridge" loan, please visit the Converse Bank website at: https://www.conversebank.am/en/BRIDGELOAN/
According to the data of the Financial Rating of Banks of Armenia as of January 1, 2019, prepared by ArmInfo IC, Converse Bank is in the scope of agrocredits in TOP-5 - 10.1 billion drams or $ 20.9 million, with an annual growth of 44.3%. In terms of the annual growth of agricultural lending, Converse Bank occupies the 3rd position. In the loan portfolio of the Bank, agrocredits account for 5%. In the total loans to agriculture in the market, the share of Converse Bank is 6%. According to the Financial Rating of Banks of Armenia, as of January 1, 2019, prepared by ArmInfo Investment Company, the Converse Bank portfolio on lending to SMEs reached 35.4 billion drams or $ 73.2 million, with an annual growth of 46.2%. The rate of annual growth in lending to SMEs Converse Bank is in the TOP-3. In the loan portfolio of the Bank, loans to SMEs account for about 18%. In total loans in the SME market area, Converse Bank's share is 5%.It should be noted that Converse Bank has been operating in the Armenian market since September 1996. As of January 1, 2019, the Bank's shareholders are Advanced Global Investments LLc (led by Eduardo Ernekian) - 80.94%, HayPost Trust Management B.V. - 14.06%, Ecumiadzin Cathedral - 5%.