Individuals

• ID cards of the borrower and the guarantors or their passports and social security cards.
• If the borrower is a sole entrepreneur, a Certificate of State Registration is also required.
• Other documents upon request.

Legal entities

• Certificate of State Registration, director insert.
• ID cards of the director, shareholders and guarantors or their passports and social security cards.
• Copies of the state registration certificate, charter and tax code of the participants of the legal entity.
• Other documents upon request.

Additional

• Documents confirming the client’s income.
• Other documents as required (including based on the “Know Your Customer” principle).
• Documents are submitted in paper form at the time of submitting an application for a loan or within three days thereafter.

Positive factors

• Sufficient level of creditworthiness
• Good credit history
• Stable income generated from agriculture

Negative factors

• Insufficient level of creditworthiness
• Bad credit history
• Absence of stable income
• Non-compliance with the set customer requirements
• Provision of false or untrustworthy info
• Other credit risks

• Decision on the loan application: maximum 1 business day.
• Written or verbal notification of the applicant about the positive decision: maximum 1 business day.
• Written (paper or electronic) notification of the applicant about the negative decision: maximum 1 business day.
• Actual provision of the loan: maximum 2 business days from the date of submission of the application.
• Maximum validity period of the decision on the provision of the loan: 15 business days.

The loan can be applied for at all FINCA branches. Before signing the contract, the client is provided with an individual sheet, which presents the individual terms of the loan to be provided. The client can receive a maximum of 3 loans in parallel with this type of loan, the total of whose actual balances cannot exceed 500,000 AMD.

• In case the borrower breaches the contractual obligations, FINCA may change the interest rate of the loan following the order provided by the contract and the terms constituting an integral part of the contract.
• In case of failure to fulfill the contractual obligations according to the payment schedule, the borrower is obligated to pay a PENALTY for each overdue day in the amount of: 1) 0.13% of the overdue principal, 2) 0.13% of the overdue interest.
• If the borrower fails to repay the principal on time, application of the contractual interest rate towards the overdue amount is terminated and a 24% annual interest rate is applied from the day of breaching the schedule till the loan repayment date. If the amount paid is not sufficient to cover all overdue obligations, the creditor’s expenses incurred in efforts to receive the due payments from the borrower are paid first, followed by the service fees, penalties, interest and principal. This order may change per the creditor’s decision based on the borrower’s written request.
• In case of failing to fulfill your loan obligations, this information is sent to the credit bureau where your credit history is formed. Bad credit history can prevent you from receiving a new loan in the future.
• In case of not fulfilling your loan obligations on time, your property may be confiscated in accordance with the law.
• If the collateral is insufficient to cover loan obligations when repaying them at the expense of the collateral, payments are made at the expense of your other property.

The annual percentage rate calculation is based on the following formula:

where
A – the initial loan amount
n – the sequence number of the installment for loan repayment
N – the sequence number of the last installment for loan repayment
K_n – the amount of the n^th installment for loan repayment
D_n – the number of days between the loan disbursement date and the date of the n^th installment for loan repayment
i – the annual percentage rate

Loan amount

100,000 AMD

Loan maturity

6 months

Loan annual interest rate

15%

Loan service fee

1,5%

Loan disbursement day

20 June, 2025

Loan first repayment date

21 July, 2025

Loan annual percentage rate

38,16%

• FINCA has the right, in cases provided for by the agreement and the terms and conditions that are an integral part of the agreement, to unilaterally change the interest rate on the loan to “+5” percentage points, but no more than by the Central Bank of the Republic of Armenia twice the established provision on calculating bank interest, notifying the borrower about a change that took effect 7 working days before entry.
• Statements of credit obligations are provided in accordance with the legislation of the Republic of Armenia at regular intervals. Other information is provided to a maximum of 10 employees in any FINCA branch during the day based on the application.
• Tariffs for the provision of statements and other information are set in accordance with the internal legal regulations of FINCA.
• You can contact FINCA in any way convenient for you: by mail or electronically: receiving information in electronic form is most convenient, since it does not involve the risk of losing paper information.
• To compare the types of loans offered to individuals and choose the most appropriate option, you can visit the electronic platform “your financial the reference book” www.fininfo.am at the address.

This type of loan is subject to review at least once a year from the date of entry into force.