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Credit Concept UCC provides agricultural loans for the following purposes:
- Establishment of orchards, construction of greenhouses and livestock barns
- Acquisition of land
- Purchase of agricultural machinery
- Purchase of animal feed, seeds, fertilizers
- Increasing livestock numbers
- Renovation of livestock barns, refrigerators, etc.
ATTENTION: ATTENTION: FOR LOANS UP TO 5 MLN AMD, WHEN APPLYING FOR A LOAN, THE LENDER WILL PROVIDE YOU AND YOUR GUARANTOR(S) (IF ANY) WITH AN INDIVIDUAL SHEET OF ESSENTIAL CONDITIONS OF THE CONSUMER LOAN, WHICH WILL PRESENT THE INDIVIDUAL CONDITIONS OF THE LOAN TO BE PROVIDED TO YOU.
ATTENTION: ATTENTION: YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL ORGANIZATION IN YOUR PREFERRED MANNER — BY POSTAL MAIL OR ELECTRONICALLY. RECEIVING INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, FREE FROM THE RISK OF LOSING PAPER INFORMATION AND ENSURES CONFIDENTIALITY.
ATTENTION: ATTENTION: THE PLEDGED PROPERTY MAY BE FORECLOSED IF THE BORROWER FAILS TO MAKE INTEREST AND PRINCIPAL PAYMENTS ON TIME. IF THE VALUE OF THE COLLATERAL IS INSUFFICIENT, THE BORROWER'S OBLIGATIONS WILL BE COVERED BY THE BORROWER'S OTHER ASSETS.
ATTENTION: ATTENTION: IF YOU FAIL TO FULFILL OR PARTIALLY FULFILL YOUR OBLIGATIONS, THE LENDER WILL SEND THAT DATA TO THE CREDIT BUREAU 3 BUSINESS DAYS LATER, WHERE YOUR CREDIT HISTORY IS FORMED. YOU HAVE THE RIGHT TO OBTAIN YOUR CREDIT HISTORY FROM THE CREDIT BUREAU ONCE A YEAR FREE OF CHARGE.
ATTENTION: ATTENTION: A BAD CREDIT HISTORY MAY PREVENT YOU FROM OBTAINING A LOAN IN THE FUTURE.
ATTENTION: ATTENTION: HOW TO IMPROVE A BAD CREDIT HISTORY. IF YOU ALREADY HAVE A "BAD" CREDIT HISTORY, SIMPLY "SITTING AND WAITING" FOR 5 YEARS FOR IT TO "CLEAR" IS NOT THE BEST SOLUTION. DURING THAT TIME YOU MUST: AVOID DELAYS ON CURRENT OBLIGATIONS — EVEN A ONE-DAY DELAY CAN BE A PROBLEM. FULLY REPAY PREVIOUSLY OVERDUE LOAN PAYMENTS. AVOID BECOMING A GUARANTOR FOR UNRELIABLE PERSONS IN THE FUTURE.
ATTENTION: ATTENTION: LOAN INTEREST RATES ARE CALCULATED ON THE BASIS OF THE NOMINAL INTEREST RATE. THE NOMINAL ANNUAL INTEREST RATE SHOWS HOW MUCH THE ANNUAL INTEREST ON THE LOAN AMOUNTS TO, CALCULATED AS A PERCENTAGE OF THE LOAN BALANCE. INTEREST IS CALCULATED DAILY ON THE ACTUAL OUTSTANDING PRINCIPAL BALANCE IN THE LOAN CURRENCY. THE CALENDAR YEAR IS THE BASIS FOR INTEREST CALCULATION.
ATTENTION: ATTENTION: The annual nominal interest rate is the rate declared by the financial organization on the basis of which the amount of interest payable by the borrower is calculated.
The annual effective interest rate shows what the annual nominal interest rate would be if it included all mandatory payments related to the granting and servicing of the loan.
YOU CAN FIND THE CALCULATION OF THE EFFECTIVE INTEREST RATE HERE HERE
ATTENTION: ATTENTION: THE LOAN INTEREST RATE CANNOT EXCEED TWICE THE BANK INTEREST RATE ESTABLISHED BY THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA.
FOR GUARANTORS
- If the borrower fails to fulfill obligations, you will pay in their place, your credit history will deteriorate and you may lose your property.
- You will be provided with copies of the loan, guarantee agreements and repayment schedule.
- Communication will be carried out in the manner chosen by you.
- You will be notified 7 days in advance of any changes to the contract terms.
- The Company will send you an SMS reminder about existing obligations, and in case of loan repayment delay — you will be informed no later than one day after.
- You have the right to request information about the loan balance from the lender at any time, as well as to recover from the borrower the amounts you paid for the loan, as well as other losses incurred on behalf of the borrower.
- Having a positive credit history plays an important role in the decision-making process for loan approval. It can be built by repaying loans without delays and using them purposefully. For more information about credit history, visit www.abcfinance.am and www.acra.am.
