On November 4, Ameriabank CJSC will introduce a new instrument at Armenia’s lending market – financing of trade application.

According to Director for Corporative Clients of Ameriabank Levon Arevshatyan, a loan agreement envisages a certain pledge, which serves as bank’s guarantee for the return of funds provided to a client. “However, there are such schemes of lending, which do not require a pledge,” Arevshatyan told a press conference. “They include financing of a trade application, when a company has already signed an agreement on delivery, but it lacks the required funds and pledge for obtaining a loan.”

Levon Arevshatyan added that in such case the bank is ready to finance up to 75% of the needed sum, if two basic requirements are met: the supplier company has a good history, besides, financial opportunities and creditworthiness of the company, which decided to use the new mechanism, will be estimated. The trade application’s financing may total up to USD 200,000, with maximum term of 180 days, at 16% interest rate.

Head of the Consulting Service of Ameria CJSC Gagik Sahakyan said that as part of the development strategy the bank introduces innovative banking services in Armenia, thus securing availability of international banking services for Armenian consumers.