VTB Bank (Armenia) CJSC launched its new product - ‘Available’ loan - for medium-sized business.

As the bank’s press service reports, this kind of credit will be available to those legal entities engaged in medium-sized business which run entrepreneural activity on the territory of Armenia at least within three calendar months. Using this product representatives of medium-sized business will be able to enhance existing business as well as to develop new activity directions.

“Presently many Armenian banks consider unreasonable to finance the business from the beginning, since such deals are highly risky. Based on our clients’ requuirements and aimed at increasing the bank’s credit products margin, we have changed the process of solvency assessment and re-considered conditions of financing medium business segment, providing more flexible and optimal approach,” said the head of corporative business developemnt department M.Mamikonyan adding that VTB Bank (Armenia) is always ready to support clients of medium-sized business to boost developemnt of this segment in Armenia.

Credit applications are being considered within 7 days. The credit is allocated in US dollars with the term of 3 years at interest rate starting from 12% annually. The maximum credit size is up to $1 mln.