On the eve of women’s holidays, Prometey Bank and Banks.am portal, a subsidiary of Mediamax Internet Holding, organize a joint contest for women engaged in business.

To take part in the contest, the participants should submit their own proposal (a concept) for the future development of an operating business, which can be realized through anticipated loan funds (a business loan).
Prometey Bank will provide a business loan to the contest winner for the development of an operating business by the following preferential terms:

•    annual interest rate            8%
•    loan redemption term         up to  7 years
•    amount                             up to USD 100 000

There might be up to 3 winners in case they submit equivalent proposals (interesting/innovatory ideas).

The contest is open for the representatives of business community from Yerevan, Armenia’s regions and NKR, who:

•    are sole shareholders of the company for at least a year or shareholders with equity participation of over 10%;
•    are private entrepreneurs for at least 1 year;
•    Serve as a company’s Director /CEO for at least 6 months or lead a division performing  Business Development functions.
 
Mandatory conditions imposed on a potential borrower (company and/or private entrepreneur)

The potential borrower should:

•    be a resident legal entity/or a resident private entrepreneur;
•    have a positive or neutral credit history;
•    have a sufficient level of solvency;
•    be ready to provide equivalent subject of collateral.

Information on subjects of collateral and loan/collateral correlation acceptable for Prometey Bank depending on the type of collateral is available here.

To participate in the contest the participants should submit their own proposal (a concept) for the future development of the operating business in Armenian (font- unicode, font size- 11); the volume should not exceed 1.5 printed pages. The proposal should consist of two main parts.

The first part should contain the brief description of the activity of the company or the private entrepreneur including: the trade name of the company and the legal organizational form (except for the private entrepreneur); the date of the state registration of the company (for the private entrepreneur- the date of the state record); the actual location of the company; the main directions of the business over the last year; goods/services sales market/markets; the number of employees (for private entrepreneurs –hired employee/employees).

The second part should contain the business development proposal (the concept) including: the anticipated volume of the loan, the credit redemption term, as well as the justification of increasing the efficiency of business-processes as a result of the investment.

The proposal should be sent to 2 e-mails simultaneously: info@banks.am and pr@prometeybank.am, with Contest 8 in the subject.  

Proposals are accepted form March 8 to April 7 (inclusively). The name/names of the winner/winners will be announced on April 15.

The position, telephone number (landline and mobile), business e-mail, company’s web site (if there exists one) and participant’s photo (high quality, 700/600px) should be attached to the mail.

To ensure the transparency of the contest, the proposals received during the contest will be published on Banks.am with the photo of the participant, if the latter doesn’t object to publish the proposal.

Following the results of the contest, the proposals of the winner/winners will be published on Banks.am with the participant’s photo (a mandatory condition).

The winner/winners will be chosen by a joint jury comprised of the representatives of  Prometey Bank and Mediamax (Banks.am) – the content (the idea) of proposals will be evaluated by Prometey Bank and Mediamax.

The final decision on providing a loan will be made by Prometey Bank. The authors of proposals likely to win the contest will be invited to Prometey Bank to submit their application which will be thoroughly studied.

Prometey Bank and Banks.am wish success to all participants of the contest.