Armbusinessbank launched ABB-Energy Efficient Business loan product.

The bank informs that within the frames of Energy Efficiency for MSMEs program, Armbusinessbank in cooperation with the German bank of KFW offers ABB-Energy Efficient Business loan product to RA resident legal entities and entrepreneurs.

ABB-Energy Efficient Business loan product is provided in the form of a loan or revolving credit line.

The purpose of this product is to expand the possibilities for legal entities and sole entrepreneurs by improving the efficiency of business, namely:

- reduce energy consumption cost per unit of product and business in general,
- get competitive advantage,
- add production capacity,
- improve the quality of services and products,
- improve the comfort of work for employees and etc.

This credit program is designed for heating, ventilation, lighting, cooling, insulation of buildings, acquisition of equipment for the food industry and other sectors of economy, renewal of automobile park and for several more purposes.

The amount of financing is set as follows: for mortgaged real estate - up to 60% of the liquidation value, for a pledged movable property - up to 50%, for pledged circulating assets - up to 40%.

Energy efficient loan is provided only in AMD, for a maturity of 1-5 years; minimum loan amount - AMD 1 000 000.

“The advantage of loan is its low annual nominal interest rate, which is 11.4%, and also the procedure of calculating the interest rate on the remaining balance,” the bank informs.