“Kamurj” universal credit organization (UCO) has signed a new cooperation agreement, in the scope of which, starting already from this month, it will provide loans for the development of micro, small and medium businesses within the framework of the  “MSME Support” program of the KfW Bank, Germany.

Under that agreement, business loans will be provided of up to AMD 160 million, up to 60 months with a grace period of up to 30 months, and with an annual interest rate of 10.5% to 12.4%, depending on the investment program.

The UCO has underlined that loans up to AMD 4 million are also provided without the collateral.

“It is necessary to emphasize that loans are provided only in Armenian dram, which is even more demanded by borrowers. One of the great advantages of the loan is that for the repayment it has a rather long grace period, up to 30 months, adapted to the borrower’s income and investment program,” noted the Executive Director of “Kamurj” UCO CJSC, Alexander Teryan.