Yerevan/Mediamax/. “Ameriabank” announced today launch of purchase order financing and classical factoring services’ provision without the necessity of a deposit.

Mediamax reports that, while presenting the new services of the bank in Yerevan today, Corporate Customer Line Director of the Bank Levon Arevshatyan stated that purchase order financing implies financing of suppliers of products and services, who have concluded the corresponding agreement with the purchaser company, but who do not have financial resources in order to implement the order.

The supply agreement is the security means to receive such type of a credit. In case there is good credit history and business reputation of the sides, the bank will finance up to 75% of the total cost of the order (but no more than USD 200 000) at the annual interest rate of 16%. Purchase order financing is carried out in AMD, USD and EUR. The maximum repayment term makes 180 days.

Touching upon the service of classical factoring, Levon Arevshatyan stated that it implies that the bank purchases debt liabilities to the suppliers of the following companies: “Armenia International Airports”, “ArmenTel”, “K-Telecom”, “Yerevan Brandy Company”, “Yerevan Jur”, “Zangezur Copper-Molybdenum Plant”, “Electric Networks of Armenia”, “ArmRosGazprom”, “Armenian NPP”, “South-Caucasus railroad”, “Rusal-Armenal”.

In case of classical factoring, financing is provided to the supplier after fulfillment of the order, if the latter needs financial means before the term of account settlement with the purchaser. In case of classical factoring, the security means is the agreement, concluded between the purchaser and the supplier, as well as other documents, confirming fulfillment of the order. The service of classical factoring is provided in AMD at the annual interest rate of 14% for the term of up to 120 days.

Levon Arevshatyan noted that these services are a novelty in the banking system of Armenia and the bank made a decision to introduce those services after studying the demands of customers.