Yerevan/Mediamax/. ARARATBANK has extended “The young in the business” loan action till November 1. The action was launched on May 25 and was valid till August 1. The decision to extend the action was made taking into consideration the increased demand for this loan proposal.

As Deputy Chairman of ARARATBANK Board Nshan Grigoryan told Mediamax’s correspondent, despite the fact that summer is a passive season in terms of crediting, nevertheless the young businessmen were very active. In particular, the bank has already satisfied 25 applications within the framework of the action, having issued loans in the amount of over AMD 154 million.

Unlike the bank’s traditional offers targeting the business community, the loan tariffs of the action are lower by 2-3 percentage points. Depending on the currency and the payment term, the annual interest rate ranges from 11.5% to 15.5%, with the maximal term of up to 5 years and the maximal credit amount of up to AMD 35 million. The payments for the preparation and maintenance of the loan package have been also reduced.

Program participants can use the loan to replenish their circulating assets, making capital investments, acquiring fixed assets as well as paying off credit debts.

The action is open for those businesses, in which 60 percent or more of the share in capital belongs to businessmen over 35 years old. They have to play the role of shareholders for at least 6 months.