YEREVAN, March 30. /ARKA/. The Yerevan-based Unibank has announced today a new type of unsecured loans on favorable terms, designed to increase the level of availability of credit funds to a larger number of entrepreneurs. According to a bank’s press release, the maximum amount of a loan is 4 million Armenian drams, 8,500 US dollars and 7,500 euros.

The bank said the borrower can obtain additional loan in case of possessing collateral. In this case, the loan amount is 5 million drams, 10,000 US dollars or 8,000 euros. The loan is granted for a period of up to 36 months with an annual rate of 15%. Loans are available to individuals and legal entities engaged in production, trade, construction, tourism, transport, services and other sectors.

Based on the specifics of the local market and business, Unibank offers its customers a flexible loan repayment schedule with restrictions on early repayment of the loan.

"The availability of credit funds for small businesses continues to be one of the most urgent issues. We are working not only to improve credit terms, but also to simplify loan application processing. Unsecured loans will allow our clients to obtain available credit resources to boost their businesses, increase efficiency and competition," Deputy Chairman of Unibank David Petrosyan said.

According to him, the terms of this loan are available to a large number of entrepreneurs, and the minimum package of required documents speeds up and simplifies the process of loan obtaining.

As Petrosyan noted, this approach activates development of small business and meets the expectations of customers in the best possible way. He noted that Unibank’s portfolio of business loans exceeded 63 billion drams in 2016.

Unibank was established in October 2001. In 2002, it introduced Unistream system. The bank’s principal shareholder is Ripatonso Holdings Ltd. In 2015, the bank was reorganized into an open joint stock company.-0-