YEREVAN, June 11. /ARKA/. As part of the 19th assistance program designed by the government of Armenia to help offset the economic consequences of the coronavirus crisis, conducted jointly with the Ministry of Economy and the Investment Support Center Foundation, VTB Bank (Armenia) announced today lending to small businesses and assistance in the implementation of business projects of entrepreneurs in this segment, the press service of the bank reported.

The program is aimed at showing financial support for aspiring entrepreneurs who start a business from scratch. According to the bank, this is an excellent opportunity to implement their projects.

Basically, the emphasis is on companies in the service and processing industries, operating in the regions of Armenia, where, as a rule, financial resources are difficult to obtain for a start-up business.

Lending is provided under the following terms: the loan amount is up to AMD 10 million (no lower loan limit is set); the loan currency is Armenian drams; repayment period is from 1 to 60 months; the annual interest rate for men is 9%, for women is 7% (the effective interest rates are 9.4% and 7.2% respectively); the bank charges no fees for the provision of credit funds; the grace period for repayment of the principal amount is up to 6 months.

More detailed information on lending terms can be found on the official website of VTB Bank (Armenia) here, in its branches, by calling the Contact Center at 87-87 or on the official website of the Government of the Republic of Armenia.

The activities of VTB Bank (Armenia) CJSC are regulated by the Central Bank of the Republic of Armenia. -0-