YEREVAN, October 9. /ARKA/. Unibank has launched an express lending scheme designed for individual entrepreneurs, who can apply for an unsecured loan of up to AMD 2 million with no guarantors.

A preliminary decision on whether to grant a loan or deny it is made within 5 minutes, the bank said in a press release.

Credit funds are provided for financing current operations and acquisition of fixed assets, as well as for refinancing of debts in another banks. Micro Express loan is issued in AMD or USD with repayment period of up to 5 years. The interest rate starts from 9.5% per annum.

"The availability of credit resources with transparent and clear requirements for borrowers is important for the development of small businesses. Micro Express loan is a quick help to business. A minimum of documents is required; a preliminary decision on the loan is made in 5 minutes.  Another main advantage of express lending is that funds are issued without collateral and without surety. The client does not bear the costs associated with collateral insurance, notary and cadastral services," said David Petrosyan, Unibank Deputy Chairman of the Management Board, Director of Sales and Corporate Business Development.

In order to step up the availability of loans for micro and small enterprises, Unibank has not only improved lending conditions, but also simplified the loan approval procedure as much as possible. Thanks to the automation of the application process, a loan response can be received in minutes. -0-