YEREVAN, February 17. /ARKA/. Unibank has unveiled today a new loan product designed to support small and medium-sized businesses, which can be taken out in euros with the interest rate of 5% and 6%.

The loan repayment period is up to 5 years.

The interest rate for the first 12 months is only 5%, and from the 13th to 60 months - 6%.  The loan can be provided both for a short term - 1 year and for a longer term - up to 5 years.

The loan is given for the development and improvement of business efficiency, as well as for refinancing current loans in other banks.

Legal entities and private entrepreneurs can apply for the loan in any of the 55 branches of Unibank. The requirements to the borrower are minimum: business activity term not less than 12 months and absence of negative credit history.

One more important advantage of the loan, except for low interest rate, is the possibility of granting a grace period for 12 months during which the borrower has to pay only the interest. 

"Small and medium-sized businesses need available resources for capital investments, replenishment of working capital and current expenses for a long period of time. Our credit programs, allow entrepreneurs to solve these tasks without unnecessary bureaucracy, quick decision making on financing and at lowest rates possible,' commented David Petrosyan, Unibank Sales and Corporate Business Development Director.

In 2022 the volume of business loans provided by Unibank surged by more than 18% in comparison with the previous year, indicating a growing demand of entrepreneurs for credit products of the bank -0-