YEREVAN, August 13. VTB (Armenia) introduces a new loan called "Express," designed for small businesses, allowing them to obtain up to 20 million drams.
This loan is aimed at addressing current and investment needs and is characterized by a quick application review.
The "Express" loan is offered without collateral or with partial collateral for a term of 1 to 60 months. The financing amount ranges from 500,000 to 20 million drams. The interest rate is set between 10% and 16% per annum.
The loan funds are intended for various business needs, including replenishing fixed and working capital and repaying existing loans.
Evgeny Motovilov, Deputy General Director of VTB (Armenia), noted that there is a steady demand among small entrepreneurs for quick and accessible financing, which is crucial for business development.
According to the bank's statistics, 80% of borrowers are engaged in retail and wholesale trade, while 20% are in the manufacturing sector.
More information about the loan can be obtained on the official website of VTB (Armenia) or at any bank branch.
