The loan disbursement fee is 0.5% of the loan amount plus AMD 10,000, with a minimum of AMD 35,000 and a maximum of AMD 250,000.

• In case of early repayment of the term loan (full or partial) during the interest fixed period, a 2% penalty on the early repaid amount will be applied.
• In case of payment delay, loan interest rate defined by the loan agreement shall not be applied on the overdue loan and the Bank will apply 24% annual interest rate to the amount owed by the Customer for every due day. Overdue amounts shall be the amounts not paid within the timeframe set by the loan agreement.

Sectors of the economy or activities for which loans are not provided:

• Production, trade or activity of goods prohibited by national law or international treaties,
  
• Production or trade related to ammunition,
  
• Casinos and other gambling games,
  
• Gem trade,
  
• Exchange point,
  
• Brokerage and bookmaker companies,
  
• Production, use or trade of hazardous substances, such as radioactive substances, etc., except for pesticides or fertilizers used in agriculture.
  
• IFC Exclusion List:

1. Production or activities involving harmful or exploitative forms of forced labour (1)/harmful child labour (2), where the legal right of employees to join trade unions and other unions is violated or discrimination is exercised;
   
2. Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements.These include, for example, medicines, pesticides and herbicides, ozone depleting agents, polychlorinated diphenyl, wildlife or wildlife products regulated by the CITES (3) Convention;
   
3. Transportation of waste prohibited by international regulations;
4. Production or trade in weapons and munitions, tobacco and alcoholic beverages (excluding beer and wine) (4);
5. Gambling, casinos and equivalent enterprises;
6. Production or trade in radioactive materials (5);
7. Production or trade in or use of unbonded asbestos fibers (6);
8. Activities prohibited by national law or international treaties relating to the protection of biodiversity, or activities that contribute to the change or deterioration of the natural climate/environment, as well as activities that contribute to the damage or alteration of historical and cultural monuments (3);
9. Commercial logging operations for use in primary tropical moist forest;
10. Production or trade in wood or other forestry products from unmanaged forests;
11. Trade in wildlife or wildlife products regulated under CITES (3);
12. Drift net fishing in the marine environment using nets in excess of 2.5 km. inlength;
13. Transportation of oil or other hazardous materials by tanks that do not comply with the requirements of the International Maritime Organization (IMO);
    
14. Trade without mandatory export or import permit or other proof of authorization to export, import or transfer from respective country;
    
15. Activities related to pornography or prostitution;
16. Production and distribution of racist and anti-democratic periodicals;
17. Activities promoting the displacement of indigenous peoples.

ACKNOWLEDGMENTS

1. Forced labour means all work or service, not voluntarily performed, that is extracted from an individual under threat of force or penalty.

2. Harmful child labour means the employment of children that is economically exploitive, or is likely to be hazardous to, or to interfere with, the child's education, or to be harmful to the child's health, or physical, mental, spiritual, moral, or social development.

3. CITES: Convention on International Trade in Endangered Species of Wild Fauna and Flora. A list of CITES listed species is available from the Ministry of the Environment of the Republic of Armenia.

4. This does not apply to project sponsors who are not substantially involved in these activities. "Not substantially involved" means that the activity concerned is ancillary to a project sponsor's primary operations.

5. This does not apply to the purchase of medical equipment, quality control (measurement) equipment and any equipment where IFC considers the radioactive source to be trivial and/or adequately shielded.

6. This does not apply to the purchase and use of bonded asbestos cement sheeting where the asbestos content is less than 20%.

• The loan is only processed at Byblos Bank Armenia branches.
  
• The loan is disbursed by a non-cash transfer to the client's bank account.
  
• The loan disbursement is executed within a maximum period of 3 working days from the date of signing the loan contracts by the client at the branch if all mandatory documents are provided.
  
• The repayment of the loan shall be made in equal monthly instalments whereas the interest accrued at the date of repayment shall be repaid first then the principal. In case there are penalties, those will be repaid first.
  
• The main factors affecting the decision to approve or reject the loan are as follows:
  

a - Credit history

b - Valid justification for the loan purpose

c - Accuracy of information, provided by the borrower

d - Solvency of the client (financial position)

e - Creditworthiness of the client (personal qualities absence of any legal impediment)

f - Type of security.

Byblos Bank Armenia will provide a decision on the loan application within 7 working days.