Line of credit for current assets

Pay off your credit on time and replenish it for reuse

Open a line of credit online with no bank visiting

Get a loan for working capital with a rate of 23% per annum

Credit line term - 60 months

The term of each tranche - up to 18 months under one line of credit

The grace period for each tranche is no more than 4 months

Loan conditions

Form of Credit

Revolving line of credit

Purpose of Credit

financing of current activities (purchase of raw materials, goods, materials, components, payment for works and services, payment of wages, as well as other expenses required to maintain business activities).

Currency of Credit

The national currency of the Republic of Uzbekistan is Uzbek soum.

Maximum allowable credit amount (limit) per a borrower or a group of related borrowers

In the amount not exceeding 25% of the banking capital of the level 1.

Maximum credit amount (limit)

It depends on the financial condition of the potential borrower, the business volume and the source of credit repayment.

Term of the line of credit

No more than 60 (sixty) months from the date of conclusion of the credit agreement

Tranche Drawdown Period

No more than 42 (forty-two) months from the date of conclusion of the credit agreement

Tranche Term (the payment period of each tranche)

No more than 18 (eighteen) months from the date of disbursement of the tranche

Interest rate*

Floating rate. The issuance of a loan is carried out at 23% per annum. The interest rate is increased and set in the amount of 46% per annum for those days when the borrower does not fulfill the conditions described in the "Special Conditions" section

Conditions for granting a loan

*These interest rates apply within 12 months from the date of conclusion of a loan agreement. After 12 months, interest rates can be changed depending on the refinancing rate of the Central Bank of the Republic of Uzbekistan and the cost of resources in the capital market as agreed by the parties to the loan agreement

Default Interest (for the principal debt)

69% per annum

Procedure for repayment of credit interest

monthly

Tranche grace period

No more than 4 (four) months from the date of the Tranche transfer

Repayment of the tranche principal debt

Equal monthly payments at the end of the grace period.

Method of repayment

Independently by the bank

Early repayment

Free, at any time

Payment schedule

The information is contained in your personal account

Security

A pledge of property (including personal and third parties' property of legal entities and individuals) and a guarantee can be the credit security:
immovable property;
vehicles;
deposit (in national and/or foreign currency);
special equipment;
guarantee of banks and insurance companies.

Security registration

All costs for the registration of security shall be borne by the borrower/ pledger

Period for consideration of credit application

3 days

Borrower requirements

Who can get a credit?

1. Business entities (legal entities and individual entrepreneurs) registered in accordance with the procedure established by the legislation of the Republic of Uzbekistan.
2. Demand deposit account opened in ANOR BANK JSC.
3. No negative credit history.
4. The adequacy of the projected cash flows for the project to be credited.
5. The term of work and official registration of the business should not be less than 6 months.
6. Unprofitable enterprises and enterprises that have not readily available balance sheet are not subject to crediting.
7. Appropriate permits and licenses for the business activities carried out, if the client's business activities are subject to licensing.

Security requirements

Security requirements

- a security is accepted for a total amount of at least 125% of the credit amount;
- a security is accepted in the amount of at least 130% of the credit amount for credits granted to persons associated with the bank.

Collateral

- must be free from any encumbrances

Requirements for the pledge of real property

- there must not be any registered persons (temporary or permanently registered)

Loan granting procedure

Conditions prescribed for granting a credit

The credit is granted after approval of the credit transaction by the relevant authorized bodies of the bank, conclusion of the credit agreement and registration of the security in the manner and form that satisfies the bank and in accordance with the current legislation of the Republic of Uzbekistan.
The credit is granted by transferring funds to the account of the supplier of goods/ works/ services (except for credits received for the payment of wages).

List of documents for obtaining a credit and providing a security

For legal entities:
  • Application for a loan;
  • Protocol of the meeting of founders on the receipt of a loan, providing security and powers of the director/responsible persons for signing credit and pledge documentation (original);
  • Financial reporting (accounting balance, a report on financial results, decoding overdue receivables and payables) for the last financial year and operational financial reports at the last reporting date;
  • The questionnaire on the project;
  • A certificate of the movement of funds on accounts opened in other banks over the past 12 months, information about the availability/absence of a cardboard - 2, information about loan debt (loans, guarantees, letters of credit, leasing and other financial obligations), if the main /secondary deposit account of the borrower is served in other banks;
  • Documents to ensure
  • Other documents at the request of the bank


For individual entrepreneurs:
  • Application for a loan;
  • The questionnaire for the project;
  • A certificate of the movement of funds on accounts opened in other banks over the past 12 months, information about the availability/absence of a cardboard - 2, information about loan debt (loans, guarantees, letters of credit, leasing and other financial obligations), if the main /secondary deposit account of the borrower is served in other banks;
  • Documents on the provision;
  • Other documents at the request of the bank


List of documents for pledging the property (when the pledger is a legal entity):
  • Constituent Documents (Articles of Association, Memorandum of Association) and all additions and amendments thereto;
  • Minutes of the pledger founders with the consent to pledge the property and with stating the powers of the director/responsible persons to sign the pledge documents;
  • Passports of founders, senior manager (director) and chief accountant;
  • Documents on the right of ownership of the pledged property:
    - cadastral documents for the property;
    - vehicle /special equipment registration certificate and etc.
  • Report of an independent appraisal company determining the market value of the pledged assets. If vehicles, special equipment, apartments in multi-storey buildings, residential and office buildings are pledged, and the pledger has no state share, the report of the independent appraisal company is not provided.


List of documents for pledging the property (when the pledger is an individual):
  • Owner's passport;
  • Documents on the right of ownership of the pledged property:
    - cadastral documents for the property;
    - vehicle /special equipment registration certificate and etc.
  • Report of an independent appraisal company determining the market value of the pledged assets. If vehicles, special equipment, apartments in multi-storey buildings, residential and office buildings are pledged, the report of the independent appraisal company is not provided.

How the line of credit for current assets works

Increase your current capital

Expand your business opportunities by injecting funds into current capital

Pay off debts on time

Each tranche on the credit line must be repaid for 18 months

Use the credit again

You can use your credit for an unlimited number of times under one agreement. It is renewed after each repayment

3 reasons to get a renewable credit from ANORBANK

Convenience

Fill out the documents for one time and use the credit as much as you want

Renewability

The limit of line of credit is renewed upon timely repayment

Freedom

Unlimited number of disbursements within the credit of line

Calculate the line of credit

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