Progress Loans ''Fleqs 1''

 Consumer

 

 

A resident individual registered in the Republic of Armenia who receives stable income from home-based and entrepreneurial activities. 

When receiving loan funds, the Borrower must act in their own name and for their own benefit. Obtaining a loan for the benefit of a third party is prohibited. 

 301,000-10,000,000 AMD 

 16% 

 30.69%-32.23% 

 3–60 months; the 49–60 month term is available exclusively against real estate collateral. (Depending on the Borrower’s preferred payment date, the loan term may deviate from the specified number of months by up to 45 days.) 

 21–65 years of age (subject to possible modification by the Credit Committee). 

  0% of the loan amount 

  1% (monthly) on the loan principal balance 

  15.000 AMD 

  Non-cash 

 Not provided 

 The total amount of all loans is up to 10,000,000 AMD. (Armenian Drams) 

 Guarantee and Collateral Requirements 

  

 Guarantors must be between 21 and 65 years of age (subject to modification by decision of the Credit Committee). 

 For loans of AMD 2,000,001 and above, at least one guarantor must be a family member of the Borrower acting as a joint and several guarantors. 

 In the absence of a joint and several guarantors, it may be substituted by an external subsidiary guarantor. 

  

Minimum Requirements for a Subsidiary Guarantor 

A subsidiary guarantor shall be: 

  

Other Terms 

 Each guarantor may be substituted by collateral in the form of a vehicle, provided that it secures at least 50% of the loan amount based on its liquid value. 

 In case of participation of other persons in the Borrower’s home-based business activity (as partners/shareholders), the guarantee of such participant shall be mandatory, regardless of the loan amount. 

 The above guarantor requirements shall not apply to loans secured by real estate; however, in such cases, at least one joint and several guarantor shall be required. 

 Where necessary, the Credit Committee may require additional guarantors and/or collateral. 

 Any deviations from these terms shall be subject to approval by the Executive Director.

 

 The Borrower shall have the right, without paying any penalty, to make full or partial early repayment of the loan and to fulfill the obligations stipulated under the agreement. 
 

Moreover:
✔ In case of full early repayment of the loan, the Borrower shall pay the interest accrued as of the payment date, service fees, other applicable fees, and the principal amount of the loan.
✔ In case of partial early repayment of the loan:

✔ The Borrower may, at their discretion, make advance payments for future months as provided in the repayment schedule.

In that case, repayments shall be made in the following order: 

The Borrower shall be exempt from making payments on the scheduled repayment dates to the extent of the advance payments made for future months.
In case of early repayment of the loan, the interest and service fees for future months shall be reduced proportionally to the additional amount of principal repaid.
  In case of full early repayment of the loan, the Borrower shall pay the service and other fees, interest accrued as of the payment date, and the principal amount of the loan. 
 

4. In case of partial early repayment of the loan, the amount paid shall first be applied to cover the full amount due under the Borrower’s repayment schedule for the next installment. If the amount paid exceeds the amount due for the upcoming installment, the excess shall be directed toward loan repayment, except in cases provided under Clause 6. In such case, the interest and service fees for future installments shall be recalculated based on the remaining loan principal, and the corresponding future monthly interest and service fees shall be reduced proportionally to the additional principal repaid. 

In such cases, the Borrower shall be informed that, due to early repayment, the repayment schedule has been modified. The Borrower may request an updated repayment schedule and information regarding the next payment one business day after the transaction by contacting the Lender. If the Borrower opts to receive the updated schedule via postal service, the Lender shall provide it within 3–5 business days. The updated repayment schedule may be issued in a unilateral form, signed and stamped by an authorized representative of the Lender, without the Borrower’s signature. 

5. If the amount paid is insufficient to fully cover the upcoming scheduled installment, payments shall be applied in the following order: service and other fees, interest (if applicable), and principal. 

6. The Borrower may make advance payments for future months under the repayment schedule and may request that such payments be allocated in the following order: first, service and other fees for future months; second, interest accrued as of the payment date; third, interest calculated on the remaining principal for future months; and finally, the principal amount for future months, or may specify any other repayment order. In the absence of such instruction, Clause 4 shall apply. 

7. Where the Borrower makes advance payments under Clause 6, the Borrower shall be exempt from making payments on the scheduled due dates to the extent of such advance payments. 

 The organization shall make a decision on the loan application within a maximum of 2 business days, provided that the complete set of documents has been submitted by the customer. The loan shall be disbursed to the Borrower within a maximum of 2 business days after approval of the loan. 

 

 

 Annuity (The loan is repaid through equal monthly installments consisting of principal, interest, and service fee payments). 

 

 

 "Arfin" UCO LLC will provide the client with information (statement) regarding the obligations arising from the loan agreement every 30 days. The statement is provided free of charge. You have the right to communicate with the financial organization through your preferred method: by postal mail, electronically, or by phone. 

 

 

 

ATTENTION: Poor credit history may hinder future loan processes.
 
Loans are processed at the office or representative branches of Arfin UCO LLC. 

  "Your Financial Directory" www.fininfo.am is an electronic system that facilitates searching, comparing, and selecting the most effective options of services offered to individuals. 

 

What is a credit history? Credit history shows how you have fulfilled and continue to fulfill all your financial and credit obligations. Your credit history includes only data from the last 5 years from the date of the credit history inquiry (received loans - their quantity and amount, type and terms of each loan, repayment performance, guarantees provided to other people, presence of overdue loans, as well as associated fines and penalties). Example: If an inquiry about your credit history is made in July 2024, your credit history will reflect information only from July 2019 onwards. We also inform you that receiving a credit report from ACRA Credit Bureau once a year is free of charge. You can obtain your credit report online from the ACRA Credit Bureau website (www.acra.am) once a year and check your credit behavior. If you notice any errors, contact the lending organization to correct them. 

 What is a SCORE? 

The score is a customer creditworthiness rating formed in the scoring system, which is obtained through the analysis of various available information about the customer and the application of statistical methods. Based on the score rating, the possible credit limit, term, and other conditions for a specific type of loan can be determined. 

Arfin UCO LLC uses the ACRA SP3 complete report in the lending process, through which customer data is collected and analyzed, as well as information from various available information sources such as ACRA Credit Bureau, EKENG, NORK, and other databases is analyzed. Internal analysis algorithms are based on several key parameters, including the customer's credit history and financial behavior, credit load, income, and other factors. 

To improve the SCORE rating, the borrower can: 

For more detailed information, you can visit the following links:
abcfinance.am
acra.am 

  The Terms and Conditions for the provision and subsequent servicing of loans were adopted and approved by Order No. 52 of the Executive Director of ARFIN UCO LLC, Mr. Ararat Jaghatspanyan, dated 23 April 2026.