UNIVERSAL CREDITOR
Support A1+!Today the official opening of the “Izmirlyan-Eurasia Universal Credit Company” LTD took place, although the Credit Company has been working since 2004 August.
According to the executive director of the Company Zaqar Boyajyan the two companies have united “to make their investment in the improvement of the economy and living level in Armenia”. Up to now the “Izmirlyan-Eurasia Universal Credit Company” has certified 41 credits of a total sum of 2.3 million with 275 working places. The credits are mainly given to food-producing, service and agricultural companies.
The longest term of the credits is 48 months, the largest sum is 125 000 UA dollars, and the yearly interest is15%. Asked if the interest is not high for Armenia deputy head of the Izmirlyan fund Gregory Jerejyan said that they have taken into consideration the interest rate in the market. Moreover, according to him it is an attractive figure. Besides, as Mr. Jerejyan said, the money from the payment of the interests is again circulated in Armenia in the form of credits.
By the way, up to now only 3% of those who have received credits have not paid it off on time. According to Boyajyan, different law sanctions are imposed upon them.
