BENEFICIARIES

An agricultural cooperative registered under the framework of the Law "On Agricultural Cooperatives" is considered a beneficiary of the Program if it:
1. does not have the status of being in liquidation process or having its activity (existence) terminated;
2. has at least one year of operational history as of the date of concluding the leasing agreement;
3. has a credit report, according to which, based on ACRA information, it has not had cumulative overdue credit obligations of 60 days or more during the 12 months preceding the application submission date, or has no established credit history;
4. during the 365 days preceding the application submission date to the State Revenue Committee of the Republic of Armenia, no collection decision has been made by the tax authority for tax obligations of one million drams or more on revenues controlled by the tax authority, or as of the day preceding the application submission date, has no overdue obligations on revenues controlled by the tax authority;
5. has had a financial stability indicator during the last year of operation;
6. the share of borrowed funds involved for the acquisition of agricultural equipment does not exceed 50 percent of the cooperative's asset value according to the latest annual financial statement;
7. has submitted a business plan to the financial institution regarding the use of the agricultural equipment to be acquired for at least a 5-year period, which has received a positive conclusion from the financial institution.

CONTENT

30 percent of the 20 percent down payment of the leasing object value required for the acquisition of agricultural equipment by the beneficiary under the framework of the program is subsidized. For each beneficiary, the total amount of subsidy for the down payment of the leasing object value required for the acquisition of agricultural equipment cannot exceed 2.5 million drams, and the beneficiary bears the obligation to pay the exceeding portion. Leasing is provided to the beneficiary in accordance with the conditions and procedures established by the program, and the partial subsidization of the down payment of the leasing object value will be implemented until December 30, 2026 for beneficiaries who have concluded leasing provision agreements with financial institutions.

https://www.arlis.am/hy/acts/214304

LIMITATIONS

For 5 years from the date of signing the delivery and acceptance act of the leasing object, the beneficiary must not alienate the leasing object.