Lease for your business from Evoca

Along with expanding its product line Evocabank offers legal entities and sole proprietors both RA residents and non-residents financial lease for acquisition in primary and secondary markets of brand new and second-hand equipment, modern technology and means of transportation.

The following assets may be a subject of the lease:

·     Manufacturing equipment/production lines

·     Medical equipment

·     Building and construction technology

·     Solar heating systems and water heaters

·     Automobiles

What is a lease?

A lease is a contractual agreement under which one party conveys an asset to another in return for a specified time and payment. Under financial lease, the Bank acquires the leased assets chosen by the Leaseholder, leasing it to the latter for a specific time-period. During the lease period Leaseholder shall pay lease charges.  At the end of the lease period depending on the choice of the Leaseholder, the leased asset may be handed over to the Leaseholder pursuant to right of ownership to the mentioned asset.

What are benefits of a lease?

·     It requires no collateral

·     No notary/Cadastre fees and charges are required

·     Opportunity for mutual settlement of VAT and costs and expenses

·     Leased asset may be acquired abroad without the client’s participation in the acquisition process

·     Receiving expert appraisal and consulting services regarding the lease project

A financial lease repayment period in Evocabank is 6-72 months depending on the leased assets.

Annual interest rate:

·     AMD – starting 10.5% (actual interest rate: 11.28-17.48%)

·     USD – starting 8% (actual interest rate: 8.54-14.57%)

·     Euro – starting 6% (actual interest rate: 6.39-12.31%)

The final terms and conditions, repayment period and interest rate of the lease depend upon the type of the leased asset, supplier, business characteristics and other risks.

The lease financing more details may be found here.