AraratBank in Lori: Competitive Solutions for Business and Economic Development

Banks with their offerings, businesses with their ideas — together they discussed the opportunities for collaboration between the business sector and the banking sector in the Lori region. The regional forum, organized in Lori at the initiative of the Union of Banks of Armenia became a platform for dialogue between the business community, banks, and state institutions.

The forum was launched with the “Banks and Business in Vanadzor” expo, where AraratBank presented a range of competitive solutions aimed at fostering business and economic development - from business loans to agricultural financing facilities.

Deputy Head of the SME Lending Division at AraratBank, Artak Mayilyan, presented the Easygoing business loan, designed for small and medium-sized enterprises to ensure business growth, new investments, and the replenishment of working capital. The product features two components: a secured business loan with the collateral estimated at up to 100% of its sale price, and an unsecured business loan.

“The second product is the “Join Us” campaign, running until the end of this month. The campaign provides businesses with an excellent opportunity to transfer their existing loans to AraratBank and benefit from favorable lending terms - 10% interest for the first year and a 12-month grace period on principal repayment,” said Artak Mayilyan, Deputy Head of the SME Lending Division at AraratBank.

Lori is a developing region with particular strength in tourism and services, but also significant manufacturing potential. Accordingly, the offerings are structured to provide businesses with access to financing.

“Agricultural financing has been growing throughout the Lori region driven by livestock farming and crop cultivation. We have numerous corporate borrowers with whom we have been working for around 10 to 15 years, both in account servicing and various other banking services. Projects related to the financing of guesthouses and hotel construction are also seeing significant growth,” said Vardan Shakaryan, Vanadzor Branch Manager at AraratBank, citing as an example a successful collaboration project - the Mounthree hotel complex located near the city of Vanadzor.

“Our collaboration with AraratBank began in 2025, in parallel with the official opening of the complex, and today - as a result of effective financing - the Mounthree hotel complex is among the finest in the Lori region, welcoming a large and steady flow of guests. Through our partnership with AraratBank, a number of hotel development projects have been successfully completed. The next phases envision new infrastructure, expanded services, and even a ski resort component… And this journey will continue in partnership with AraratBank,” noted Aren Gevorgyan, Executive Director of the Mounthree hotel complex.

The forum highlighted the model of perceiving the bank as a partner, and financing as a tool for development.

AraratBank is regulated by the Central Bank of Armenia.