Armenia’s small enterprises cannot afford large loans, Gagik Margaryan, Chairman of the Union of Employers of Armenia, told journalists December 14.

According to him, people open up businesses in Armenia using their own funds. However, businesses need “fuel”, that is, crediting, which is a most serious problem.

Margaryan pointed out two aspects of the problem. On the one hand, businessmen cannot submit “right” business projects to banks. On the other hand, banks prefer cooperation with big businesses. “Banks find it difficult to work with small businesses, and they prefer crediting big businesses,” he said.