Micro-business loan

Contents

Purpose of micro-business loan

Financing of working capital, equipment, repair/construction of business facility and other business needs related to business activities that are not prohibited by law, do not harm the environment and do not conflict with public order

Requirements for taking advantage of the micro business loan product

Active TIN and sufficient income
There is no delay in the credit history
Guarantor or property pledge, group guarantee for group loans
Valid ID
An extract from the personal statement for the last 6 months for taxes, social security and unemployment insurance contributions
Other documents confirming payments to the state budget
Business or current bank account

Micro-business loan products and terms

Terms of micro-business individual loan

Loan security:	Guarantee, jewelry, movable/immovable property pledge
Commission fee:	There is no
Loan amount:	AZN 600-20000
Annual interest rate:	19,96-24,70%
Effective annual interest rate (APR):	25%
Loan term:	8-48 months

Terms of micro-business group loan

Loan security:	Social security, group guarantee
Commission fee:	There is no
Loan amount:	AZN 600-2000
Annual interest rate:	19,96-24,47%
Effective annual interest rate (APR):	25%
Loan term:	8-24 months
Group size:	3-7 people

Basic rules and characteristics of group loans

Creation of solidarity groups consisting of a minimum of three and a maximum of seven people.
Providing a group guarantee for repayment of the loan and the use of the loan according to the initial purpose specified in the loan application form.
The purpose of using the loan may be different for each group member.
The same loan product, the same loan period and the same interest rate is applied on the group.
The loan agreement is signed by all group members.
The loan is given individually to each group member.
Loan repayment can be done both individually and in groups.
For each group, the members of one family can make up a maximum of 33.3% of the group that each group member from the same family should have a separate business and/or address.
Group members should not have any unfulfilled obligations.
Membership must be accepted by all other group members.
Group members must be willing to repay the loan on the basis of joint guarantee (joint and mutual responsibility).
A member cannot be a member of more than one group.
Each group member must convey information to the group correctly and be willing to follow all the rules of the group..

Loan order and calculator button

Loan order

Loan calculator