Rural areas crediting line

Rural areas crediting line

Credit terms:

Amount of credit: Business loan: from 5000 manat, Microcredit: 500-5000 Manat

Interest rate: 21, 24, 27 %

Period: 24, 60 month

Online order

Main goal:

To achieve the social development of rural areas upon rendering credit services.

Scope:
In all regions of the Republic of Azerbaijan through the branches in Baku, Nakhchivan, Barda, Lenkoran, Salyan, Ujar, Imishli, Ganja, Gazakh, Shaki and Shamakhi.

Crediting subjects – individuals and legal entities, family rural economics, joint debtors.

Purpose of credit:

  1. for production of crop growing
  2. for production of cattle-breeding products;
  3. for agrarian-processing fields;
  4. for purchase of agricultural techniques and equipment;
  5. For services rendered to the agricultural goods producers
  6. For delivery of agricultural goods
  7. For trade operations to be implemented in the rural areas.

Life of a loan:
Short term – allowance term for principal amount of a debt up to 9 months (taking into account the peculiarity of the submitted project), up to 24 months.
Long term – the allowance term being up to 12 month on the principal amount of a debt (taking into account the peculiarity of the submitted project), up to 60 months.

Interest of credit and Commission fees:

  1. For the production and processing fields of the agricultural products, including for the credit unions – annually 21%; if the credit repayment is delayed – 26% annually of the delayed amount
  2. In the fields of delivery, trading and other kinds of activity with agricultural goods – annually 24%, if the credit repayment is delayed annually 29% of the delayed amount.
  3. The commission fee to be repaid in the amount determined by the Board for credit estimation and rendered services

Repayment of credit and interests

  1. Repayment of interests computed on a credit at least once in a month
  2. The repayment of the principal amount of a debt will be implemented from the term envisaged by the loan agreement after expiry of the allowance term applied to the principal debt amount

The applicants for loans have to present the following documents:

  1. Application for loans;
  2. Business Plan (Credit project);
  3. If at least 30% of the submitted project amount is funds of the debtor;
  4. The liquid pledge property as a warranty for credit or guarantee;
  5. Insurance of the pledged property is expedient.
  6. The credit warranty for micro-loans up to 5000 manat is required in the form of guarantee.
  7. The persons receiving micro-loans are not required life insurance.