The usage of funds of the Agrarian Credit and Development Agency under the Ministry of Agriculture of the Republic of Azerbaijan
Amount of credit: 1000, 1000-20000, 2000-50000, 50000-200000
Interest rate: 7 %
Period: 1 year, 3 year, 5 yearOnline order
Project’s main goal:
Promoting the amelioration of the material situation of rural areas inhabitants.
Project scope: All regions of Azerbaijan.
The Branch implementing this project: Barda, Ujar, Shekhi, Salyan, Ganja, Xachmaz, Gazax, Shamaxi and Lankaran.
Subjects of crediting – physical and legal entities, farmers (family rural farm economies , credit unions and individuals.
Purpose of the loan
Production, processing of all kinds of agricultural products and purchasing equipment.
Loan’s limit, term and period:
- Up to 1000 manats - microcredits - till 2 years with 12 monthes discount,
- From 1000 manats till 20000 manats microcredits - till 3 years with 18 monthes discount;
- From 20000 manats till 50000 manats medium-sized credit - till 3 years with 18 monthes discount.
- From 50000 manats till 200000 manats large-scale credits - till 5 years with 24 monthes discount;
Interest of credit and commission fee
- Annual interest rate - 7 %.
- The commission fee within the limits determined by the Board on credit appreciation and the rendered services.
Repayment of credit and interest
- The payment of interests calculated for credits at least once in a month;
- 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:
- Application for loans;
- Business Plan (Credit project);
- If at least 30% of the submitted project amount is funds of the debtor;
- The liquid pledge property as a warranty for credit or guarantee;
- Insurance of the pledged property is expedient.
- The joint debtors are not required any warranty for pledge.
- The joint debtors group is not required any life insurance