GROUP LOANS

Getting a group loan requires simple steps:

Group Formation and Application: In order to receive a group loan you will need to partner with a minimum 3 other business owners and form a group. As a group member you will agree to secure the group loans through a solidarity agreement, meaning that each member of the group promises to repay the other member’s loans if one or more members of the group should fall into default. Group members will meet with a FINCA Azerbaijan Credit Officer (approximately 30 minutes) to register an application. Each group member should present a government-issued ID card to the Credit Officer at the meeting.

Site Visits & Analysis: A FINCA Azerbaijan Credit Officer will visit each group member’s business and home to verify credit worthiness. During the visits, t he Credit Officer will also prepare all necessary documents needed to execute the loan agreement. The s ite Visits normally require no more than 90 minutes of each group member’s time.

Loan Approval: FINCA Azerbaijan will evaluate the loan application documents . No time is required from group members. This process is normally completed within two business days of receiving the application. Group members will be notified as soon as the process has been completed, and a convenient time and location for loan disbursement will be arranged.

Loan Disbursement: Group members will go to the agreed location at the agreed time. Each member must present his or her government-issued ID card. Loans will be disbursed in cash. The time required for loans disbursements to all group members is normally less than 60 minutes.

INDIVIDUAL LOANS

Getting an individual loan requires five simple steps:

Loan Application (60 minutes): You will work with a FINCA Azerbaijan Credit Officer to prepare a simple two-page application form, containing your business information, some personal details, and your loan request. You will need to present a government-issued ID card at this meeting. At the end of the meeting, you will schedule a convenient time for the Credit Officer to visit your place of business and your home.

Site Visit (2 to 3 hours): At the agreed time, the FINCA Azerbaijan Credit Officer will visit to your place of business and your home to collect the necessary data needed to approve the loan.

Loan Approval: FINCA Azerbaijan Credit Committee will evaluate the loan application documents. No time will be required from you. This process is normally completed within three business days of receiving the application. Express Loans are usually approved within 24 hours. You will be notified as soon as the process has been completed, and a convenient time and location for loan disbursement will be arranged.

Loan Disbursement (25 minutes): You will go to the agreed location at the appointed time for the disbursement. It will be necessary for you to present your government-issued ID card. Loans will be disbursed in cash.

How long does it take to receive a loan?

We will approve and disburse your loan as quickly as possible. In general you can expect the following turnaround times: