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EUR
GBP
RUB
USD
TRY
1.8479
2.195
0.0194
1.7
0.0515
EUR
1.8479
GBP
2.195
RUB
0.0194
USD
1.7
TRY
0.0515

Banks' involvement is growing toward SMB financing

Banks' involvement is growing toward SMB financing



The Small and Medium Business Development Agency (SMBDA) of the Republic of Azerbaijan continues to cooperate with banks to expand access to financial resources for micro, small and medium businesses (SMBs).

The next project in this field is "Enhancing Access to the Financial Market" implemented jointly with AFB Bank. The project envisages opportunities for SMBs to receive a bank loan and meet the relevant requirements to provide a collateral (even countryside land lot will be considered as collateral) by region of their residence, granting unsecured loans up to 5,000 manats, and subsidies to the farmers until the harvesting (only interest will be paid monthly), obtaining micro-loan per specifics of the business, and discount on all types of loan interest. Moreover, experts will provide the entrepreneurs with information on finance, accounting and market research within the project.

The first presentation on the project "Enhancing Access to the Financial Market" was held in Gabala. The event, which was attended by over 50 entrepreneurs who applied to SMBDA's Gabala-Oghuz "SMB Friend" for access to financial resources, as well as representatives of the Agency and AFB Bank, provided detailed information about the project and answered the questions of interest of entrepreneurs.

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